To encourage women entrepreneurs in the tech sector, Karnataka will provide them grants under the WEscalate (Elevate Women Entrepreneurship) programme.
The department of electronics, IT, and biotechnology recently called for applications from women entrepreneurs in segments such as biotechnology, agritech and healthtech.
“The programme includes a dual approach of incubation and acceleration, along with funding for selected projects. Each cohort will be sector-specific, focusing on biotech, agritech, medtech/healthtech and cleantech,” the information technology and biotech department said in a statement.
After completing the incubation programme, the participants will be eligible for funding under the acceleration programme. The department plans to implement two cohorts every year with support from incubators and accelerators, the statement said.
Also read: Karnataka: 817 startups enroll for Elevate 2023 scheme; 100 firms to get Rs 20 cr govt aid
Speaking at the Moneycontrol Startup Conclave last week, the state’s IT-BT minister Priyank Kharge said, "We have close to 1,100 active women-led startups, which have collectively raised nearly $9.8 billion. And these startups are not just limited to Bengaluru; we have expanded beyond Bengaluru.”
Also read: Quitting your job to pursue entrepreneurship? Karnataka to offer Rs 25K a month, says Priyank Kharge
Under the Elevate programme, the government also provides grants of up to Rs 50 lakh for any startup. It is a grant, not a loan and doesn't require repayment, the minister said.
So far, the government has disbursed over Rs 225 crore in grants, funding nearly 983 startups, of which 32 percent are from tier two and three towns, and 24 percent are women-led. “This is something no other government has replicated,” Kharge said.
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