Kar­nataka se­lects 100 start-ups for funding

The Hindu Business Line - - FRONT PAGE -

The Kar­nataka gov­ern­ment’s start-up road­show ‘El­e­vate 100’, which tra­versed the length and breadth of the state, has picked up 100 most in­no­va­tive star­tups for scale-up and funding.

“The se­lected start-ups will have ac­cess to the gov­ern­ment’s ₹400-crore start-up fund and get men­tor­ing from in­dus­try ex­perts, idea val­i­da­tion, ad­vi­sory and le­gal sup­port,” said Priyank Kharge, Min­is­ter for IT, BT & Tourism.

‘El­e­vate 100’ is a joint ini­tia­tive of the Start-up Cell and Kar­nataka Biotech­nol­ogy and In­for­ma­tion Tech­nol­ogy Ser­vices (KBITS). The pitch­ing ses­sions were held in My­suru, Kal­aburagi, Man­galuru, Hub­balli and Ben­galuru, where 1,700 start-ups par­tic­i­pated.

“The ef­fort of state gov­ern­ment doesn’t stop at el­e­vat­ing the cho­sen 100. We see El­e­vate 100 as a con­tin­u­ing process where the best ideas gets the sup­port and guid­ance it de­serves,” said Kharge. “Kar­nataka is home to the world’s fastest grow­ing start-up ecosys­tem. We are try­ing to nur­ture this ecosys­tem with strong poli­cies such as IT Pol­icy, Start-up Pol­icy, BT Mil­len­nium Pol­icy, ESDM Pol­icy and the KAVGC Pol­icy, giv­ing the ecosys­tem a strong foun­da­tion to help en­trepreneurs and es­tab­lished in­dus­tries to flour­ish,” Kharge said.

Re­count­ing the year-long jour­ney of ‘El­e­vate 100’ road­show, Gau­rav Gupta, Prin­ci­pal Sec­re­tary, IT, BT & ST, said, “This is just one of the many ini­tia­tives aimed at cre­at­ing the largest pool of tal­ented en­trepreneurs in Kar­nataka. Sub-seg­ments such as AI & Ro­bot­ics are al­ready be­ing nur­tured through var­i­ous Cen­tres of Ex­cel­lence. A harbinger of great things to come, the tar­get is to cre­ate 20,000 suc­cess­ful start-ups through con­tin­u­ous en­gage­ment.”

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