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Business Economy


Karnataka launches Elevate 2017 to identify 100 startups

Karnataka launches Elevate 2017 to identify 100 startups

Bengaluru, July 4 (UNI) Continuing its support for the Information Technology and Bio-Technology sectors, the Government of Karnataka today launched the ELEVATE 2017 program to identify 100 of the most innovative startups in the State to elevate them to next level of success. Speaking after the launch, Chief Minister Siddaramaiah said: "This initiative is aimed to help entrepreneurs and startups grow successfully on their own. We aim to extend our holistic support to them by offering mentorship and funding. Benglauru has the most suitable environment for startups with innovative ideas and is considered one of the ‘most dynamic cities in the world’. We will ultimately look for great ideas that use technology to solve bigger problems in our society." Minister for IT, BT Priyank Kharge, said: "The promise of making Karnataka the global hub for startups and a hot bed for innovation will continue. Till date, we have identified 46 startups and sanctioned Rs 15.68 crore in the field of biotechnology (26 startups, Rs 10.70 crore), tourism (8 startups, Rs 1.80 crore) and IT (12 startups, Rs 3.18 crore)." "Through ELEVATE, we will identify potential startups. We will not only help in funding but not all startups need funding. So, we will also provide technical and business support based on their need," he added. The official website and logo for its flagship initiative, ELEVATE 2017 (www.elevate.bengaluruite.biz) was launched on the occasion. ELEVATE is the brainchild of the Start-up Cell, Karnataka Biotechnology and Information Technology Services (KBITS), For the first time, the State Government will be holding open houses to identify startups in Mangaluru, Kalaburagi, Mysuru and Hubballi. Registrations for ELEVATE will be on till July 18 for all participants from across Karnataka. ELEVATE was launched in partnership with the Deshpande Foundation, The Indus Entrepreneurs and others to empower startups to scale operations. It aims to eventually identify and support as many startups from smaller cities and towns. ELEVATE will identify innovative companies in the state from various fields and industries, including IT, Electronic System Design Manufacturing, Animation Visual Gaming & Comics, Biotechnology, Pharmaceuticals, Agriculture and Life Sciences. UNI MSP CS 1830

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