Karnataka Elevate 100 Scheme for Start-Ups
The Karnataka State Government has launched a new scheme named Elevate 100 Scheme the identification and development of innovative start-ups.
Details of Elevate 100 Scheme
According to the Minister for IT and BT Mr. Priyank Kharge, the main motto of Elevate 100 Scheme is to identify 100 most innovative start-ups in the state to elevate them to the next level of success.
He added that through Elevate, the government will not only help in funding as not all startups need funding. So the government will provide technical and business support based on their need.
According to the news, the government have identified about 46 start-ups and allocated ₹15.68 crore in the field of biotech (26 start-ups, ₹10.70 crore), tourism (8 start-ups, ₹1.80 crore) and IT (12 start-ups, ₹3.18 crore).
The minister had also disclosed the website and logo for Elevate 2017 (www.elevate.bengaluruite.biz).
The Karnataka government will hold open houses for the identification of start-ups in Mangaluru, Kalaburgi, Mysuru and Hubli for the first time. Start-ups from these cities will get an opportunity to pitch their ideas to the Elevate team.
For this, the registrations will begin on July 4 and continue till July 18.
Karnataka Chief Minister Siddaramaiah said that the main motto of the government behind launching this scheme is to extend holistic support to startups by offering mentorship and funding. Bengaluru has the most suitable environment for start-ups with innovative ideas and is considered one of the most dynamic cities in the world. The state government will ultimately look for great ideas that use technology to solve bigger problems in our society.