Deadline: 23 December 2023
Applications are now open for the Idea2PoC/ELEVATE Program.
A Government of Karnataka initiative intended to bolster the voyage of Startups with a cushion of funding – ELEVATE 2023 Call 2.
Types of Challenges
- Elevate 2023 Call 2 – Challenge
- ELEVATE is intended to identify top innovative startups in Karnataka, who would be given Government support to scale up their product or solution so that they can elevate to the next level.
- Elevate Unnati 2023 – Challenge
- Department of Electronics, IT, Bt and S&T, Government of Karnataka launched Elevate Unnati 2023 which has separate funds earmarked under SCSP/TSP Funds.
- ELEVATE Unnati 2023 was intended to identify most innovative startups having Director(s)/ Partner(s) belong to the SC/ST community in Karnataka, who would be given support to scale up their product or solution so that they can elevate to the next level.
Rewards
- Grant in Aid upto INR 50 Lakhs
- Incubation support
- Mentoring by experts
- Booster Kit
- Incentives
- VC connects
Eligibility Criteria
- ELEVATE 2023 Call 2 and ELEVATE Unnati 2023
- Should be an entity (Pvt. Ltd/OPC/LLP/Partnership Firms) Registered or Incorporated in Karnataka. (private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008)
- Total revenue generated in terms of turnover from the date of incorporation should be less than INR 100 Crore
- Startups should not have crossed 10 years from the DATE of INCORPORATION/ REGISTRATION Certificate as of 31st March 2023
- Startups/Entity working towards innovation, development, or improvement of products or processes, or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
- ELEVATE 2023 Call 2
- Grassroots innovation or innovations with rural impact can be defined as innovation of a product, process or a service developed by Startups which are focussed at solving problems in rural areas and are capable of improving the socio-economic life/ease of living/standard of living of the rural community. Startups who are eligible under the above definition will also be selected.
- ELEVATE Unnati 2023 (A Unique Call Open for Startups by SC/ST Entrepreneurs)
- At least one of the Director(s)/Partner(s) should belong to the SC/ST community and should hold a minimum of 70% SHARE in the company/firm.
- Such SC/ ST Director(s)/ Partner(s) should possess a valid digital caste certificate issued by the Revenue Department, Govt. of Karnataka with a valid RD NUMBER.
- Such SC/ST Director(s)/Partner(s) should continue to be a part of the business for the entire duration of the project.
- Terms and conditions of ownership should not be altered to his/er disadvantage during the course of the project.
Selection Process
- Selection process is done with the help of NASSCOM (10,000 Startups), TiE-Bangalore (The Indus Entrepreneurs), Deshpande Foundation, IESA (India Electronics and Semiconductor Association), ABLE (Association of Biotech Led Enterprises), ABAI (Association of Bangalore Animation Industry), Mobile10X etc.
- Pitch an innovative startup idea, top pitches will be selected for Government aided support to scale up their product or solution to the next level.
For more information, visit Government of Karnataka.
