817 Startups Enroll For Karnataka’s Elevate 2023

817 Startups Enroll For Karnataka’s Elevate 2023

A booming surge in innovation marks Karnataka's startup ecosystem as a staggering 817 startups enroll in the state government's Elevate 2023 initiative, a 46% increase from 2022. This record-breaking response highlights Karnataka's unwavering commitment to fostering entrepreneurship and solidifies its position as a breeding ground for disruptive ideas.

"817 startups have chosen Elevate, showcasing Karnataka's vibrant startup landscape," declares IT-BT Minister Priyank Kharge. "Our government is resolute in empowering these ventures, providing Rs 20 crore in funding and an arsenal of support services to propel them to success."

The Elevate programme offers a comprehensive launchpad for budding businesses, featuring:

  • Financial Boost: Up to Rs 50 lakh grant-in-aid for each selected startup.

  • Expert Guidance: Invaluable mentorship from seasoned professionals.

  • Acceleration Tools: Dedicated incubation facilities and a "booster kit" of resources.

  • Market Access: Connections with venture capitalists and networking opportunities.

  • Sector Focus: Identifying promising startups across IT, biotechnology, agriculture, and more.

  • Inclusive Growth: Elevate Unnati specifically supports startups from SC and ST communities.

Ekroop Caur, Karnataka IT Secretary, affirms, "The overwhelming response demonstrates the program's effectiveness. We will meticulously select the most impactful pitches and equip them with the resources needed to scale their solutions."

Elevate's legacy shines bright, having nurtured nearly 874 startups with Rs 197 crore in funding since its inception in 2015. From incubation facilities and idea validation to expert guidance and funding opportunities, Elevate empowers diverse ventures to blossom across sectors. As an official from the IT department aptly states, "Elevate acts as a catalyst, offering vital support to propel startups towards sustained growth and success."

With record-breaking participation and unwavering government support, Karnataka's startup ecosystem is poised for unparalleled growth. Elevate 2023 sets the stage for a new era of innovation, promising to nurture tomorrow's industry leaders and drive Karnataka's technological revolution forward.

Karnataka, startups, Elevate 2023, funding, incubation, IT, biotechnology, agriculture, SC/ST, mentorship, networking, innovation, entrepreneurship.

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January 6, 2024

Kalpana Maurya