Karnataka announces seed capital up to Rs 50 lac to 200 startups

From Our Special Correspondent
Daijiworld Media Network - Bengaluru

Bengaluru, Jan 16: To promote technological innovation in the State, as many as 200 Startups will be provided with seed funding of up to Rs 50 lac each in the current year, Higher Education and Minister for IT/BT and Skill Development, announced on Sunday.

Addressing the first ‘National Startup Day’ event observed at Vidhana Soudha, he said this being the year of Azad Ki Amrut Mahotsav (75th year of Independence) the seed capital will be facilitated to additional 75 Startups to achieve the tally to 200 Startups in the year.

In the present year, the State has so for attracted Rs 1.60 lac crore of foreign direct investment which is more than 50% of the investment made in the entire country.

The State is home to over 13,000 Startups out of the total 57,000 in the country. In view of maintaining the leading position of the state in the sector the stress on digital education and skill development will be focussed through effective implementation of NEP, he explained.

Prime Minister Narendra Modi has said the role of Startups will be crucial in India becoming ‘vishwaguru’ and ‘super power’.

Going forward along the lines of the Prime Minister’s thought, the growth of hardware will also be facilitated together with software in the State, Artificial Intelligence and Robotics Translational Park (AIRTP) being set up at IISc stands as a testimony to the commitment towards the growth of emerging industries, the Minister said.

Under ESDM policy, Rs 5,000 crore will be given as subsidy, and out of this Rs 2,000 crore has already been given in the first year, Dr Narayana informed.

Dr Prashanth Prakash, Chief of Startup Vision Group, called on startup entrepreneurs to ‘Make for the Rest of the World’ along with ‘Making for India.

Dr EV Ramana Reddy Additional Chief Secretary, Department of Electronics and IT/BT, said translation of Ideas to Proof of Concepts and then to marketable products.

Dr Meena Nagaraj, Director, Deptartment of Electronics and IT/BT, described the Startup ecosystem of the State.

14 Startups awarded:

The Union government has observed the ‘Startup India Innovation Week’ from January 10- Janurary16 and has announced national rewards for the Startups for their innovative product development.

Out of the 56 Startups awarded, 14 from the State have bagged the innovation awards toput state on top in the country.

The national award winners are:

• Umbo Idtech Pvt. Ltd (Fintech),
• Naffa innovations Pvt Ltd.,
• Thinkerbell Labs (Edutech),
• Simplotel Technologies (Travel and Hospitality),
• Blinkin Technologies (Augmented Reality),
• Tagbox Solutions (IOT- healthcare),
• Shapos Services Pvt Ltd,
• Athreya Global Solutions,
• Zentron Labs Pvt Ltd (Agritech post-harvest),
• Marketxpander Services (Customer Relationship Management),
• Leucine Rich Bio Pvt Ltd. (Life Sciences),
• Stellapps Technologies (Animal Husbandry),
• 1 Bridge (Freight & Logistics), and Steradian Semiconductors(Traffic Management)





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Comment on this article

  • rolf, Dubai

    Mon, Jan 17 2022

    Sanctioned farm loans not being disbursed due to software glitch .

    DisAgree [1] Agree [1] Reply Report Abuse

  • KS Mayya, Mangalore/Bangalore

    Sun, Jan 16 2022

    Most startups in Bangalore survive because of funding from Venture capitals (VCs). Startup's success or failure is not because of funding in niche areas such as AI etc. I wish Government used this fund for encouraging startups monitored by expert committee for (a) Safe Waste disposal rather than just burning it and hope for the best, (b) Safe disposal of waste water and recyclable water. (c) Multi-level communication technologies for critical care based on India healthcare scenario. (d) Applications and solutions based on latest technologies that enable judicious water utilization for high yield agriculture. (e) Reduce waste and increase utilization of agriculture produce until it reaches the last consumer whilst keeping cost under control. These are the requirements of India which is facing rapid urbanization and loss of arable land towards urbanization.

    DisAgree [1] Agree [2] Reply Report Abuse

  • Jossey Saldanha, Raheja Waterfront

    Sun, Jan 16 2022

    Start with Rs. 15 Lacks promised in 2014 ...

    DisAgree [5] Agree [11] Reply Report Abuse

  • Ajay Rebello, Kallianpur

    Sun, Jan 16 2022

    These days what can you do with 25 thousand, except publicity stunts.

    DisAgree [4] Agree [7] Reply Report Abuse

  • Navin Shetty, Manipal/ Bahrain

    Sun, Jan 16 2022

    This is what happens when you stubron to disagree for anything government does, read the article correctly before you comment. Its up to 50lakh each for 200 startups.

    DisAgree [7] Agree [7] Reply Report Abuse

  • Joel, Mangalore

    Sun, Jan 16 2022

    Government has lots of cash now after gst

    DisAgree [3] Agree [11] Reply Report Abuse

  • Veer, Nagpur

    Sun, Jan 16 2022

    But no money to pay govt employess salaries. Only consolation is faking doesn’t need money. Zero money investment but not sure of any votes going forward.

    DisAgree [3] Agree [10] Report Abuse

  • Ajay Rebello, Kallianpur

    Sun, Jan 16 2022

    My patience ended with feku and his bakhts. This is exactly the kindvof brainless thing, like kannada medium engg colleges, that i expect from these jokers.

    DisAgree [1] Agree [8] Reply Report Abuse

  • Ajay Rebello, Kallianpur

    Sun, Jan 16 2022

    Don't get me started on who the beneficiaries will be.

    DisAgree [1] Agree [6] Reply Report Abuse

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