Good morning, Bengaluru!
☁️ Today’s weather: High: 27 ℃ | Low: 18 ℃ | Fog/mist in the morning and partly cloudy sky later.
🧐 Did you know? The KSR Railway Station opened in 1968.
🚀 Space Policy launched
Karnataka unveiled its Draft Space Technology Policy 2024-2029 at the 27th Bengaluru Tech Summit, aiming to position itself as a leading hub for space technology in India and globally.
What’s it about? The policy targets capturing 50% of India’s space market while enhancing the state’s contribution to the global space economy, which ISRO Chairman Dr S. Somanath highlighted as currently only 2%, with aspirations to grow it to 10%.
- The initiative seeks to capitalise on Karnataka’s established tech ecosystem and emerging private sector capabilities, with Bengaluru already attracting space startups.
- The policy’s strategic goals include fostering research, development, and innovation, supporting startups and MSMEs, and attracting domestic and foreign investment through incentives.
International collaboration: Speaking at the summit, Anne Neuberger, the US Deputy National Security Advisor, emphasised the potential of the India-US partnership in advancing innovation in areas like earth observation, cybersecurity, and private-sector investments.
✒️ ANZ renews lease
ANZ Support Services India Pvt Ltd has renewed its lease for its 6.18 lakh sq ft office space at Embassy Manyata Business Park for a four-year term.
What’s it about? ANZ will be paying a monthly rent of ₹5.94 crore which translates to ₹96 per sq ft per month, with a 15% rent escalation set to kick in after 24 months. The built-to-suit facility, operational since 2005, was tailored in June 2022 to accommodate over 6,000 of ANZ’s employees.
- Recently, JP Morgan Services India Pvt Ltd leased 5.6 lakh sq ft at Embassy TechVillage for over seven years, with a starting monthly rent of ₹4.47 crore.
- Amazon Development Centre India Pvt Ltd had also renewed its 6.76 lakh sq ft lease in Taurus 3, Constellation Business Park, for five years at ₹4.92 crore per month.
Bengaluru’s dominance: According to a CBRE report, Bengaluru dominated India’s office space leasing between January and September 2024, accounting for 30% of the total with 16.4 million sq ft absorbed.
🌆 Model City Plan
The Department for Promotion of Industry and Internal Trade (DPIIT) has finalised model City Logistics Plans (CLPs) for Delhi and Bengaluru to improve urban freight efficiency, reduce logistics costs, and support sustainable urban development.
What’s it about? Developed under the Indo-German Green Freight Project by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), the plans incorporate international best practices to address congestion, pollution, and logistics challenges, enhancing the quality of urban life.
- These model plans serve as templates for Indian cities, offering a theoretical framework to focus on efficient logistics.
- With support from the Delhi and Karnataka governments, the plans aim to reduce freight costs and align with India’s goal of achieving carbon net zero by 2070.
Step by step: The guidelines, based on experiences from Delhi and Bengaluru, outline a methodological approach to tailoring logistics strategies for individual cities. Key steps of the plan include data collection, analysing freight distribution issues, and collaborating with stakeholders to design appropriate infrastructure and policy measures.
🎓 Rice University in Bengaluru
US-based Rice University has launched Rice Global India, a strategic hub in Bengaluru to expand its international presence and foster collaborations in India’s education and technology sectors.
What’s it about? The initiative strengthens Rice University’s ties with leading Indian institutions, including IIT Kanpur and IISc Bengaluru. These partnerships aim to drive research and innovation in critical areas such as artificial intelligence, biotechnology, and sustainable energy while facilitating student and faculty exchanges to enhance cross-border academic collaboration.
- At the ribbon-cutting ceremony, Rice University’s delegation engaged with Priyank Kharge, Karnataka’s Minister for Electronics, IT, Biotechnology, and Science and Technology.
- Their discussions focused on promoting Global Capability Centers and fostering long-term partnerships to advance technology and education in the region.
Initiative’s goal: By establishing a foothold in India, Rice Global India seeks to bridge academic and industry gaps, contributing to advancements in technology and education while promoting sustainable global solutions.
📊 Today’s Poll
(Only subscribers can participate in the polls)
Should ISRO start space tourism programs like Blue Origin?
- ISRO should start space tourism programs like Blue Origin.
- ISRO should not start space tourism programs like Blue Origin.
❓ Today’s Question
(Only subscribers can submit their answers)
Which is the best tech park in the city?
Reply to this email with your answers.
🗞️ In other news…
- The “Bengaluru Rising” report by the UnboxingBLR Foundation has found the city’s rapid growth in jobs, tech innovation, and affordable housing positioning it as a challenger to Delhi and Mumbai.
- Sukrit Mahajan is using shadow theatre and Jungian psychology to reimagine Peter Shaffer’s ‘Equus’ for the city.
- Various government departments and private agencies coordinated to transport a 16-year-old’s liver and kidney from Belagavi for life-saving surgeries in Bengaluru and Dharwad.
- The Grace Hopper Celebration India is back in Bengaluru after five years.
- Bengaluru has absorbed 48% of all VC funding in India over the past decade.
🛋️ Local Lounge
Yesterday’s Poll:
- I have attended events at Palace Grounds: 58.3% 🏆
- I have not attended events at Palace Grounds: 41.7%
Answers to Yesterday’s Question:
How much time do you spend in traffic on a daily basis?
Yogita: “4 hours – both ways”
That’s it for today. Have a great day!