Startup Karnataka

ಕ

Screen Recorder ×

About Us

Grienvances

Policies & Schemes

Other Pages

Idea2PoC / ELEVATE Program - ELEVATE 2024

The Idea2PoC/ELEVATE program is a Government of Karnataka initiative designed to support and fund innovative startups in Karnataka, helping them validate proof of concept and scale their solutions to the next level.

Elevate 2024 – Challenge

ELEVATE was intended to identify top innovative startups in Karnataka, who would be given Government support to scale up their product or solution so that they can elevate to the next level.

(Note: All the uploading documents FileName should have only 1 extension max. Multiple dots in file name will be rejected due to security reasons)

Selection Process

The selection process for startups involves four stages of evaluation after submitting the online
application form via the Startup Karnataka Portal (www.missionstartupkarnataka.org):
Stage 1: Data sufficiency/eligibility check
Stage 2: Offline screening of pitch decks by jury members and shortlisting
Stage 3: Multi-city pitching by shortlisted startups before jury members
Stage 4: Grand Finale – Final round of in-person pitching before grand jury members

Nomination of Jury Members are taken from key industry associations such as NASSCOM, TiE
(The Indus Entrepreneurs), IESA (India Electronics and Semiconductor Association), ABLE
(Association of Biotech Led Enterprises), ABAI (Association of Bangalore Animation Industry)
and others.

Rewards:

ELEVATE 2024: Eligibility Criteria

1. The entity must be a Pvt. Ltd/OPC Pvt. Ltd/LLP/Partnership firm registered or incorporated in Karnataka.

2. Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded INR 100 Crores.

3. The age of the startup must not have exceeded 10 years from the date of incorporation/registration as on the last date of online application submission.

4. The startup should be working towards innovation, development, or improvement of products, processes, or services, or have a scalable business model with high potential

5. If the startup is promoted by entrepreneur belonging to OBC/Minority community, then at least one of the Director(s)/ Partner(s) should hold a minimum of 51% Share in the company/ firm.

6. If the startup is promoted by entrepreneur belonging to SC/ ST community, then at least one of the Director(s)/ Partner(s) should hold a minimum of 70% Share in the company/ firm.

7. Such OBC/Minority/SC/ ST Director(s)/ Partner(s) should possess a valid digital caste certificate issued by the Revenue Department, Govt. of Karnataka with a valid RD NUMBER.

8. Director(s)/ Partner(s) should continue to be a part of the business for the entire duration of the project.

9. Terms and conditions of ownership should NOT be altered to his/her disadvantage during the course of the project.

10. Establish a No-Lien bank account for the transfer of grant amount in the event of selection.

General Terms and Conditions :

1. Startups must sign up and log in to the Startup Karnataka Portal to apply www.missionstartupkarnataka.org.

2. Documents not accepted as valid registration certificates: MSME, Udyog Aadhaar, GST, Trade Union, KMF, VAT certificates, or registration with shops and establishments.

3. The startup must not be:
-> A subsidiary, franchise, white-labeled reseller, or part of a group company.
-> A section 8 company, trust, association, society, or a non-profit entity.
-> A result of a merger/demerger from a larger organization.
-> Part of any government initiative, aided partner, or public-private partnership.

4. Startups/Founders a who have previously won Idea2PoC/ELEVATE Grant Schemes or Grand Challenges are not eligible.

5. One application per startup/entity: Only one application per startup or entity will be accepted. If multiple applications are submitted by the same entity, only the first application will be reviewed and considered, while subsequent applications shall be summarily rejected.

6. Applications that do not meet eligibility criteria or lack supporting documents will be disqualified at any stage, resulting in the cancellation of their application or grant.

Note: No changes can be made once the online application is submitted.

Mandatory documents :

(Please ensure that the following documents are ready as per the format and file size mentioned)

✓ Incorporation/ Registration Certificate (In PDF Format. file size to be less than 1 MB)

✓ Stakeholder’s caste certificates issued by the government in case of OBC/Minority/ SC/ST Director(s)/ Partner(s) (PDF format, file size < 1 MB).

✓ Company MoA/ Partnership Deed (In PDF Format. Each file size should be less than 1 MB

✓ Startup Affidavit signed by Promoters and notarized on INR 100 (Rupees Hundred Only) e-stamp paper (First party: Your Startup Name; Second Party: KARNATAKA INNOVATION AND TECHNOLOGY SOCIETY (PDF format, file size < 1 MB).

✓ Pitch Deck (In PDF Format. file size to be less than 5 MB)