Priyank Kharge unveils two flagship startup programmes

Bengaluru: The Department of Electronics, IT and Bt, Government of Karnataka launched two flagship programs ELEVATE 2024 and KAN (Karnataka Accelerator Network). Elevate 2024 is a grant- in-aid seed fund scheme designed to empower early-stage startups in the state. KAN is an acceleration network that provides mentorship, market access, and funding opportunities for growth-stage startups across the state of Karnataka, with a focus on regions beyond Bengaluru.

Both schemes were officially unveiled by Priyank Kharge, Minister for the Departments of Electronics, IT and Bt, and Rural Development and Panchayat Raj. The Minister also unveiled the event app for the Bengaluru Tech Summit 2024 during the press conference. The app is available for download on both Android and iOS platforms. It is is designed to offer registered delegates, exhibitors, and speakers, an immersive and streamlined experience throughout the summit.

Elevate 2024 underscores Karnataka’s commitment to fostering innovation and entrepreneurship. It provides grants of up to Rs 50 lakhs per startup, along with extensive support, including incubation, expert mentorship, incentives, and access to venture capital networks.

The scheme is a gateway for availing various benefits under the Karnataka Startup Policy 2022-27, such as incentive reimbursements for Patent Costs, Marketing Costs, GST, and Quality Certification Costs, Subsidised incubation with GoK supported sector specific Centers of Excellence and TBIs across the state. Participation in Global Innovation Alliance (GIA) – Market Access Program (MAP), Preferential Market Access (PMA), and the Karnataka Acceleration Network (KAN), along with numerous other supportive schemes designed to foster growth and innovation.

The Department actively encourages startups working in emerging technologies such as DeepTech, AI, ML, Robotics, Blockchain, 5G, IoT, SpaceTech, and CyberSecurity to apply for ELEVATE 2024.