Karnataka has always been a trailblazer in India’s startup ecosystem and its Elevate 2024 scheme lately stands as proof of its commitment. It was launched in 2015 and the initiative has transformed the way early-stage startups grow as well as innovate. The state government has extended a helping hand to more than 900 startups by offering grants of up to ₹50 lakh.
Elevate 2024 is special and is more than just financial aid. The scheme connects entrepreneurs with venture capitalists, mentors and industry leaders. The vision of Karnataka of becoming the world’s biggest startup hub feels closer and thanks to programs like these.
The support goes even further as Startups can get reimbursements for marketing costs, patent filing fees and subsidies for achieving global quality standards. The benefits are crucial for small businesses which are trying to make their mark. But perhaps the most remarkable aspect of Elevate 2024 is its inclusivity.
Around 32% of the supported startups come from smaller cities and this breaks the myth that innovation only thrives in big urban hubs. About 24% of the startups are led by women and this proves that the initiative is not just about growth, but also about equal opportunity.
The efforts of Karnataka have not gone unnoticed. The state consistently tops NITI Aayog’s India Innovation Index and has been named as the Best Performer in DPIIT’s States Startup Ranking for several years.
Elevate 2024 is a golden opportunity for entrepreneurs. The deadline for applications is November 29, 2024. It is time for startups to step forward and grab the chance to grow with Karnataka’s backing.
