From Our Special Correspondent
Daijiworld Media Network - Bangalore

Bangalore, Feb 29: Perhaps for the first time in the entire country, Karnataka unveiled an animation, visual effects, gaming and comics policy with the objective of making the State the most-favoured destination for investment in the sector.

The Karnataka Animation, Visual Effects, Gaming and Comics (KAVGC) policy, which was unveiled by the State’s Labour Minister B N Bache Gowda in Bangalore on Februry 29, the leap year day of 2012, aims ``at increasing efforts of enhancing investment and growth in the sector and promote job opportunities for rural artists apart from generating career opportunities for urban youth.”

The policy would lead to economic upliftment of large strata of economically backward sections of society, especially in rural areas, IT and BT (Bio-tech), Principal Secretary M N Vidyashankar, said.

It also aims at setting up a `Centre of Excellence’ in Bangalore with the state-of-the-art facilities to act as catalyst for the AVGC industry, Vidyashankar said.

The centre would be set up on public-private partnership model with financial contribution from state and central governments.

“The central government will contribute 30 per cent of the cost, while the state government and industry-private partners will contribute 20 and 50 per cent, respectively,” the minister explainded.

A venture capital fund for KAVGC sector would be set up with an initial fund of Rs 50 crore which would be funded jointly by government and private venture capitalists to meet the needs of the entrepreneurs, Vidyashankar said.

Karnataka has more than 20 training institutes imparting AVGC related training through more than 60 campuses across the state. Currently, more than 10,000 students are undergoing training and the figure is likely to increase to 25,000 by this year end.