Karnataka Govt. to mentor 100 startups Under Elevate 100 Program

The Karnataka government is planning to mentor 100 innovative startups under Elevate 100 Program in August this year.

To aid innovation in the state, the government has setup a Rs. 400 crore fund for startups.

Speaking at CII India Innovation Summit 2017, Priyank Kharge, Minister for IT, BT, Science & Technology and Tourism, Government of Karnataka said, “The Government of Karnataka innovation centres are more like ideation centres and the state is focused on fostering innovation at the bottom of the pyramid. The Government of Karnataka is constantly introducing policies and schemes to build the startup ecosystem of the state. The ‘Idea to POC’ scheme is one such step where a grant of up to 50 lakhs will be given for startups with proof of concepts.”

Kharge said that the state will be announcing 100 most innovative startups in August this year under Elevate 100 Program, to make innovation marketable and scalable and asked the industry to partner with the government in not only identifying the 100 startups, but in working with the government to ensure that these startups scale up.

Emphasising the role of Government of Karnataka in building the startup ecosystem, he said that out of 7,000 startups in Bengaluru 3,000 are registered with the government and the government’s startup cell provides them with relationship managers, mentors, legal help, IP reimbursement and networking opportunities.

The Government of Karnataka is also collaborating with startup centres around the world through cross-border entrepreneurship projects and partnership with cities around the world. This has resulted in a vast pool of shared learning. The government is also assisting startups in idea validation which according to him is the most important aspect for startups.

Speaking on Skill development Kharge said automation is the way forward and for this, it is important to upskill our workforce. He said that in recognition of this the Government of Karnataka through its centres of excellence in Aerospace, Big Data, Digital Media, Artificial Intelligence, Cyber Security and several other verticals will ensure that the state has the requisite skillsets for emerging technologies.

The two-day summit deliberated on various topics including Teens as Innovators to disrupt the existing businesses, Rise of Machines and Future of Human Labour, India’s digital transformation into a cashless economy, the great expectations on the e-commerce industry – scaling the consumption economy, the role of society and culture on innovation, the rise of personalized/precision medicine, the role of technology in continuing education, and intellectual property rights and the scope of innovation as a new state diplomacy.

 

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