Karnataka has announced grants of Rs. 3.18 crore to 12 startup companies in the state. The startups, identified by the Karnataka Department of Information Technology and Biotechnology, specialise in a wide range of specialities, skills, and industries, such as agriculture, biotech, security, communications, and robotics and have been selected on the grounds of the application of the technology, practicality, feasibility and innovation.
The beneficiary startups have been a part of the Idea2PoC, a scheme being implemented by the Karnataka Startup Cell, Department of IT, with each company receiving an initial funding up to Rs.50 lakh each.
Idea2PoC is a part of the first multi-sector Startup Policy launched by the Karnataka government in 2015, and is being implemented by KBITS. The main aim is to discover and encourage brilliant innovators in the state who need early stage funding to help in commercializing their innovation, assistance, researches, etc.
Priyank Kharge, Minister for IT & BT, said, “The state is filled with young, talented and brilliant people, and it is our responsibility to ensure that these talents are recognized. These 12 startups were chosen because they have the potential to make a difference.”
Gaurav Gupta, Principal Secretary Department of IT, BT and Science and Technology said, “Start-ups in the fields of agriculture, biotech, security, communications, robotics, and gaming are springing up rapidly. Our vision is to promote and mentor these start-ups, and provide them with all the assistance they require to become self-sufficient.”
Salma K Fahim, Managing Director, KBITS, said, “The government is targeting start-up companies in new and emerging technologies such as animation, artificial intelligence, big data, virtual reality, etc as these companies can solve long standing problems, will provide numerous job opportunities and aid in the Make In India programme.”
To recall, in March of this year Karnataka Government has funded eight tourism startups under the same Idea2POC Scheme and got grants ranging from Rs. 5 lakh to Rs. 50 lakh to develop ideas and products.