BENGALURU: The startup cell of the Department of Information Technology and Biotechnology, Government of Karnataka has received over 500 applications from all over the state for its Elevate 2019 programme, of which, over 400 are city-based. Elevate is a programme through which innovative startups are identified by the Idea2PoC (proof of concept) scheme under the Karnataka Startup Policy 2015-2020, to provide early-stage funding to ideas yet to be established.
“Selected startups will have access to a grant-in-aid of up to `50 lakh. They will get access to incubation spaces at a subsidised rate, mentorship and chances to network with angel investors. A select few will also get to deploy their idea as a pilot, along with the government, if the ideas pertain to social inclusion.
The government will also fund 60 per cent of their exposure trips abroad,” said Gaurav Gupta, principal secretary of the department. He added that applicants will go through a jury of experts selected by the National Association of Software and Services Companies, Association of Biotechnology Led Enterprises, India Electronics & Semiconductor Association, The Indus Entrepreneurs, etc,” Last year, 77 startups were funded. Ideas span across agricultural technology, IT, biotech, etc. Selections through multi-city pitching will take place between May 15 and 24 across Bengaluru, Mysuru, Hubballi, Belagavi, Mangaluru and Kalaburagi. The finale will tentatively take place between June 3 and 4.
“At the incubation centres, the winners will get access to seminars and workshops by successful entrepreneurs. They will also have access to idea validation from experts,” Gupta added.
Some of the startup ideas that came in last time include IoT (Internet of Things) based farming, using drones for mapping plants and trees, last-mile connectivity for Metro and buses, etc. Since 2016, 264 startups have been funded by the department’s startup cell.