Elevate Karnataka: Government Funding and Mentoring for Startups

Under the Elevate Karnataka programme, the government of Karnataka is offering a unique opportunity for startups to receive funding and mentoring. With a budget of Rs 20 crore, the government aims to support around 100 startups this year. If you are a startup looking to scale up and in need of early-stage funding, this is your chance. Keep reading to learn more about this exciting initiative and how you can apply for a one-time grant of up to Rs 50 lakh.

Elevate Karnataka: Empowering Startups with Funding and Mentoring

Learn about the Elevate Karnataka programme and how it is empowering startups through funding and mentoring.

Startups often face challenges in securing funding and guidance to scale up their operations. However, the government of Karnataka has taken a pioneering step to address this issue through the Elevate Karnataka programme. This initiative aims to provide startups with the necessary financial support and mentoring to fuel their growth.

Under the programme, the government has allocated a budget of Rs 20 crore to fund approximately 100 startups this year. What sets this programme apart is that the government is offering a one-time grant of up to Rs 50 lakh to each selected startup, without taking equity in return. This approach encourages innovators who may need early-stage funding to pursue their entrepreneurial dreams.

By supporting startups through funding and mentoring, the government of Karnataka is fostering a thriving ecosystem for innovation and entrepreneurship. This article delves deeper into the Elevate Karnataka programme, its impact on the startup landscape, and how aspiring entrepreneurs can benefit from this unique opportunity.

Funding and Support for Startups: Breaking Barriers

Explore how the government of Karnataka is breaking barriers by providing funding and support to startups.

Access to funding is often a major hurdle for startups, especially in their early stages. However, the government of Karnataka is breaking barriers by offering financial support to startups without expecting equity in return. This approach is a game-changer, as it allows startups to retain control and ownership of their ventures while receiving the necessary funding to scale up.

Since 2015, the government has funded 874 startups with a total investment of Rs 197 crore. Notably, 24% of these startups are from Tier-2 and Tier-3 cities, showcasing the government's commitment to promoting entrepreneurship beyond metropolitan areas. Additionally, 30% of the funded startups are founded by women, highlighting the government's efforts to empower female entrepreneurs.

The government follows a rigorous evaluation and selection process for funding startups. This includes assessing data sufficiency and eligibility, offline pitching, multi-city pitching, and a grand finale where the winners are announced. The selected startups receive the funding and support they need to turn their innovative ideas into successful businesses.

Elevate Unnati: Encouraging Startups from SC and ST Communities

Discover how the government is promoting startups from SC and ST communities through the Elevate Unnati program.

Inclusive growth is a key focus of the government's startup initiatives. The Elevate Unnati program specifically targets startups founded by individuals from Scheduled Castes (SC) and Scheduled Tribes (ST) communities. Through this program, the government aims to provide funding and support to empower entrepreneurs from marginalized backgrounds.

So far, 91 startups founded by SCs and STs have received funding under the Elevate Unnati program. Additionally, startups from the Kalyan-Karnataka region have received Rs 3.5 crore in funding. This targeted approach ensures that aspiring entrepreneurs from underrepresented communities have equal opportunities to succeed.

The government's commitment to promoting diversity and inclusivity in the startup ecosystem is commendable. By providing funding and support to startups from SC and ST communities, the government is creating a level playing field and fostering a culture of entrepreneurship among marginalized groups.

How to Apply for Funding and Mentoring under Elevate Karnataka

Learn how startups can apply for funding and mentoring under the Elevate Karnataka programme.

If you are a startup looking to benefit from the Elevate Karnataka programme, here's how you can apply:

Gather Your Documents and Data

Before applying, ensure that you have all the necessary documents and data ready. This may include your business plan, financial projections, and any other relevant information that showcases the potential of your startup.

Visit the Official Website

Go to the official website of the Elevate Karnataka programme to access the application portal. Fill in the required details and submit your application online.

Prepare for Offline Pitching

If your application is shortlisted, you may be invited for offline pitching. This is an opportunity to present your startup to a panel of experts. Prepare a compelling pitch that highlights the uniqueness of your idea and its potential for growth.

Grand Finale and Funding Announcement

If you make it to the grand finale, you will have the chance to showcase your startup on a larger platform. The winners will be announced during this event, and the selected startups will receive the funding and mentoring support to take their ventures to the next level.

Don't miss this incredible opportunity to receive funding and mentoring for your startup. Apply now and turn your entrepreneurial dreams into reality!