The Karnataka Government under Elevate 2018 – a programme run under the Start-up Karnataka initiative of the Ministry of IT-BT and S&T – has short-listed 77 start-ups for funding up to a maximum of Rs 50 lakh per start up.
The programme, in its second year, witnessed over 600 applications from across the State from a variety of tech start-ups. This initiative is expected to identify and empower innovators who can provide solutions to the most pressing problems that India faces today.
Of the 600 start-ups enrolled in a multi-city pitching event, 250 start-ups were finally short-listed. After this, the jury has selected 77 start-ups for funding.
The start-ups are from Mysuru, Hubbali, Mangaluru, Kalaburgi, and Bengaluru and they are from different sectors like biotech, healthcare, agritech, fintech, logistics, SAAS, urban design and smart cities, and e-commerce.
The Karnataka Minister for IT-BT and S&T, K J George, said: “This initiative will provide an opportunity for young people with brilliant ideas to scale up their solutions. And by helping these tech geniuses reach their potential, we hope that the State of Karnataka will also be able to scale new heights when it comes to technology.”
“A lot of entrepreneurs have ideas that are great - but what can help them really shine is the right guidance from the right people. That is also what we will be providing at the incubator at Elevate 2018,” said Gaurav Gupta, Principal Secretary, and Department of IT-BT.
He added: “The right funding at the right time is important for start-ups, and so is the right mentorship. Through Elevate, the Government of Karnataka will ensure that innovators in the State are not lacking in either.”