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Dr Narayan, who holds the electronics, IT/BT portfolio, said at an event organised by the Indian Electronics Semiconductors Association (IESA) to award ‘technovation’ winners of the ESDM sector.
He exuded confidence of achieving the target through skill development, quality infrastructure, eco-system support, encouragement to startups, and ease of doing business.
”The ESDM industry is one of the fastest-growing sectors in the country and can play a huge role in its economic recovery,” Narayan said.
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According to him, Karnataka contributes 64 per cent to the ESDM exports and 10 per cent to electronics industrial output.
‘ The State is the nation’s largest chip design hub. Nearly 70 per cent of the chip designers are based here,” Narayan said.
Stating that the State has a policy which encourages the growth of the ESDM sector, he said the government has introduced many incentives and relaxations to promote the setting up of startups.
During the programme, startups, which bagged the award, were Path Shodh, Hack Labs, Devic Earth, Acceleron Labs, EVQpoint and AlphaIC.
In the startup incubator category, SINE and IIT- Mumbai were given the award.
In the medium, small and the micro enterprises (MSME) category, Saankhya Labs, SkanRay, iWave and Sahasra got the award while AMD, BEL, Einfochips and Wistron were awarded for being an enterprise.
Nivrut Rai, Professor Ramagopala Rao, Professor A Paul Raj and Aruna Sundararajan were given the award of techno-visionary.