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KARNATAKA’S STARTUP INITIATIVE GETS RECOGNITION

Focus: GS-III Indian Economy  

Why in news?

  • An initiative of the Centre to encourage competition between States has seen Karnataka come up trumps.
  • Karnataka has been identified as one of the top performers in 2019, alongside Kerala, as per the latest States Startup Ranking Framework, set up by the Department for Promotion of Industry and Internal Trade, under the Ministry of Commerce and Industry.

Details

  • Karnataka was adjudged ‘top performer’ for the second time in succession mostly in recognition of the State’s development initiatives such as futuristic policies to support new and disruptive technologies, the regulatory committee for reviewing the challenges faced by startups working in emerging technologies, ELEVATE, a concept providing comprehensive entrepreneurship platform for startups.
  • The State has also been recognised as an institutional leader, a procurement leader, a champion of regulatory change, and as a progressive player in innovation and incubation.

ELEVATE 100 programme

  • A brainchild of Karnataka State Government, the ELEVATE 100 programme is a combined initiative of the government of Karnataka’s Startup Cell, the Karnataka Biotechnology and Information Technology Services (KBITS).
  • As part of the programme, they not only provide funding support, but also, provide mentorship, idea validation, and market access.

-Source: The Hindu

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September 2022
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