Aimed to trigger the startup ecosystem in the State to the next level, the government of Karnataka has announced the names of 100 startup winners’ list out of 1700 applications it received, during the course of its two-day grand finale of India’s first comprehensive entrepreneurship platform, ELEVATE 100 on 29-30 August, 2017. A brainchild of the State government, the ELEVATE 100 programme is a combined initiative of the Startup Cell, Karnataka Biotechnology and Information Technology Services (KBITS) Government of Karnataka. According to the press release, this initiative would also give the selected 100 startups access to the government’s $62.5Mn cumulative startup fund as well as offer mentoring from industry experts, idea validation, advisory and legal support.
The startups from various sectors include ESD -27, Life Sciences -19, BioTech 11, Agri Tech – 11, AVGC- 4, Clean Tech -4, and IT/ITES 26. Women Entrepreneurs -19, Rural -11.
Launching the platform’s two-day jam packed finale sessions, the State’s IT, BT & Tourism Minister Priyank Kharge said, “The efforts of the Karnataka government won’t stop at elevating the chosen 100. We see ELEVATE 100 as a continuing process where the best ideas from the state gets the support and guidance it deserves.”
— Priyank Kharge (@PriyankKharge) August 30, 2017
“Karnataka is home to the world’s fastest-growing startup ecosystem. The government is trying to nurture this ecosystem with strong policies like the IT Policy, Start-up Policy, BT Millennium Policy, ESDM Policy and the KAVGC Policy, giving the ecosystem a strong foundation to help entrepreneurs and established industries to flourish,” Kharge added.
According to Gaurav Gupta, IAS, Principal Secretary Department IT, BT & ST, this was just one of the many initiatives aimed at creating the largest pool of talented entrepreneurs in Karnataka. Sub segments such as AI & Robotics are already being nurtured through various Centres of Excellence. “A harbinger of great things to come, the target is to create 20,000 successful startups by celebrating and supporting them through continuous engagement,” stated Gaurav.