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Karnataka launches Elevate and KAN to support startups

Economic Times · 5m

The Karnataka government has introduced two initiatives, Elevate 2024 and Karnataka Accelerator Network (KAN), to support startups in the state. Elevate 2024 offers grants of up to Rs 50 lakhs per startup, along with incubation, mentorship, incentives, and access to venture capital networks. KAN aims to assist growth-stage startups by providing shared networks, resources, and learning opportunities. The government is particularly interested in startups working in emerging technologies such as AI, ML, blockchain, and cybersecurity. The initiatives are part of the government's efforts to foster innovation and entrepreneurship in Karnataka.