12 startups get special grants from IT-BT dept
By Express News Service | Published: 29th June 2017 09:17 AM |
BENGALURU: To promote and support young minds, the IT-BT Department has announced grants worth Rs 3.18 crore to 12 startups in the state.
These 12 startups are specialised in a wide range of specialities, skills, and industries, such as agriculture, biotechnology, security, communications, robotics and the like. They have been selected carefully on the grounds of the application of the technology, practicality, feasibility and innovation.
The startups are part of the Idea2PoC (proof of concept), a scheme being implemented by the Karnataka Startup Cell, Department of IT, with each company receiving an initial funding of Rs 50 lakh each.
The Idea2PoC is a part of India’s first multi-sector startup policy launched by the state government in 2015. It aims to encourage and discover brilliant innovators in the state who need early stage funding to help in commercialising their innovation and research. Further, funding will be released in tranches against the achievement of project milestones with timelines.Priyank Kharge, IT&BT Minister, said, “The state is filled with young and talented people. These 12 startups were chosen because they have the potential to make a difference.”
Gaurav Gupta, Principal Secretary to Government, Department of IT, BT and Science and Technology, said, “Bengaluru is the IT hub of the country, however, we now see that start-ups in the field of agriculture, biotechnology, security, communications, robotics, gaming and the like are springing up rapidly. This holistic support system to develop and launch their creative ideas will in turn enhance the potential of the state.” The state is targeting start-ups in new and emerging technologies such as animation, artificial intelligence, big data and virtual reality.