Karnataka Elevate 100 Program: Launching High-Growth Start-ups

The Karnataka Elevate 100 program is a premier initiative by the Department of Electronics, IT, BT and S&T, Government of Karnataka. Designed as a comprehensive idea-to-market support system, it aims to identify the 100 most innovative start-ups in the state and provide them with the necessary funding, mentorship, and platform to scale their solutions globally.

What is this scheme?

Elevate 100 is a multi-stage selection process that identifies top-tier innovative start-ups across various sectors including IT, Agriculture, Clean-tech, and Biotech. Unlike traditional loans, this program provides a grant-in-aid to help early-stage ventures overcome the 'valley of death' in product development. It focuses on empowering entrepreneurs from diverse backgrounds, including specific quotas for women entrepreneurs and marginalized communities.

Who is eligible?

• The start-up must be registered and headquartered in Karnataka.
• The entity must be a private limited company or a registered partnership/LLP.
• The start-up should have been incorporated for less than 10 years.
• The annual turnover should not exceed the limit specified under the Start-up India definition (typically INR 100 crore).
• At least 51% shareholding must be held by the founders/promoters, not by another corporate entity.
• The product or service must demonstrate innovation and scalability.

How much money?

Selected start-ups can receive a grant-in-aid of up to INR 50 Lakhs based on their project requirements and milestone achievements.

Documents needed

1. Certificate of Incorporation or Registration
2. Company PAN Card
3. Detailed Project Report (DPR) or Pitch Deck
4. Proof of Karnataka-based operations (GST/Rent Agreement)
5. Founder’s ID and Address proofs
6. Shareholding pattern document
7. Caste Certificate (if applying under special categories)
8. Audited Financial Statements (if applicable)

How to apply (step by step)

1. Register on the official Karnataka Start-up portal.
2. Submit the online application form for the Elevate 100 call for applications.
3. Participate in the multi-city roadshows or preliminary screening rounds.
4. Shortlisted candidates present their pitch before an expert jury panel.
5. Undergo a final evaluation by the Idea2POC (Proof of Concept) committee.
6. If selected, sign the grant agreement and submit milestone-based project plans.
7. Receive fund disbursement upon verification of milestones.

Important dates

Conclusion

The Karnataka Elevate 100 program remains one of the most successful state-led incubator models in India. By providing non-dilutive funding and expert guidance, it bridges the gap between a brilliant idea and a market-ready product, cementing Karnataka's position as the start-up capital of India.