Bengaluru, known as India’s startup city, has got a shot in the arm with the government recognising the new-age entrepreneurs in the city as well as the state with the launch of the Startup Karnataka Top Tech Awards.
This is a move to recognise promising startups from Karnataka, including those from tier two and tier three cities.
“This is the first time the government has come up with such a category of awards. We want to encourage 20,000 startups in the next two years with at least 6,000 of them in product-related ones. Our effort is to fund up to Rs 50 lakh per startup registered with KBITS without asking for any equity. We all know that 90 percent of startups fail because of lack of mentorship, facilities, funds, or for a combination of all of these. By funding and providing support, we hope to make more of them successful,” said IT, BT and Tourism Minister Priyank Kharge while announcing the awards.
In fact, in less than three months after he took over, the number of startups registered with KBITS rose from just 27 to 2,019.
Apart from the tourism ministry which set aside Rs 2.5 crore for funding startups (it distributed Rs 1.95 crore to eight companies after a hackathon), the department of agriculture has come forward with a Rs 10.5 crore special fund and is looking for startups in the agri sector which can make a social impact.
For these 25 awards, the government received more than 100 nominations from across Karnataka and it was open to all and not limited to startups registered with the government. The jury, comprising different industry verticals and Deloitte India, arrived at the winners who were honoured on the final day of BengaluruITE.biz 2016.
These awards are being given in five categories — IT/ITES; ESDM (Electronic System Design and Manufacturing); AVGC (Animation, Visual Effects, Games and Comics); Biotechnology, Pharma and Life Sciences; and Social Inclusions.
Category: AVGC (Animation, Visual Effects, Games and Comics)
Category: ESDM (Electronic System Design and Manufacturing)
Category: Social Inclusions