Karnataka government to dole it out big to startups

DECCAN CHRONICLE.
Published Jul 5, 2017, 5:43 am IST
Updated Jul 5, 2017, 5:43 am IST
For the first time, the state government will hold open houses in a bid to identify startups in Mangaluru,Hubballi, Kalaburagi and Mysuru.
Speaking to reporters after launching the logo and official website of the Elevate Scheme of IT/BT here, he Priyank Kharge the government had decided to encourage as many startups as possible across Karnataka,  including the Tier-II and tier-II cities.
 Speaking to reporters after launching the logo and official website of the Elevate Scheme of IT/BT here, he Priyank Kharge the government had decided to encourage as many startups as possible across Karnataka,  including the Tier-II and tier-II cities.

Bengaluru: IT and BT and Tourism Minister, Priyank Kharge said here on Tuesday that  the government wanted to see 26,000 startups come up  over the next five years in all districts, including Mangaluru and Kalaburagi with the Rs 400 crore financial assistance it was providing them.

Speaking to reporters after launching the logo and official website of the Elevate Scheme of IT/BT here, he said the government had decided to encourage as many startups as possible across Karnataka, including the Tier-II and tier-II cities.

 

"We have identified 100 more startups and August 29 is the deadline to make them a reality. The government has also launched the ELEVATE 100 programme  to identify 100 of the most innovative startups in Karnataka and take them to next level of success," he added.

 ELEVATE is the brainchild of the Start-up Cell, Karnataka Biotechnology and Information Technology Services (KBITS), which  enables startups across Karnataka to succeed in their tough entrepreneurial journey by providing them access to mentors, networking opportunities, a Rs 400 crore funds, idea validation, incubation facilities and in- depth sessions for startups on accounting, legal and emerging technologies.

 For the first time, the state government will hold open houses to identify startups in Mangaluru, Kalaburgi, Mysuru and Hubli and give them an opportunity to pitch their ideas to the ELEVATE team.  Registrations for ELEVATE begin on July 4 and will end on July 18 for all participants from across Karnataka.

The minister revealed that of the Rs 15.68 crore sanctioned for 40 startups, Rs 10.70 crore was reserved for 26 startups in biotechnology, Rs 1.8 crore for eight  startups in tourism and Rs 3.18 crore for 12 startups in the IT sector. 

Location: India, Karnataka, Bengaluru




ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT