Karnataka Elevate 100: Funding and Support for Early-Stage Startups

The Karnataka Elevate 100 program is a flagship initiative by the Department of Electronics, IT, BT, and S&T, Government of Karnataka. Designed to identify and nurture the most innovative startups in the state, it provides a comprehensive platform for funding, mentorship, and incubation. As a first-of-its-kind initiative in India, it aims to empower early-stage entrepreneurs to scale their ideas into commercially viable products, ensuring Karnataka remains a global innovation hub.

What is this scheme?

Elevate 100 is a dedicated startup pitch competition and grant-in-aid scheme that selects 100 promising startups for specialized support. Beyond financial assistance, the program offers access to government mentors, networking opportunities with venture capitalists, and subsidised access to world-class incubation centers. It specifically targets high-impact sectors including FinTech, AgriTech, MedTech, CleanTech, and Aerospace, often reserving special categories for women entrepreneurs and startups from Tier-2 and Tier-3 cities.

Who is eligible?

• The startup must be registered with the Karnataka Startup Cell.
• The entity must be a private limited company or a registered partnership firm.
• The startup should have been incorporated for less than 10 years.
• At least 50% of the company's workforce must be based in Karnataka.
• The founders must hold a majority stake in the company.
• The startup must be working towards innovation, development, or improvement of products or processes.

How much money?

Selected startups are eligible for a grant-in-aid of up to ₹50 Lakhs, disbursed in milestones as per latest notification, verify on official portal.

Documents needed

1. Certificate of Incorporation or Partnership Deed
2. Startup Karnataka Registration Certificate
3. Company PAN Card
4. GST Registration Certificate
5. Address proof of the registered office in Karnataka
6. Detailed Project Report (DPR) or Business Pitch Deck
7. Bank account details of the entity

How to apply (step by step)

1. Register the startup on the official Startup Karnataka portal.
2. Wait for the official Elevate 100 call for applications.
3. Submit the online application form with the required business details and pitch deck.
4. Shortlisted startups undergo multi-level screening by an expert panel.
5. Finalists present their business model in a final pitch session to the grand jury.
6. Selected winners undergo a due diligence process before fund disbursement.

Important dates

Conclusion

The Elevate 100 program is a game-changer for early-stage startups in Karnataka, bridging the gap between an idea and a market-ready product. By providing a mix of financial grants and institutional support, the Government of Karnataka is fostering an ecosystem where innovation thrives. If you are a founder with a unique solution to a real-world problem, Elevate 100 offers the perfect launchpad to scale your business to new heights.