Bengaluru Tech Summit: Karnataka to launch startup awards, hypergrowth programme for enterprise SaaS and fintech companies

Bengaluru Tech Summit

Karnataka will launch startup awards starting next year to recognise excellence in innovation, scalability, and socio-economic impact across India’s startup ecosystem.

Speaking on the final day of the three-day Bengaluru Tech Summit (BTS) 2024 held at Bengaluru Palace on November 21, Karnataka IT-BT minister Priyank Kharge said, “We will launch startup awards 2025. A rigorous evaluation process will culminate in a grand award ceremony with eminent speakers, jury members, entrepreneurs, and investors.”

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The state will also launch the hypergrowth Karnataka programme in collaboration with Startup Genome to accelerate the global success of enterprise SaaS and fintech companies. “The inaugural cohort, targeting startups with Series A funding and over $1 million in ARR, will receive commercialisation assistance, investor connections, and strategic support for international expansion,” Kharge said.

Kharge said 100 GCCs will adopt 100 colleges in the state to skill students. “We will also come up with specific cluster-based programme in Beyond Bengaluru,” he said.

Karnataka will also establish a new Centre of Excellence in AI in partnership with IIT Alumni Centre Bengaluru. The center will provide incubation space for startups, AI training, and market access. An MoU was also signed with Letsventure to enhance startup visibility, mentorship, and fundraising opportunities.

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The state government had unveiled the draft Karnataka Space Technology Policy 2024-29, which aims for a 5% share of the $44-billion global space industry, during the tech summit. “The policy, developed with extensive input from startups and established entities, outlines Karnataka’s vision to strengthen its space ecosystem, including partnerships with ISRO and academic institutions,” said Kharge.

At the summit, Karnataka also launched the Nipuna Karnataka logo, a skilling initiative. Six MoUs with global tech leaders, including Microsoft, Intel, and Accenture, were signed to upskill 1 lakh individuals in emerging IT domains. “These partnerships aim to boost the global competitiveness of local talent,” said Kharge.

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The state also unveiled India's first Global Capability Centre (GCC) policy. Other highlights of the summit included the Startup Springboard programme, Investor Connect, and the presentation of awards such as the STPI IT export awards. The summit saw participation from 5,210 delegates, including tech professionals, entrepreneurs, and government officials, and featured over 680 exhibitors, attracting more than 50,000 visitors, a statement added.

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