The Karnataka Government under its Elevate programme has shortlisted 77 startups for funding up to a maximum of Rs 50 lakh per startup. The programme is run under the Start-up Karnataka initiative of the Ministry of IT-BT and S&T.
Launched in 2017 by Karnataka, Elevate is a startup initiative which is expected to identify and empower innovators who can provide solutions to the most pressing problems that India faces today.
The programme had received over 600 applications from a variety of tech startups across the state. Out of the 600 applications, 250 startups were selected.
At last, the jury has shortlisted 77 startups for funding.
K J George, the Karnataka Minister for IT-BT and S&T, 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."
Gaurav Gupta, Principal Secretary, Department of IT-BT, said, "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."
"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," Gaurav further added.
