Startups receive ₹25 crore grant under ELEVATE 2024 from Karnataka government
The Hindu
Government of Karnataka awards ₹25 crore to 101 startups under ELEVATE 2024 initiative, promoting innovation and entrepreneurship statewide.
The Government of Karnataka has awarded ₹25 crore in grants to 101 startups as part of the ELEVATE 2024 initiative, aimed at fostering innovation and entrepreneurship. The companies recognised under the programme this year included 42 women-led ventures and 36 startups from beyond Bengaluru.
“This year, we saw strong participation from startups across all districts of Karnataka, with fourteen districts represented among the winners. Notably, 17 rural innovation startups addressing real-life challenges at the grassroots level have been funded,” said Priyank Kharge, Minister for IT & BT, and Rural Development.
He added that a total of ₹25 crore has already been disbursed to support the selected ventures. Mr. Kharge also noted that the startups from regions beyond Bengaluru reinforced the government’s belief that innovation is no longer confined to Bengaluru alone.
Along with Mr. Kharge, Ekroop Caur, Secretary - Department of Electronics, IT, BT, and Science & Technology, Rahul Sharanappa Sanaknur, Managing Director, KITS, and Daljeet Kumar, Deputy Secretary, Department of Electronics, IT, BT, and Science & Technology, were present at the felicitation ceremony.
ELEVATE, Karnataka’s flagship startup initiative, has disbursed ₹249 crore in seed funding across 21 programme calls, benefiting 1,084 startups to date. The government support includes a grant-in-aid of up to ₹50 lakh each, incubation support, mentoring by experts, a booster kit, incentives and VC connects.
Run 3 Space | Play Space Running Game
Traffic Jam 3D | Online Racing Game
Duck Hunt | Play Old Classic Game
Ministry of Communications to invest ₹36,950 crore in Vodafone Idea, raising stake to 48.99% through equity shares.
India and the U.S. to hold sector-specific talks to finalize bilateral trade agreement structure in coming weeks.
Public Accounts Committee calls for comprehensive review of GST framework, highlighting issues with refunds, cancellations, and impact on MSMEs.
Ravichandran Purushothaman elected Vice Chairman of CII, leading Danfoss India in energy-efficient technologies and sustainability solutions.
Park Medi World plans IPO to raise ₹1,260 crore for debt payment, hospital development, medical equipment, and inorganic acquisitions.
German company to invest $1.5 billion in India, state identifies land, Minister Goyal announces at UIA session.
Government maintains unchanged interest rates on small savings schemes for fifth consecutive quarter starting April 1, 2025.
AERA allows Delhi airport to charge higher fees for business class passengers on international flights, rejecting variable tariff proposal.
Elon Musk has sold social media site X to his own xAI artificial intelligence company in a $33 billion all-stock deal.
Bengaluru's coffee production outlook, global prices, and the importance of value addition in the industry discussed by Coffee Board officials.
Indian companies in talks with U.S. for long-term LNG deals, considering scrapping import tax to boost purchases.
RBI allows banks to increase ATM cash withdrawal charges to ₹23 per transaction from May 1, 2025.
February saw a slowdown in production growth across key sectors, impacting overall industrial growth in the fiscal year.