Karnataka announced six new letters of intent (LoIs) and a set of skilling partnerships at the Bengaluru Tech Summit 2025 on November 19. The projects include new units in electronics manufacturing, EV systems, battery recycling, biotechnology and a dedicated drone testing site. The government said the initiatives will add jobs across key sectors and strengthen efforts to expand growth beyond Bengaluru.
The IT minister, Priyank Kharge, said the agreements form part of the state’s wider plan to support innovation clusters and deepen the Local Economy Accelerator Programme (LEAP). The announcements under LEAP include Elevate Next, beginning January 1, 2026, and Elevate Beyond Bengaluru, starting February 1, 2026. He revealed that LEAP is a five-year, ₹1,000 crore programme designed to strengthen clusters outside Bengaluru through infrastructure, funding and sector support.
As many as 40 startups will receive grants ranging from ₹50 lakh to ₹1 crore under Elevate Next, while 50 startups will receive grants of up to ₹50 lakh under the Elevate Beyond Bengaluru programme. The minister further said that the expansion will help “decentralise opportunities” and strengthen the state’s innovation network.
The first LoI covers a drone testing facility to be set up on a 20-acre site in Chintamani by the Drone Federation of India. The government will provide the land, while the federation will bring companies to use the site. This has been provided with an outlay of ₹25 crore to ₹100 crore.
In another major agreement, Global HDI will establish a multi-layer PCB manufacturing plant on an 84-acre plot in Tumakuru with an investment of ₹1,500 crore. The state expects the project to create 1,000 jobs. Moreover, Elleve Solutions will set up a PCB and electronics manufacturing unit in the city, with an investment of ₹250 crore.
Meanwhile, TSUYO Manufacturing has signed an LoI of ₹250 crore to set up an EV powertrain unit in Dharwad. The company plans to produce powertrain systems and generate 700 jobs. Another facility worth ₹350 crore will be established by MiniMines Cleantech Solutions for critical mineral refining. That apart, Eyestem Research has signed an LoI for its vision-restoration work using cell-based therapies.
Alongside the investment announcements, the state also introduced a series of skilling initiatives. Marvell Semiconductor and the Electronics Sector Skills Council of India have signed an MoU to train 90 women in VSLI design and embedded systems. The programme will be offered in Tier 2 and Tier 3 cities and has been integrated with graduation-level courses.
The state also launched the Nipuna Karnataka initiative to train 4,000 youth in fields such as AI, cybersecurity and data science. Officials said the first phase will open access to 2,800 job opportunities with partner companies. The programme will run through four training aggregators working with corporate employers in the technology and finance sectors.
Moreover, in its Bengaluru Innovation Report, the government highlighted the city’s rise as a global tech hub. Bengaluru now ranks as the world’s fifth-largest AI hub, is India’s leading unicorn capital, and accounts for 58% of the country’s total AI funding.
Beyond Bengaluru, emerging clusters in Mysuru, Mangaluru and Hubballi-Dharwad are gaining momentum, backed by new infrastructure, rising investor interest and strong state support.
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