Karnataka Elevate 100: Transforming Early-Stage Start-ups into Success Stories

The Karnataka Elevate 100 program is a flagship initiative by the Department of IT, BT, and S&T, Government of Karnataka. Designed to identify and nurture the most innovative ideas in the state, this program provides early-stage start-ups with the necessary funding, mentorship, and ecosystem support to scale their operations. It aims to foster an environment of entrepreneurship and technological advancement across various sectors.

What is this scheme?

Elevate 100 is an idea-to-concept grant-in-aid scheme that selects 100 of the most promising multi-sector start-ups based on their innovation and potential for social impact. Unlike traditional loans, this initiative provides equity-free grants to help entrepreneurs bridge the gap between a prototype and a market-ready product. The program includes specialized tracks for women entrepreneurs, rural innovators, and SC/ST founders to ensure inclusive growth.

Who is eligible?

• Start-up must be incorporated in Karnataka for less than 10 years.
• The entity must be a private limited company or a registered partnership firm/LLP.
• Must have a valid Karnataka GST registration.
• The start-up should not have a total turnover exceeding INR 100 crore in any previous financial year.
• Must possess an innovative product or service with a high potential for scalability.
• At least 50% of the workforce must be employed in Karnataka (excluding founders).

How much money?

The grant amount varies depending on the specific requirements of the start-up and the jury's evaluation. As per latest notification, verify on official portal for current funding caps per start-up.

Documents needed

1. Certificate of Incorporation or Registration.
2. Official pitch deck exploring the innovation and business model.
3. Proof of Karnataka domicile for founders (if applicable).
4. GST Registration Certificate.
5. Aadhaar card of directors/partners.
6. Audited financial statements (if available) or Bank Statements.
7. Detailed Project Report (DPR) on fund utilization.

How to apply (step by step)

1. Visit the officially designated Karnataka Start-up portal.
2. Register your start-up and create a profile with all mandatory details.
3. Submit the online application form for the Elevate program during the open call for entries.
4. Upload the required documents and your innovative pitch deck.
5. Undergo shortlisting based on initial screening by a technical committee.
6. Present the idea/prototype to a grand jury during the pitch sessions.
7. Await the final announcement of the top 100 selected start-ups for the grant-in-aid award.

Important dates

Conclusion

The Karnataka Elevate 100 program is a game-changer for early-stage entrepreneurs in India's tech hub. By providing critical non-dilutive funding and access to a robust network of mentors, the state government is ensuring that innovative ideas do not perish for lack of capital. If you have a disruptive idea that can drive impact, Elevate 100 is your gateway to growth.