The Park has been receiving continuous support from both the State and the Central Governments. The Government of Telangana has designated around 600 sq. km. in three blocks around Hyderabad as Genome Valley for life sciences development and one such location is around the IKP Knowledge Park. The State Government has provided 200 acres of land for establishing the Park and also declared the area as a no-pollution zone and prohibited the establishment of polluting industries within a radius of 25 kms. of the Park.
IKP Knowledge Park is recognised by the Government of India as a SIRO (Scientific & Industrial Research Organisation) and is entitled to customs and excise duty waivers. The Park has received partial funding from National Science and Technology Entrepreneurship Development Board (NSTEDB), Department of Science & Technology (DST) to establish the Life Science Incubator and from Department of Scientific & Industrial Research (DSIR), Government of India, to establish the Virtual Information Centre.
The Park is supported by the Department of Biotechnology (DBT) for augmenting its Life Science Incubator facilities. Biotechnology Industry Research Assistance Council (BIRAC) supports IKP with an Ignition Grant. IKP is also an Outreach Centre for the Technopreneur Promotion Programme (TEPP) of DSIR. The Park manages the Micro, Small & Medium Enterprises (MSME) Fund for startup incubatees. IKP's Garden of Life initiative is supported by the National Medicinal Plants Board (NMPB).