Karnataka Launches Major Programs to Boost Startup Ecosystem

Karnataka has launched 'ELEVATE 2024' and 'KAN' to empower startups. ELEVATE is a seed funding scheme offering grants and support, while KAN accelerates growth and extends mentorship. These initiatives aim to enhance Karnataka's startup ecosystem and bolster its reputation as an innovation hub.

Karnataka Information Technology Minister Priyank Kharge has unveiled two ambitious programs, ELEVATE 2024 and the Karnataka Acceleration Network (KAN), targeting the empowerment of startups to overcome funding hurdles and expand.

Officials describe ELEVATE 2024 as a seed funding scheme providing up to Rs 50 lakh per startup, alongside mentorship, incubation, and venture capital access. Meanwhile, KAN offers mentorship and funding for growth beyond Bengaluru.

Kharge highlighted Karnataka's leadership in nurturing startups, noting the state's plans to break into global top three rankings in innovation. The initiative aims to leverage the state's vibrant startup culture.

(With inputs from agencies.)