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Karnataka sets aside Rs 35 crore for Elevate 100 winners

Anil Budur Lulla
31st Aug 2017
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History was scripted in the startup world today as for the first time Rs 35 crore funds were made available to 100 plus startup winners at Elevate 100, a Karnataka government initiative to handhold and fast-track entrepreneurship.

State IT & BT Minister Priyank Kharge (extreme right) with from left Kunal Kashyap, Executive Director, TiE Bengaluru,
Ravi Gururaj, President, TiE Bengaluru, Naganand Doraiswamy, Managing Director & Founder, Ideaspring Capital, Sunil Kumar SK, CTO, Deshpande Foundation, Salma Fahim, MD, KBITS and Gaurav Gupta, Principal Secretary, IT&BT Department.

Declaring the winners after a marathon two month effort where startups in diverse sectors across Karnataka made pitches to the jury, Karnataka IT and BT Minister Priyank Kharge said this was the first time anywhere in the world that so much money was being granted at one go to companies with great ideas.

The minister said,

Out of 1,700 applications that were received, after a gruelling three rounds, the jury consisting of industry experts selected 112 companies of the 300 that made it to the final round. But all of them are winners as we received applications from every nook and corner of the state. We received great ideas and they need to only sharpen their ideas and pitches.

Of course, not all selected companies would get the same amount. While some would be eligible for grants up to Rs 50 lakh under the idea2poc scheme, others would be able to tap into the Rs 400 crore funds available with the department under various schemes.

"There are biotech and meditech companies that have already spent some considerable time on their ideas. Such startups would get funds from designated Kitven funds where they have to part with equity and be eligible for higher amounts," Priyank clarified.

Priyank listed 27 startups in ESDM and IOT, 26 in IT and ITeS, 19 in meditech, 11 in biotech, three companies in agritech, six dealing with cleantech, and four in AVCG fields.

Among the winners were 19 startups run by women entrepreneurs and nine rural startups.

The government also inked agreements with nine companies to help these startups. Among those are Google and Amazon which came forward to give cloud credits for these selected companies, with PWC for mentoring and consulting, with Yes Bank and Kotak Mahindra Bank for banking and filing their tax credits, with Indian Law Practice for legal help and with Digital Ocean and Zoho.

Describing this selection as a very tiring but fruitful journey, Priyank said the exposure will help the government and industry to come together and lead to startups getting a better deal from the ecosystem.

The Elevate 100 winners are:

 

