Karnataka Elevate 100: Boosting Early-Stage Startups to Next Level

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, this program provides a platform for early-stage entrepreneurs to scale their ideas into impactful business solutions through funding and mentorship.

What is this scheme?

Elevate 100 is an idea-to-concept grant-in-aid scheme that identifies the top 100 startups in Karnataka across various sectors. The program aims to provide a comprehensive support ecosystem including seed funding, legal advice, mentoring, and networking opportunities with venture capitalists. It is specifically designed to alleviate the financial hurdles faced by startups during their initial product development phase.

Who is eligible?

• The startup must be registered and headquartered in Karnataka.
• The entity must have been incorporated for less than 10 years.
• The startup must be working towards innovation, development, or improvement of products, processes, or services.
• Total turnover of the startup since incorporation should not exceed INR 100 Crore.
• The founders must hold at least 51% shareholding in the startup.
• The startup must be registered with the Startup Karnataka portal.

How much money?

The scheme provides a grant-in-aid of up to INR 50 Lakhs per startup, released in tranches based on the achievement of specific milestones.

Documents needed

1. Certificate of Incorporation (issued by MCA).
2. Startup Karnataka Registration Certificate.
3. Detailed Project Report (DPR).
4. Pitch Deck explaining the business model and innovation.
5. Audited financial statements (if applicable).
6. ID proof and address proof of all founders.
7. Shareholding pattern documents.

How to apply (step by step)

1. Register your startup on the official Startup Karnataka portal.
2. Visit the Elevate 100 application page when calls for proposals are open.
3. Fill out the comprehensive online application form detailing your concept and team.
4. Submit your pitch deck and required documentation during the application window.
5. Participate in the multi-stage screening process, including regional pitch sessions.
6. Shortlisted startups present their ideas to an expert jury for final selection.
7. Final winners undergo a due diligence process before the grant is sanctioned.

Important dates

Conclusion

Karnataka Elevate 100 remains one of the most prestigious startup competitions in India, offering more than just funds—it offers a seal of credibility. For early-stage founders in Karnataka looking to solve complex problems through innovation, this program is the perfect springboard to transition from a prototype to a market-ready product.