Cooperation agreement with Karnataka
The State Capital of Düsseldorf is expanding its economic cooperation with India by signing a cooperation agreement with the State of Karnataka. The background to this is the growing importance of India as a source market for investments and skilled workers as well as a technology partner for Düsseldorf's economy. Karnataka, especially the capital city Bangalore, is the most successful tech location in India. The region plays host to more than 40 unicorns, i.e. start-ups with a valuation of more than one billion dollars, and more than 4,000 start-ups. Numerous corporates operate their research and development centres in India's "Silicon Valley".
The cooperation agreement, which is entitled "Karnataka - Düsseldorf Innovation Corridor", was signed on Wednesday, 15 February in Düsseldorf by Mayor Dr. Stephan Keller, after State Secretary Dr. E V Ramana Reddy of the Department of Electronics, Information Technology, Biotechnology and Science & Technology of the State Government of Karnataka had already signed it earlier in Bangalore.
Both partners pledge mutual support for start-ups in the fields of Industry 4.0, digital health and sustainability. Further topics are the linking of the respective start-up ecosystems and the recruitment of talent.
Initial talks between the Office of Economic Development of the State Capital Düsseldorf and the Government of Karnataka already took place in Düsseldorf in 2019. Since then, relations have been enhanced in several reciprocal visits and concrete cooperation topics have been defined. The Ministry of Economic Affairs, Industry, Climate Protection and Energy as well as the state-owned foreign trade promotion agency NRW.Global Business, in particular through its representative office in Bangalore and the German Consulate General in Bangalore, intensively supported the conclusion of the agreement.
Preparations are currently underway for the participation of a group of start-ups from Karnataka in the next Digital Demo Day on 17 August in Düsseldorf. Together with numerous partners, such as the Digihub Düsseldorf/Rhineland, NRW.Global Business, the Indo-German Chamber of Commerce, the Chamber of Industry and Commerce and others, the Düsseldorf Office of Economic Development will prepare an attractive market exploration programme for the start-ups from Bangalore. The return visit of a delegation from the State Capital Düsseldorf led by Lord Mayor Dr. Stephan Keller in November is also already being planned.
Mayor Dr. Stephan Keller: "With the "Karnataka- Düsseldorf Innovation Corridor", we give our companies access to technology partners in India and connect our start-up ecosystem with one of the most successful innovation locations globally."