Priyank Kharge launches programme to identify Karnataka's100 promising startups

BENGALURU: IT & BT Minister Priyank Kharge on Tuesday opened the government’s ELEVATE 100 programme. The programme is about identifying 100 of the most innovative startups in Karnataka, and helping them to scale up through both financial support and mentorship.

The government has set up a Rs 400 crore fund to help startups by way of venture funding through partner VC funds. The IT department will help startups with idea validation, incubation facilities and sessions for startups on accounting, legal & emerging technologies.

According to the IT & BT department, registrations for ELEVATE started on July 4 and will be on till July 18 for participants from across Karnataka.

The IT Minister said that the promise of making Karnataka the global hub for startups and a hotbed for innovation will continue. Till date, the government, he said, has 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,” he said.