77 start-ups win at Elevate,to get funds from state govt
BENGALURU: The Karnataka government on Tuesday announced the winners of its start-up initiative Elevate 2018. As part of the programme, 77 start-ups were selected as winners from the state and they will receive funding from the state IT, BT and S&T department. The programme is run under the Startup Karnataka initiative of the Ministry of IT-BT and S&T and is part of the start-up policy launched by the state government in November 2015.
Those selected include start-ups specialised in biotech, healthcare, agritech, fintech, logistic and clean-tech. The winners will receive a funding up to `50 lakh each from the state government. The government has earmarked `24 crore towards funding of these innovative start-ups, of which a `2 crore has been set aside for start-ups from Hyderabad- Karnataka region. For the second year running, the programme received over 600 applications from across the state.