Karnataka Picks 101 Startups under Elevate in 2024
The Karnataka government’s flagship startup initiative, Elevate, has made a significant announcement by selecting 101 startups for 2024. As part of this initiative, the selected startups will receive a total seed funding of INR 25 Cr. This development marks a significant milestone in the state’s effort to position itself as a global leader in innovation and entrepreneurship.
According to a report by the Economic Times, Karnataka IT-BT Minister Priyank Kharge stated that the Elevate 2024 initiative is a testament to the state’s commitment to fostering a supportive ecosystem for startups. The initiative aims to identify and nurture innovative startups that have the potential to drive growth and create jobs in the state.
The selected startups will receive a range of benefits, including funding, mentorship, and networking opportunities. The funding will be provided in the form of grants and equity investments, with the aim of helping the startups scale their operations and expand their reach.
The Elevate initiative was launched in 2020 with the goal of supporting startups in various sectors, including technology, healthcare, and education. The program has already seen significant success, with previous batches of startups reporting significant growth and traction.
The selection of 101 startups for 2024 is a testament to the program’s popularity and the state’s commitment to supporting entrepreneurship. The selected startups will be part of a vibrant ecosystem that includes entrepreneurs, investors, and industry experts.
The Elevate program is designed to provide a range of benefits to the selected startups, including:
- Funding: The selected startups will receive a total seed funding of INR 25 Cr, which will be provided in the form of grants and equity investments.
- Mentorship: The startups will have access to a network of experienced mentors who will provide guidance and support throughout their journey.
- Networking: The selected startups will have opportunities to network with other entrepreneurs, investors, and industry experts, which can help them build relationships and secure partnerships.
- Incubation: The startups will have access to incubation facilities and resources, which will provide them with the infrastructure and support they need to scale their operations.
The Elevate program is open to startups that are based in Karnataka and have innovative products or services that have the potential to drive growth and create jobs in the state. The program is designed to support startups at various stages of development, from early-stage to growth-stage.
The selection of 101 startups for 2024 is a significant milestone for the Elevate program, and it is likely to have a positive impact on the startup ecosystem in Karnataka. The program is expected to continue to support entrepreneurship and innovation in the state, and to play an important role in driving growth and job creation.
In conclusion, the selection of 101 startups under the Elevate program in 2024 is a significant milestone for the Karnataka government’s flagship startup initiative. The program is designed to support entrepreneurship and innovation in the state, and to position Karnataka as a global leader in innovation and entrepreneurship.
Source: https://inc42.com/buzz/karnataka-picks-101-startups-under-elevate-in-2024/
