Karnataka Accelerates Startup Ecosystem with ELEVATE 2024 and KAN

Karnataka IT Minister Priyank Kharge launched two major startup programs, 'ELEVATE 2024' and 'KAN,' aimed at empowering startups through funding, mentorship, and market access. With a focus beyond Bengaluru, these initiatives seek to solidify Karnataka's position as a leading innovation hub.

On Tuesday, Karnataka Information Technology Minister Priyank Kharge announced two flagship startup initiatives, 'ELEVATE 2024' and 'KAN (Karnataka Acceleration Network)'. Both programs are aimed at nurturing early-stage and growth startups by providing crucial funding, mentorship, and market access.

ELEVATE 2024 is designed as a grant-in-aid seed funding scheme, while KAN serves as an acceleration network for growth startups, particularly in regions outside Bengaluru. Highlighting Karnataka's longstanding commitment to a dynamic startup ecosystem, Minister Kharge stated that these efforts are focused on offering structured growth pathways.

Bengaluru, boasting 45 unicorns valued at USD 161 billion, aims to crack the top three global rankings. These programs, along with the event app launched for the upcoming Bengaluru Tech Summit 2024, underscore Karnataka's dedication to being a global hub for innovation and entrepreneurship.

(With inputs from agencies.)