Karnataka unveils 2 flagship startup programs

Karnataka's IT Minister Priyank Kharge has launched two flagship startup programs: ELEVATE 2024 and the Karnataka Acceleration Network (KAN).

These initiatives aim to support and empower startups across the state.

ELEVATE 2024

Grant-in-Aid: Provides grants of up to ₹50 lakh per startup.

Support Services: Includes incubation, expert mentorship, incentives, and access to venture capital networks.

Focus Areas: Encourages startups working in emerging technologies such as DeepTech, AI, ML, Robotics, Blockchain, 5G, IoT, SpaceTech, and CyberSecurity. Impact: Expected to benefit 302 startups over six cohorts in three years.

Karnataka Acceleration Network (KAN) 

Mentorship and Market Access: Offers mentorship, market access, and funding opportunities for growth startups across the state, with a focus on regions beyond Bengaluru.

Economic Growth: Aims to contribute to the state's economic growth by nurturing a vibrant startup ecosystem.