Karnataka Elevate 100 Scheme: Grant-in-Aid 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, mentoring, and scaling. As part of the 'Startup Karnataka' ecosystem, this scheme aims to transform high-potential ideas into commercially viable products through state-sponsored support.

What is this scheme?

Elevate 100 is a competitive grant-in-aid program that selects 100 promising early-stage startups from across Karnataka. Unlike traditional loans, this scheme provides non-equity funding to help startups cross the 'valley of death' in their initial product development phases. The program places a special emphasis on diverse sectors including Healthcare, FinTech, AgriTech, CleanTech, and Aerospace, while offering dedicated support 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 incorporated as a Private Limited Company or LLP for less than 10 years.
• The headquarters of the startup must be located in Karnataka.
• At least 51% shareholding must be held by Indian promoters (not including VCs or institutional investors).
• The startup must have an innovative product or service that addresses a clear market gap.
• The annual turnover must not exceed ₹100 Crore in any financial year since incorporation.

How much money?

Selected startups are eligible for a grant-in-aid of up to ₹50 Lakhs, released in stages based on milestone achievements. As per latest notification, verify on official portal for current fiscal year sub-limits.

Documents needed

1. Certificate of Incorporation (issued by MCA)
2. Karnataka Startup Cell Registration Certificate
3. Proof of Registered Office in Karnataka (Rental agreement/Utility bill)
4. Founders' ID and Address Proof
5. Company PAN Card
6. Audited Financial Statements (if startup is older than 1 year)
7. Pitch Deck explaining the innovation and fund utilization plan

How to apply (step by step)

1. Register your startup on the official Startup Karnataka portal.
2. Submit the online application for the Elevate 100 call for applications when active.
3. The first level of screening involves a multi-city pitch session across Karnataka.
4. Shortlisted startups proceed to the final pitch before a Grand Jury consisting of industry experts and government officials.
5. Winners undergo an Idea Validation and Due Diligence process.
6. Upon successful verification, a Grant Agreement is signed and funds are disbursed in tranches.

Important dates

Conclusion

The Karnataka Elevate 100 program remains one of the most prestigious startup challenges in India, offering more than just capital. It provides winners with access to government mentors, networking opportunities with VCs, and subsidized access to tech tools. For founders in Karnataka looking to bridge the gap between a prototype and a market-ready product, Elevate 100 is a pivotal opportunity.