270 Startups Are Losing Their Spot From Karnataka’s 100 Most Innovative Startups Tag

According to the recent ET report, 270 startups from across Karnataka have slugged out from the top 100 slots in Karnataka government’s startup hierarchy. For those who are unaware, a slot would mean generous government support including mentoring and funding.

Industry leaders such as Mindtree’s KK Natarajan, Bhavish Aggarwal of Ola Cabs, and TiE’s Ravi Gururaj are brainstorming with the startups to pick those 100 startups with disruptive ideas and help them turn their ideas into successful businesses.

The grand finale of India’s first comprehensive entrepreneurship platform, ELEVATE 100, that began on Tuesday morning at Hotel Lalit Ashok will continue through Wednesday. As per the reports, the final bunch of 100 startups will have access to the Rs 400 crore startup fund, apart from mentoring from industry experts, idea validation, advisory and legal support.

Commenting on the development, Priyank Kharge, IT, BT & Tourism Minister said, "The efforts of Karnataka government doesn't stop at elevating the chosen 100. We see ELEVATE 100 as a continuing process where the best ideas from the state gets the support and guidance it deserves."

He added further, "Karnataka is home to the world’s fastest growing startup ecosystem. The government is trying to nurture this ecosystem with strong policies like the IT Policy, Start-up Polget BT Millennium Policy, ESDM Policy and the KAVGC Policy, giving the ecosystem a strong foundation to help entrepreneurs and established industries to flourish.”

This is just one of the many initiatives aimed at creating the largest pool of talented entrepreneurs in Karnataka. According to Gaurav Gupta, Principal Secretary, IT, the sub segments such as AI & Robotics are already being nurtured through various Centres of Excellence.

Their target is to create 20,000 successful startups by celebrating and supporting them through continuous engagement.