Bengaluru, September 06, 2017: The Karnataka Government Signs MoUs with Google, PWC, other firms to Boost Start-ups
The 2-day grand finale of ELEVATE 100, a combined initiative of the Start-up Cell, Karnataka Biotechnology and Information Technology Services (KBITS), Government of Karnataka, with Knowledge Partners, The Indus Entrepreneurs (TiE) and Deshpande Foundation , concluded yesterday with the announcement of the winners of the program at the Lalit Ashok in Bangalore. Elevate 100, is India’s first comprehensive entrepreneurship platform for start-ups.Out of the 1700 start-ups that registered, including 350 women entrepreneurs and 400 applicants from the rural areas, 111 start-ups were selected instead of 100 as initially planned, due to the overwhelming response. These start-ups were selected over a 2 month process and 4 rigorous rounds of selection, through various roadshows across Hubli, Mysore, Mangalore, Kalburgi and Bangalore. At the finale of Elevate 100 over the last 2 days, they received the opportunity to pitch to investors and also got an opportunity to showcase their innovative solutions to the world. There were also 40 demo pods for start-ups to showcase their prototypes and products, helping them to engage with investors and stakeholders and forge tie-ups. The short-listed startups will now have access to Karnataka Government’s INR 400 crore start-up fund besides access to Government VC funds, pilots, private VC funds, world class accelerators and mentors.
Recalling the grueling contest in which the best entrepreneurs of the state faced off with each other, IT, BT & Tourism Minister Priyank Kharge said: “The efforts of Karnataka government doesn’t stop at elevating the chosen 111. We see ELEVATE 100 as a continuing process where the best ideas from the state gets the support and guidance it deserves.”
The startups from various sectors include ESD -27, Life Sciences -19, BioTech 11, Agri Tech – 11, AVGC- 4, Clean Tech -4, and IT/IAS 26. Women Entrepreneurs -19, Rural -11.
During the two-day Elevate 100 conference, the Government of Karnataka signed 8 significant MoUs to cater to the needs of the identified 111 startups that is listed as follows:
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Google which will provide $3000 worth of cloud credits for startups registered with Startup Cell and $20,000 worth of startups who are winners of Elevate 100
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PWC for mentoring and consulting services for sustainable growth of startups
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Yes Bank for banking services, API Integration and customized solutions for these startups
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Kotak Bank for help set up business and registration processes and assistance in providing accounting, income tax returns, GST returns and tax audits amongest other support.
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Amazon Activate which will provide $3000 worth of cloud credits for startups registered with Startup Cell and $20,000 worth of startups who are winners of Elevate 100
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Indian Law Practices to provide legal consultancy services for the identified startups
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Digital Ocean to provide a $100 one-time credit for all startups registered with Startup Cell and a $1000 one-time credit for startups which are being funded under Karnataka Startup Cell
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Zoho which will provide the startups an unprecedent 35+ integrated applications on one account with complete administrative control and complementary mobile apps.
The Start-ups that have made it to the final 100 are across sectors that include Aerospace, AVGC, Medtech, IoT and ESDM and Agritech.
