Karnataka selects 100 start-ups for funding
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.”