Elevate 2019, organised by the state Department of IT, BT and S&T (Information Technology, Biotechnology, Science and Technoloy) concluded on Tuesday.

Bengaluru :

Elevate 2019, organised by the state Department of IT, BT and S&T (Information Technology, Biotechnology, Science and Technology) concluded on Tuesday. Of the 270 startups that made their pitch, 100 of them were selected as winners.

“Of the 100 winners, 29 are co-founded by women entrepreneurs and 23 are from Tier 2 and Tier 3 cities. 76 startups from Bengaluru, 10  from Dharwad, 3 from Dakshina Kannada, 2 each from Mysuru and Udupi, and 1 startup from Bijapur, Chamarajnagar, Chikballapur, Davangere, Mandya, Tumakuru and Uttara Kannada respectively won Elevate 2019,” a press statement by the department said.

TM Vijay Bhaskar, chief secretary, said, “Karnataka is the first state in the country to initiate grant in aid to start-ups without taking equity. We will soon set up an innovation authority headed by the CM to empower start-ups to overcome legal hurdles in innovating technologies and ideas.”

“The funds are regularly monitored by the government. Funds are released to the start-ups based on their progress. Elevate 2019 generates a lot of visibility for innovative start-ups and enables them to raise further funds from angel investors and capitalists at a later stage,” said Gaurav Gupta, principal secretary of the department.

source: http://www.newindianexpress.com / The New Indian Express / Home> States> Karnataka / by Express News Service / July 31st, 2019