Bengaluru is the fourth most innovative city and is the second fastest growing start-up ecosystem in the world.
“The city hosts diverse industries spanning machine tools, electronics, defence, aeronautics, garments, medical, bio-tech and a host of research institutes, both national and International. In fact by the year 2020, estimates are that city is likely to host around 11,500 start-ups, showing the power of innovation in the city,” said Prof Shivram Mallavalli at the India International Innovation Fair (IIIF) 2016.
Prof Malavalli, is the resident Chairman at San Francisco – Bangalore Sister City Initiative, and has 32 years of industrial and research experience and has been the architect in the establishment, sustenance and growth of the first Science & Technology Entrepreneurs Park (STEP) in the country.
IIIF is a first innovation event targeted at start-ups, hosted in Bengaluru, the innovation capital of India. “Bengaluru has emerged as a global economic hub with a vast pool of highly skilled professionals and will thus be an exemplary test market and an ideal host for the Fair 2016,” said Mallavalli.
Emphasizing the need of innovation R V Deshpande, Karnataka Minister for Large & Medium Industries & Infrastructure Development said, “Sir M Visvesvaraya had said either industrialise or perish, now is the time to either innovate or perish. The Government of Karnataka extends its whole hearted support to IIIF as the policy of the Govt. is to encourage and support start-ups. Karnataka is set to build the future of India and hence it is time to innovate and invest in the state,”
Bengaluru is poised to be the most innovative city in the world, in the next three years, he added.