Tuesday, January 18, 2022

Government to Identify 100 most innovative startups in the state through ELEVATE 2017

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Continuing its support for the Information Technology and Bio Technology sectors, the Government of Karnataka is taking a big step forward with a first of its kind initiative in India.

Government has launched the ELEVATE 100 program which aims to identify 100 of the most innovative startups in Karnataka to elevate to them to next level of success. The official website and logo for its flagship initiative, ELEVATE 2017 will be unveiled by State IT, BT Minister, Priyank Kharge.

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 Cr funds, idea validation, incubation facilities & in depth sessions for startups on accounting, legal & emerging technologies.

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.

Registrations for ELEVATE begin on July 4 and will be on till 18th July for all participants from across Karnataka.

Commenting on ELEVATE 2017, Chief Minister of Karnataka, Siddaramaiah, 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.

“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.”

ELEVATE was launched by the Government of Karnataka in partnership with the Deshpande Foundation, The Indus Entrepreneurs and others to empower startups to scale operations. It aims to eventually identify and support as many startups from smaller cities and towns. ELEVATE will identify innovative companies in the state from various fields and industries, including IT, Electronic System Design Manufacturing, Animation Visual Gaming & Comics, Biotechnology, Pharmaceuticals, Agriculture and Life Sciences.

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