Karnataka government selects 101 startups under Elevate, offers Rs 25 crore in seed funding

Karnataka’s flagship startup initiative, Elevate, has selected 101 startups, granting Rs 25 crore in total seed funding for 2024.

Forty-two of the selected startups are led by women, while 36 are from beyond, or outside, Bengaluru.

“The Elevate 2024 initiative marks a significant milestone in our continued effort to position Karnataka as a global leader in innovation and entrepreneurship,” said IT-BT minister Priyank Kharge. The state government’s goal is to be in the top three global startup ecosystems and Elevate is an initiative in that direction, he said.


So far, since its inception, the programme under the IT-BT department has disbursed Rs 249 crore, aiding 1,084 startups. A quarter of them 25% are led by women while 30% are from regions beyond Bengaluru, the government said.

“With 45 unicorns and a valuation of $161 billion, Bengaluru is at the forefront of the global startup revolution. The participation of women entrepreneurs and startups from beyond Bengaluru highlight our commitment to inclusive growth and decentralised innovation,” Kharge said during a ceremony held on Wednesday to felicitate the selected startups.

The selected startups have been mapped to K-Tech Hubs and Centres of Excellence for mentorship, incubation and ecosystem integration.

Kharge said in 2024 the AVGC (animation, visual effects, gaming and comics) sector was a key focus with the top two startups—Pocket Coach Technologies and Zebu Films—receiving the highest funding.

Out of the 101 selected startups, 17 rural innovation startups from outside Bengaluru were identified for their impact-driven solutions. The minimum grant disbursal was Rs 21 lakh, while the upper cap is Rs 50 lakh.

“The government will continue to expand ecosystem support, enhance funding avenues and promote inclusive growth to position Karnataka as India’s premier startup hub,” the IT-BT department said in a news release.