The Karnataka Cabinet on Thursday approved a start-up policy of the State for 2022-27 which aims at stimulating the growth of 25,000 start-ups by 2027.

Currently, the State has around 15,000 start-ups and the new policy has set a goal to add to the number at least 10,000 start-ups in 5 years, Minister for IT/BT CN Ashwath Narayan’s office said in a statement.

“The new policy framed by the Department of Electronics and IT/BT has the aim of positioning Karnataka as the ‘Champion State’ for start-ups and further increase the number of high-growth start-ups by 2027,” Narayan was quoted as saying in the statement.

According to him, the policy would help create an enabling environment for nurturing start-ups throughout their business life-cycle and make the State a global innovation hub for start-ups.

The policy focuses on promoting start-ups in emerging technology clusters 'Beyond Bengaluru' by creating a conducive environment and offering start-ups an ideal ecosystem for growth, he said.