Listen Up, Innovators! Startup Karnataka Organises Idea2PoC_ ELEVATE 2022

Listen Up, Innovators! Startup Karnataka Organises Idea2PoC/ ELEVATE 2022

Fundings From The State

Our economy never falls short of exceptional talent and creative innovations. What usually results as a drawback is the lack of support and resources to back these innovative ideas. The Indian Government of India is therefore quite thoughtful when it comes to supporting small businesses and innovative startups. There are several ways through which the government extends a helping hand to such innovative startups. Idea2PoC/ Elevate 2022 is one such funding program.

What is the Idea2PoC/ Elevate 2022 Program?

This funding program aims at recognizing innovative startups in Karnataka. These Karnataka startups will receive Government support to elevate their business under Idea2PoC/Elevate 2022. This would help them in the growth and development of their products and solutions. 

The Karnataka Government has already catalysed the innovation and entrepreneurship drive in Karnataka through various measures of Karnataka startup funding facilities and policies. The Department of Electronics, IT, BT, and S&T of the Government of Karnataka launched the Elevate- Idea2PoC scheme with a vision to recognize and aid budding innovative startups. It is a one-time grant of up to Rs. 50 Lakhs provided as early-stage funding. It helps innovative startups to develop their prototype and work on market development etc. 

Aims Of Mission Startup Karnataka - Idea2PoC/ Elevate 2022

Aims Of Mission Startup Karnataka - Idea2PoC_ Elevate 2022

The Elevate – Idea2PoC scheme of Mission Startup Karnataka is an initiative that has been launched to fulfill the following aims :

  • The startups Karnataka should have a comprehensive entrepreneurship platform
  • Mentoring made accessible
  • Opportunities to grow their network
  • Provide Funds
  • Idea Validation
  • Incubation assistance
  • Detailed sessions on accounting, legal, and emerging tech

The Evaluation Process in Startup Karnataka

The evaluation process for the challenge is planned in a very detailed and extensive manner. The Government here is the facilitator who connects the industry experts to the budding entrepreneurs. A simple timeline of the process looks like this – pitching innovative startup ideas followed by shortlisting pitches selected for the Karnataka Government Startup Funding aid for Startup Karnataka.  

There is a detailed process of evaluation which is divided into 4 stages. The main objective of this rigorous process is to search for the most deserving winner. At each stage, each startup will be evaluated for various parameters on a total of 100 marks by the Jury. The Additional Chief Secretary, Department of Electronics, IT, BT and S&T, Government of Karnataka, is the chairman of the Idea2PoC Evaluation Committee. Along with that other industry representatives from IITB, ABLE, NASSCOM, STPI, IESA, and ABAI are on board as the Committee.

Eligibility to apply for Startup Karnataka

Let’s dive into the details of eligibility criteria for Elevate Kalyana Karnataka – 2022, AMRITA – 2022 and ELEVATE UNNATI – 2022.

Elevate Kalyana Karnataka – 2022 Eligibility

  • Only startups from Bidar, Kalaburagi, Raichur, Yadgir, Ballari, Vijayanagara, and Koppal districts can apply to Elevate Kalyana Karnataka 2022.
  • An entity registered/incorporated in Karnataka or is registered as a partnership firm or a limited liability partnership as per the respective Acts.
  • The Total revenue generated (as turnover) since the date of incorporation should not be more than INR 100 crore.
  • Should not be older than 10 years from the date of incorporation or registration.
  • One of the Directors/Partners must be from Kalyan Karnataka and should hold a minimum of 51% share in the company.
  • Should possess HK/KK/371(J) Certificate if the startup belongs to Kalyan Karnataka. Must be incorporated in Karnataka.
  • The Director/Partner who belongs to the Kalyan Karnataka must be a part of the startup business for a minimum of 3 years from the day they start receiving the benefits from the Department.
  • Terms and conditions of ownership should be intact and must not be modified to his or her advantage throughout the project course.

AMRITA - 2022 (OBC) Eligibility for Startup Karnataka

  • An entity registered/incorporated in Karnataka or is registered as a partnership firm or a limited liability partnership as per the respective Acts.
    The Total revenue generated (as turnover) since the date of incorporation should not be more than INR 100 crore.
  • Should not be older than 10 years from the date of incorporation or registration.
    Startups/Entity on the lines of innovation, development, or products/process/service improvement or is it a scalable business model and has a good potential for employment generation and wealth creation.
  • One of the Directors/ Partners must be from the OBC community and has a 51% share in the business.
  • The Director/Partner who belongs to the OBC community must be a part of the startup business for a minimum of 3 years from the day they start receiving the benefits from the Department.
  • These Directors/Partners must have a valid digital caste certificate issued by the Revenue Department of the Government of Karnataka along with a valid RD number.
    Terms and conditions of ownership should be intact and must not be modified to his or her advantage throughout the project course.

ELEVATE UNNATI - 2022 Eligibility

  • An entity registered/incorporated in Karnataka or is registered as a partnership firm or a limited liability partnership as per the respective Acts.
    The Total revenue generated (as turnover) since the date of incorporation should not be more than INR 100 crore.
  • Should not be older than 10 years from the date of incorporation or registration.
    Startups/Entity on the lines of innovation, development, or products/process/service improvement or is it a scalable business model and has a good potential for employment generation and wealth creation.
  • One of the Directors/ Partners must be from the OBC community and has a 51% share in the business.
  • The Director/Partner who belongs to the OBC community must be a part of the startup business for a minimum of 3 years from the day they start receiving the benefits from the Department.
  • These Directors/Partners must have a valid digital caste certificate issued by the Revenue Department of the Government of Karnataka along with a valid RD number.
    Terms and conditions of ownership should be intact and must not be modified to his or her advantage throughout the project course.

How To Go About Startup Karnataka Registration Process?

The startup companies in Karnataka and the budding entrepreneurs with their innovative startup business ventures must register for the idea2PoC/ Elevate Program organized by the Startup Karnataka (Government of Karnataka) to avail of the assistance provided by the government. It is an excellent opportunity for all innovative startups to gain initial momentum for their growth and development.

Egniol Services assists SMEs, startups, entrepreneurs, etc in the process of applying for such Government Grants and Funds. Contact Egniol Services to begin the process of Startup Karnataka Registration for your business today. Call the experts at Egniol to know more about the Karnataka Startup Mission and its details.  

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