skip to content

Karnataka Government Initiative Promises ₹5M To Tech Startups

- Advertisement -

Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups.

On Tuesday, the Karnataka government introduced two new initiatives, Elevate 2024 and the Karnataka Accelerator Network (KAN), offering grants of up to ₹5 million for each startup. 

Aiming to enhance the startup ecosystem in the state, these initiatives will also provide comprehensive support such as incubation, expert mentorship, incentives, and connections to venture capital networks.

- Advertisement -

The government announced that the scheme will serve as an entry point for various benefits under the Karnataka Startup Policy 2022-27, including reimbursement incentives for patents, marketing, GST, and quality certification expenses. It encourages startups focused on emerging technologies—such as DeepTech, AI, ML, robotics, blockchain, 5G, IoT, SpaceTech, and cybersecurity—to participate. 

Furthermore, startups will also have access to subsidised incubation through sector-specific R&D centres of excellence (COEs) and technology business incubators (TBIs) located throughout the state.

Since its launch, Elevate has provided funding to a total of 983 startups. On the other hand, KAN is designed for growth-stage startups, promoting collaboration between mentors and mentees through shared networks, resources, and educational opportunities for startups from Bengaluru and beyond. The state department of IT-BT announced that 302 startups are expected to benefit from the programme over six cohorts in the next three years.

IT Minister Priyank Kharge highlighted the state’s longstanding reputation for nurturing a dynamic startup ecosystem during a press conference. He pointed out that Bengaluru is home to 45 of India’s 112 unicorns, with a combined valuation of US$161 billion, aiming to establish itself as a top global hub for innovation and entrepreneurship. Initiatives like KAN will ensure that every region contributes to the state’s economic development.

At the launch event, the IT department also introduced the official Bengaluru Tech Summit 2024 app, designed to improve accessibility for delegates, exhibitors, and speakers and promise a smooth experience throughout the event.

- Advertisement -

Most Popular Articles

Shubha Mitra
Shubha Mitra
Shubha is a journalist at EFY. She is keenly interested in India's evolving electronics ecosystem. Her focus revolves around government policies, legislation, and public-private partnerships related to the industry.

The Most Popular Smartphone of 2024 Is Apple’s iPhone 15!

0
With Apple and Samsung dominating the 'Top 10', iPhone 15 becomes the most sold smartphone worldwide in 2024. Samsung claimed four spots, led by...

Tata To Complete Micron’s Sanand ATMP Facility By December 2025

0
Set to generate massive employment, Tata Projects revealed that Micron’s ATMP facility in Sanand will be completed by December 2025. After the handover, Micron...

Tata Electronics Expands Team In The US, Eyes Business Growth

0
To strengthen global client ties and drive new business growth, Tata Electronics is reportedly expanding in North America, hiring professionals across the US in...

NXP to Reduce Workforce Amid Economic And Trade Pressures

0
Amid shrinking profits and demands and EU-US trade talks, NXP plans to reduce its workforce by 5 per cent in Europe as market pressures...
Quantum Technology

Japan’s New Tech Export Controls Strain China Trade

0
While the US pushes for stricter limits on tech exports, Japan tightens export controls on semiconductors and quantum tech, sparking China’s concerns over trade...
Khushal Panchal,  chief operating officer (COO), PCB Power

“We Differentiate Ourselves By Producing Radio Frequency PCBs For Wireless Communication Devices” – Khushal...

0
With technology and policy support, Indian PCB manufacturing is at a turning point. Can innovation and scale match global giants? PCB Power leads the...
Jayesh Ranjan IAS, Special Secretary, Department of Industries and Commerce and ITE&C, Government Of Telangana

“To Compensate For Telangana’s Lack Of A Wet Port,Our Incentives Help ESDM And Semiconductor...

0
Despite logistics challenges, how is Telangana securing billion-dollar investments in electronics? Will the state unveil a new semiconductor policy soon? Jayesh Ranjan, IAS, from...
Shrinivas Kulkarni CFO, Cyient DLM

“Acquisitions That Help Address Gaps In Our Design Capabilities….. Interest Us” – Shrinivas Kulkarni,...

0
Over the past five years, Cyient DLM (formerly Rangsons Electronics), a subsidiary of Cyient Limited, has rapidly expanded its footprint in the design-led manufacturing...
Akshay-Kashyap-of-Greenfuel-Energy

“Many Companies Avoid Pack Testing And Validation Because It Is Time-Consuming” – Akshay Kashyap,...

0
Battery pack reliability goes beyond cell quality—it relies on precise engineering, thorough testing, and tailored thermal management. In a conversation with EFY’s Nitisha Dubey,...
Sambit Parida, CTO and Co-Founder of IG Drones

“If A Hacking Attempt Is Detected, The System Automatically Secures Or Erases Critical Data...

0
From handling defence-specific tasks with or without human intervention to withstanding extreme weather, how capable are drones? What if someone tries to hack sensitive...

Union Budget 2025-26: What It Has For The Electronics Sector?

0
With reduced and exempted duties, tax relief for manufacturing, and increased support for startups, this Budget addresses a broader range of issues within the...

IndiaAI Mission Expands To 18,693 GPUs For R&D

0
Aiming to support R&D and ethical AI, Union Minister Ashwini Vaishnaw announced the expansion of IndiaAI’s GPU infrastructure to 18,693 to benefit startups and...
Sambit Parida, CTO and Co-Founder of IG Drones

Innovative Drone Technologies from IG Drones Driving Efficiency Across Sectors

0
Haryana-based IG Drones develops advanced surveillance, agriculture, and defence technologies, focusing on improving adaptability and operational precision. Founded in 2018 by Om Prakash and Bodhisattwa...
Prem Kumar Vislawath, CEO and Co-Founder, Marut Drones

Marut Drone-Powered Solutions For Agricultural Intelligence And Automation

0
Founded in Telangana in 2019 by CEO Prem Kumar Vislawath with co-founders Sai Kumar and Suraj Peddi, Marut Drones leverages drone technology to tackle...
EV charging station (LEV AC)

Kazam Simplifies EV Charging With Innovative Hardware And Software Solutions For All

0
Kazam, founded in Bengaluru in December 2020, took an unconventional leap from content creation to pioneering electric mobility innovations in India. Initially launched as a...

Industry's Buzz

Learn From Leaders

Startups