The Karnataka government announced the launch of two flagship programmes­ - ELEVATE 2024 and Karnataka Acceleration Network (KAN) - here on Tuesday to help early stage and growth-stage start-ups fuel their growth by solving funding woes.

ELEVATE 2024 is a grant-in-aid seed funding scheme designed to empower early stage start-ups in the State, while KAN is an acceleration network that provides mentorship, market access, and funding opportunities for growth stage start-ups across Karnataka.

Addressing a media conference here on Tuesday, Minister for IT, BT, Rural Development and Panchayat Raj Priyank Kharge said: ‘’ELEVATE provides grants up to ₹50 lakh per start-up, along with extensive support, including incubation, expert mentorship, incentives, and access to venture capital networks.”

According to Mr. Kharge, the scheme is a gateway for availing various benefits under Karnataka Start-up Policy 2022-27, such as incentive reimbursements for patent costs, marketing costs, GST (State), and quality certification costs.

He also unveiled an event app for the State’s annual tech exposition, Bengaluru Tech Summit 2024. The app was designed to offer registered delegates, exhibitors, and speakers and immersive and streamlined experience of the summit, he said.