5W VENTURES PVT. LTD
AADYAH AEROSPACE PVT LTD
AFTERGLOW TECH(OPC) PRIVATE LIMITED
AISSEL TECHNOLOGIES PRIVATE LIMITED
AMELIORATE BIOTECH PRIVATE LIMITED
AMVICUBE
ANB FUELS
ANEKASTRA SOFTWARE TECHNOLOGIES
APTENER MECHATRONICS PRIVATE LIMITED
ARKSA RESEARCH LABS
ATRIMED BIO-TECH LLP
AUDICOR CARDIOMETRICS PVT. LTD.
BELLATRIX AEROSPACE PRIVATE LIMITED
BIGSOLV ADVANCED LABS PRIVATE LIMITED
BIODESIGN INNOVATION LABS PRIVATE LIMITED
BIO-LUTIONS ECO TECH INDIA PRIVATE LIMITED
BITGRAM TECHNOLOGIES PVT. LTD.
BRAINYBATCH TECHNOLOGIES PRIVATE LIMITED
BREATHE APPLIED SCIENCES PVT. LTD.
CALTECH INNOVATIONS PRIVATE LIMITED
CARDIAC DESIGN LABS PRIVATE LIMITED
CHIGRU INNOVATIONS OPC
CHRONOSPHERE TECHNOLOGIES PVT. LTD.
CLEAN BILL OF HEALTH PRIVATE LIMITED
COEO LABS
CYCLOPS MEDTECH PVT LTD
DATAGLEN TECHNOLOGIES PRIVATE LIMITED
DENOVO BIOLABS PVT. LTD.
DIPONED BIO PVT LTD
EFLIGHT (GHAGAN AVIATION PVT LTD)
ETHNUS TECHNOLOGIES
EVENTOSAUR
EXCELTECH
FYLE
GEEK LABS
GINGERMIND TECHNOLOGIES PVT LTD
GRAPHENE
GREEN ROBOT MACHINERY PRIVATE LIMITED
HAPPY RELIABLE SURGERIES PVT. LTD.(OPC)
HAVSTRUCK SOLUTIONS PVT LTD
HUBLIN ENTERPRISES
I-BYK
INNODI WATER TREATMENT TECHNOLOGIES PVT. LTD.
INNOV4SIGHT HEALTH AND BIOMEDICAL SYSTEMS PRIVATE LIMITED
INTELLICAR TELEMATICS PVT LTD.
IOSYNTH LABS PRIVATE LIMITED
JANKAAR INITIATIVES
JK NANOSOLUTIONS
JOUSKA TECH PRIVATE LIMITED
LAB4LIFE BIORESEARCH PVT LTD
M/S NIRNAL WATER FILTER
MAANTRIKA STUDIOS
MAGVEH ENERGY RECOVERY SYSTEMS PVT. LTD.
MELADATH AUTO COMPONENTS PRIVATE LIMITED
MENDONCA MEDICAL BIOTECH
MOTHER DIAGNOSTIC SYSTEMS PRIVATE LIMITED
MYGRAM CONNECT PRIVATE LIMITED
NATIVE PUPPETS ANIMATION STUDIO
NAYAGAADI
NEXUS 3D
NIRAMAI Health Analytix
NoPo Nanotechnologies India Private Limited
Nymble Labs
Olivewear Pvt. Ltd.
Openwater.in Pvt Ltd
Oust Labs India Pvt. Ltd.
ParkingRhino Online Services Pvt. Ltd.
PathShodh Healthcare Pvt Ltd
Personal Air Quality Systems Pvt Ltd
Perspectiv Labs Private Limited
PROJECT MUDRA (THINKERBELL LABS PVT LTD)
QUICK LOGI TECHNOLOGIES
QUNU LABS PVT. LTD.
R2 PRO PVT. LTD.
RDL TECHNOLOGIES PVT LTD
RETISENSE TECH INDIA PRIVATE LIMITED
SASCAN MEDITECH PVT LTD
SCALEND TECHNOLOGIES
SCAPIC
SCINTILLA BIO-MARC PVT. LTD.
SIAMAF HEALTHCARE PRIVATE LIMITED
SKYKRAFTS AEROSPACE PVT LTD
SNAPTRUDE TECHNOLOGIES PRIVATE LIMITED
SPOOKFISH INNOVATIONS PRIVATE LIMITED
STR8BAT SPORT TECH SOLUTIONS PVT LTD
STRING BIO PVT LTD
SYMBOSIM SIMULATIONS PVT. LTD
TACTILE EDUCATION SERVICES PVT. LTD.
TAGBOX SOLUTIONS PRIVATE LIMITED
TDW TECHNOLOGIES PRIVATE LIMITED
TENXER TECHNOLOGIES PVT LIMITED
TEXT MERCATO SOLUTIONS PVT. LTD.
TOUCHETECH LABS PVT LTD
TRAKRAY INNOVATIONS PVT.LTD
TRANS NEURON TECHNOLOGIES PVT. LTD.
TRASHCON
URBAN BIKES PVT LTD
VARNAAZ TECHNOLOGIES
VAULTEDGE SOFTWARE PVT LTD
VIDEOKEN SOFTWARE PRIVATE LIMITED
VIPRAGEN BIOSCIENCES PVT. LTD.
VNIR BIOTECHNOLOGIES PVT LTD
VPHORE LABS PRIVATE LIMITED
WELLTH SOLUTIONS PVT LTD
WETRUNK IT SOLUTIONS PVT LTD
APRUS BIOMEDICAL INNOVATION
ESYA SOF TECHNOLOGIES
JANITRI INNOVATION
MIMYK
PENTAVALENT BIOSCIENCES
SELFDOT TECHNOLOGIES


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