Karnataka Government launches “Program ELEVATE 100” to aid startups

Government of Karnataka has introduced the ELEVATE 100 program which aims to identify and support 100 of the most innovative startups in Karnataka.

Registrations for ELEVATE have already started from 4th July and will be open till 18th July for all participants from across Karnataka.

For the first time, the State Government will be holding open houses to identify startups in Mangaluru, Kalaburgi, Mysuru and Hubli. Startups from these cities will get an opportunity to pitch their ideas to the ELEVATE team.

ELEVATE is the brainchild of the Start-up Cell, Karnataka Biotechnology and Information Technology Services (KBITS), Government of Karnataka, which will enable startups across Karnataka to succeed in their tough entrepreneurial journey by providing them with access to mentors, networking opportunities, access to Rs.400 crore funds, idea validation, incubation facilities and in-depth sessions for startups on accounting, legal and emerging technologies.

Siddaramaiah, Chief Minister of Karnataka, said, “The Government is happy to be inaugurating this program today. It is one of the highlights of the work that we are doing to boost trade and business in Karnataka.”

He added, "This great initiative is aimed to help entrepreneurs and startups grow successfully on their own. We aim to extend our holistic support to them by offering mentorship and funding. Benglauru has the most suitable environment for startups with innovative ideas and is considered one of the ‘most dynamic cities in the world’. We will ultimately look for great ideas that use technology to solve bigger problems in our society."
 

State IT, BT Minister, Priyank Kharge, said “The promise of making Karnataka the global hub for startups and a hotbed for innovation will continue. Till date, we have identified 46 startups and sanctioned Rs.15.68 crore in the field of biotechnology (26 startups, Rs.10.70 crore), tourism (8 startups, Rs.1.80 crore) and IT (12 startups, Rs.3.18 crore). Through ELEVATE, we will identify potential startups. We will not only help in funding but not all startups need funding. So, we will also provide technical and business support based on their need.”

The scheme is an initiative by the Government of Karnataka in partnership with the Deshpande Foundation, The Indus Entrepreneurs and others to empower startups in the state from various fields and industries and help them to scale operations

The official website and logo for its flagship initiative, ELEVATE 2017 (www.elevate.bengaluruite.biz) will be unveiled by the State IT, BT Minister, Shri Priyank Kharge.