In yet another sign of the expansion and recruitment efforts of Global Capability Centers (GCC) in India, Netherlands-based healthcare company Philips launched its innovation campus in the Embassy business hub in Yelahanka on November 9, 2023.
This 650,000 square-foot campus, which can house up to 5,000 professionals, stands as one of the Philips' largest campuses in the country.
During the inauguration ceremony, Karnataka CM Siddaramaiah said: "Philips has been a key contributor to the Karnataka ecosystem for the past 27 years. The Philips innovation campus in Bengaluru serves as a digital powerhouse, dedicated to crafting healthcare solutions that enhance the lives and well-being of individuals worldwide."
He further emphasised that the Philips innovation campus in Bengaluru will play a pivotal role in driving the company's digital transformation, not only within India but also on a global scale.
"Karnataka has risen as a healthcare hub in India, featuring a robust ecosystem of research institutions, pharmaceutical companies, medical device manufacturers, and healthcare providers. The state's strong emphasis on research and innovation has spurred the growth of this sector, making it a substantial contributor to the state's economy," he added.
The CM highlighted that Karnataka is home to several healthcare companies engaged in cutting-edge technologies aimed at revolutionizing the global healthcare industry.
"The startup ecosystem in Karnataka comprises numerous healthcare and life sciences startups focusing on innovative solutions, including digital health, personalized medicine, and novel drug discovery," Siddaramaiah said.
Industry-friendly policies :
"Karnataka government is making significant strides in enhancing the healthcare ecosystem with renewed technology initiatives, positioning itself as a model state in the health sector. Some of our initiatives include the Bengaluru Bio-innovation Centre (BBC), Karnataka biotechnology policy, bio-venture funds set up to support startups, common instrumental facilities to promote entrepreneurship, and others."
"Karnataka is recognised as a preferred investment destination by leading Indian and global multinational companies," he said.
"Realigning talent to match current growth trends, providing improved infrastructure facilities, enhancing the ease of doing business, and branding Karnataka as a global innovation hub are some of our government's priorities," he said.
The CM said: "Karnataka achieved the 'Top Achiever' rank in ease of doing business (EoDB) across the country in 2022. Our government is dedicated to creating an environment conducive to industry and pro-business policies to attract investment, talent, and opportunities to Karnataka. We want industries to view the state as a hub with an 'end-to-end ecosystem' for innovation and business growth. Our pro-business policies underscore our commitment to simplifying regulatory processes."
"We have policies and initiatives to support and advance this agenda. Karnataka is the first state to introduce sector-specific policies in Startup, IT, AVGC, Biotechnology, and ESDM," he noted.
Roy Jakobs, CEO of Philips, said: "The company is engaged in innovative health technologies aimed at enhancing patient experiences, achieving better health outcomes, improving staff experiences, and reducing the cost of care."
