K'taka launches Elevate and KAN to support startups

NT Correspondent

Bengaluru

The Department of Electronics, IT, and Biotechnology, Government of Karnataka, has introduced two flagship start-up initiatives: ELEVATE 2024 and the KarTrailnataka Accelerator Network (KAN). These programs aim to empower start-ups at different growth stages across the state, especially beyond Bengaluru.
ELEVATE 2024, a grant-in-aid seed fund, is geared towards early-stage start-ups, providing grants up to Rs 50 lakh, along with mentorship, incubation support and access to venture capital networks.

The program is aligned with the Karnataka Startup Policy 2022-27, offering additional benefits like Patent, Marketing, GST, and Quality Certification cost reimbursements. Start-ups focused on emerging technologies—DeepTech, AI, ML, Robotics, Blockchain, 5G, IoT, SpaceTech and Cybersecurity—are encouraged to apply.

KAN, on the other hand, is a growth accelerator network offering mentorship, market access, and funding opportunities for more established start-ups. The network aims to reach six cohorts over three years, supporting around 302 start-ups. The Bengaluru-based accelerators DERBI, GINSERV, and Jain Launchpad are involved as mentors, while SJCE-STEP from Mysuru, SHINE Foundation from Mangaluru, and UAS from Dharwad participate as incubator mentees. KDEM will partner with KITS, the Department of Electronics, IT, BT and S&T, to implement KAN. Minister Priyank Kharge, who announced the programmes, emphasised Karnataka’s strong role in the Indian startup ecosystem, with Bengaluru alone housing 45 of India’s 112 unicorns, valued collectively at $161 billion. “With ELEVATE and KAN, we aim to break into the top three global startup ecosystems, tackle funding challenges, and solidify Karnataka’s reputation as a premier hub for innovation,” Kharge stated.