In alignment with the Union Budget Speech of FY 2020–21, which proposed the establishment of a “Centre of Agro Innovation” to promote entrepreneurship in agriculture and allied sectors, the Central Government, through its flagship schemes, has extended substantial support to realize this vision in Karnataka. As a result, the Bangalore Bioinnovation Centre (BBC) a Section 8 company promoted by the Karnataka Innovation and Technology Society (KITS) has been sanctioned significant funding to establish a state-of-the-art Agri/Farm Innovation Centre. Key financial backing has been facilitated under Central schemes such as the Rashtriya Krishi Vikas Yojana (RKVY), under which ₹20.00 crores have been sanctioned, and an in-principle approval of ₹47.50 crores has been granted through NABARD under the Rural Infrastructure Development Fund (RIDF).