Karnataka Department of Information Technology (IT) and Biotechnology (BT) has signed a memorandum of understanding (MoU) with the Embassy of Finland on September 11, in Bengaluru, in order to set up a Karnataka-Finland Innovation Corridor in the state.

The corridor offers a virtual platform facilitating the exchange of information and expertise in the fields of science, research, innovation and skill development.

The pact between the two aims at identifying mutual interests and organising joint projects, such as start-up incubation programmes, research programmes, events, competitions and exposure visits.

According to a source, i-SAMARTH programme initiated by Nokia will also act as an informal focal point for IoT-related Indian and Finnish companies to collaborate in the fields of research and development (R&D) and innovation.

Speaking at the signing, Minister of IT, BT and Tourism Priyank Kharge said, “Karnataka-Finland innovation corridor is a brilliant platform for collaborations between start-up incubators and accelerators of the two regions.”

Signed an MOU for Karnataka-Finland innovation corridor, a brilliant platform for collaborations between startup incubators & accelerators. pic.twitter.com/1M6B3PYoJg

— Priyank Kharge (@PriyankKharge) September 11, 2017

As per the MoU signed, a high-level steering committee, constituted to oversee the pace and progress of the Karnataka–Finland Innovation Corridor, will meet at least once in six months.