1WHY SHOULD I REGISTER WITH DEPARTMENT OF IT, BT AND S&T?
To avail the benefits and incentives under different Policies of the Department of IT, BT and S&T.
2HOW DO I REGISTER WITH THE DEPARTMENT OF IT AND BT?
Please go to the http://registration.k-tech.org/ and fill up the online form available, please read instructions before filling up the form.
- On successful completion of the online application form and uploading all relevant documents, the application will be processed for Registration based on the Sector you choose.
- Documents to be uploaded
- Audited financial statements for the last one year of operations of the applicant and annual reports.
- Certificate of Incorporation.
- Newly incorporated companies should produce CA certified detailed project reports on the business that includes financial projections for the next three years.
- Certified copy of Memorandum and Articles of Association / Certificate of Commencement of business / Partnership Deed / Trust Deed / Registration Certificate from Registrar of firms / societies, as the case may be
- Land documents like Khata/ Lease Agreement
- STPI registration( not mandatory)
- There is a one-time charge of INR 10,000 for registration, exclusive of the applicable GST for IT, BT, ESDM and AVGC companies. For IT & BT Park and Rs. 20,000 + 18% GST should be paid as a demand draft in favor of “Managing Director, KITS”.
- Currently the demand draft should be uploaded online.
3HOW LONG DOES IT TAKE TO GET REGISTERED?
You can avail the Registration Certificate within 30 working days post successful submission of your application and provided you have submitted all required documents and qualify for Registration as per Karnataka Biotechnology Policy 2017-22
4AM I ELIGIBLE TO REGISTER UNDER KARNATAKA BIOTECH POLICY 2017-22?
Yes if you qualify the definition as mentioned in the Karnataka Biotech Policy 2017-22 and if your company is located in Karnataka
5WHAT ARE THE INCENTIVES UNDER THE KARNATAKA BIOTECH POLICY 2017-22?
Once registered under the Karnataka Biotech policy 2017-22, the registered company will be eligible to apply for the following incentives.
- Anchor Unit Subsidy
- Reimbursement of Costs for preparation of Project Report
- Power Tariff Concessions
- Interest Subsidy for Technology Upgradation for MSME’s
- Reimbursement of cost incurred for Standardization Certification
- Reimbursement of cost incurred for Patent Registration
- Marketing Incentives
6 WHAT DO REIMBURSEMENTS FOR PATENT SPENDS COVER ?
- The reimbursement will be done in 2 stages, i.e., 75% after the patent is filed and the balance 25% after the patent is granted.
- Domestic Patents:The cost of filing and prosecution of patent application will be reimbursed to the registered companies subject to a limit of Rs. 2 lakh (0.2 million) per Indian patent awarded.
- Foreign Patents:For awarded foreign patents on a single subject matter, upto Rs. 10 lakh (1 Million) would be reimbursed.
7 WHAT DO REIMBURSEMENTS OF MARKETING SPENDS COVER ?
Government shall provide reimbursement of 30% of the actual costs including travel incurred in international marketing through trade show participation. This incentive will be subject to a maximum of Rs. 2 Lakhs per company.
8WHAT IS THE BENEFIT OF GETTING POWER TARIFF CONCESSION FROM DEPT. OF IT AND BT?
A recommendation certificate from KITS – Department of IT, BT and S&T to BESCOM to help in power tariff concession would be provided.
Based on the recommendation letter, Industrial Power Tariff (instead of commercial power tariff) will be applicable to registered Biotech companies including start-ups, MSMEs, large scale units engaged in Biotechnology Activities in Karnataka. This will be subject to KERC regulations.
9WHAT IS THE PROCEDURE FOR APPLYING TO VARIOUS INCENTIVES FROM DEPT. OF IT AND BT?
Please refer the operational guidelines for Karnataka Biotechnology Policy 2017-22 for the procedures to be followed for each incentive.