Karnataka’s ELEVATE programme provides grant to over 1,000 startups: Priyank Kharge

ELEVATE is a grant-in-aid seed funding scheme designed to support early-stage startups in Karnataka.

The Karnataka government has conducted 21 rounds of the ELEVATE programme and disbursed Rs 249 crore in seed funding to 1,084 startups, so far,  state's information technology and biotechnology minister Priyank Kharge has said.

ELEVATE is a grant-in-aid seed-funding scheme designed to support early-stage startups in Karnataka.

Under ELEVATE 2024, 101 startups have been awarded and disbursed grants amounting to Rs 25 crore. Of these, 42 are women-led and 36 are from beyond Bengaluru. The grants range from Rs 21 lakh to Rs 50 lakh. These companies span multiple sectors, including sustainability, biotechnology, aerospace, and rural innovation.

"ELEVATE programme was once doubted but it has now funded more than 1,000 startups, with 25 percent led by women and 30 percent from rural areas," Kharge said at on March 26 at an event to disburse funds. The government was committed to reducing regulatory friction, expanding funding avenues, and ensuring global market access, he said.

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The winners include Microleer Biopolymers, which produces vegan leather, Iniya Bioprobes, a Mysuru-based biotech firm developing microbial pigments, Okulu Aerospace, which offers UAV monitoring solutions, and Baeru, an ocean waste recovery startup empowering rural women.

The department officials said the application and evaluation process for ELEVATE 2024 was completed in 90 days. Winning startups have been mapped to K-Tech Hubs and Centers of Excellence for mentorship and incubation.

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“Bengaluru, home to 45 unicorns with a combined valuation of $161 billion, is at the forefront of the global startup revolution. The government aims to position Karnataka among the top three global startup ecosystems through initiatives like ELEVATE,” Kharge said.

Around 300 participants, including startup founders and industry stakeholders, attended the event. The AVGC (Animation, Visual Effects, Gaming, and Comics) sector was a key focus this year, with Pocket Coach Technologies and Zebu Films among the top-funded startups.

Kharge reiterated the government’s commitment to fostering an inclusive startup ecosystem. "With strong support, Karnataka will continue to thrive as India’s premier innovation hub, driving the nation’s global startup agenda," he said.

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