Karnataka Election 2023: Startup founders and investors seek acceleration in ongoing infra projects

Karnataka Election 2023

Bengaluru's prominent startup founders and investors are expecting the newly elected government to continue improving and accelerating ongoing infrastructure projects like metro rail extension and bridge construction that will ease the state's traffic congestion.

“The new government needs to create more investment opportunities and jobs, not just in Karnataka but in India, for which Bengaluru can lead the way. The state is very well suited for emerging areas like defence, aerospace and artificial intelligence. And the government needs to set up Centers of Excellence (CoEs), and promote research and development (R&D) with grants to further innovation in those areas,” said K Ganesh, promoter of Big Basket and serial entrepreneur.

Ankit Nagori, founder, Curefoods, hopes for some continuity in policies. "Bengaluru has been the destination where foreign direct investments (FDI) have been top-notch. The new government should make sure that this continues," Nagori said outside Franciscan Institute High School, from where he voted.

Ankit Nagori, Founder, Curefoods

Between Ganesh, Nagori and Mohandas Pai, former Infosys director, the need to improve the state’s infrastructure, especially the Bengaluru public transport network, was among the top asks from the new government which will be announced on May 13, 2023.

Mohandas Pai, also the co-founder of Aarin Capital, hopes the government improves by adding “10,000 e-buses and building 250 kilometers of the metro. At the same time, the city needs to be cleaned and it should be a city that is suitable for walking," Pai replied when asked about his expectations from the budget.

Mohandas Pai, Former Director, Infosys (Picture Courtesy: Twitter)

And from a startup and industry perspective, “Karnataka should create a Rs 1,000 crore R&D fund along with a Rs 5,000 crore fund for startup investments over the next five years."

Founders and investors also urged voters to step out of their homes and make the effort to vote if they wanted to see the state, especially Bengaluru, become more conducive for startups.

"Bengaluru has now become a brand and is touted as the Silicon Valley of India, unlike earlier when it was referred to as the land of elephants and snake charmers, but more needs to be done," K Ganesh said.

“Don’t be lazy. My 88-year-old mother has come out in her wheelchair because she did not want to miss the opportunity to vote. So please make the time and effort to vote,” Ganesh, who is also an investor in Portea Medical, HomeLane, BlueStone and others, said.

K Ganesh (Promoter of Big Basket) with his mother Seethalakshmi Krishnan

His remarks were particularly important because Bengaluru has the dubious distinction of having low polling percentages during elections. The voter turnout in Bengaluru during the 2013 and 2018 assembly polls stood at 62 percent and 57 percent, respectively. In the 2019 Lok Sabha polls, Bengaluru's turnout was 54.1 percent — lower than the 56 percent recorded in 2014.

As of 11 am on May 10, Karnataka had recorded a voter turnout of 20.9 percent. The Election Commission (EC) is currently hoping for a polling percentage of 75 percent in Karnataka and 65 percent to 70 percent in Bengaluru this year.