Karnataka Minister Priyank Kharge unveils 2 flagship startup programs

PTI, Oct 29, 2024, 1:07 PM IST

Bengaluru: Karnataka Information Technology Minister Priyank Kharge on Tuesday launched two flagship startup programs ‘ELEVATE 2024’ and KAN (Karnataka Acceleration Network).

According to officials, ELEVATE 2024 is a grant-in-aid seed funding scheme designed to empower early-stage startups in the state.

KAN is an acceleration network that provides mentorship, market access, and funding opportunities for growth startups across the state, with a focus on regions beyond Bengaluru.

At the launch, Kharge emphasised the state’s commitment to innovation and entrepreneurship.

Karnataka has long been a leader in fostering a vibrant startup ecosystem, and both ELEVATE and KAN are specifically crafted to provide a structured pathway for growth, the Minister said.

“Bengaluru is home to 45 unicorns out of the 112 in the country, with a total valuation of USD 161 billion. Our goal is to break into the top three rankings in the world. We are confident that ELEVATE and KAN together will empower startups to tackle funding challenges, scale their operations, and solidify Karnataka’s reputation as a leading hub for innovation and entrepreneurship,” he said.

The Minister also unveiled the event app for the Bengaluru Tech Summit 2024, to be held next month.

The app, which is designed to offer registered delegates, exhibitors, and speakers an immersive and streamlined experience throughout the summit, is available for download on both Android and iOS platforms, officials said.