The Karnataka government on Tuesday said it has granted Rs 10.70 crore to 26 startups in the Biotech sector to bolster innovation.
The 26 winners of the Idea2PoC (proof of concept), an initiative organised by the Karnataka Startup Cell, received cheques ranging up to Rs 50 lakh (each) in the first tranche from IT, BT and Tourism Minister Priyank Kharge.
Kharge said the Department of IT and BT will support these startups to develop ideas, technologies and products which can have significant impact on the lives of people, a release said. “Idea2POC offers entrepreneurs a holistic support system to explore, develop and launch their best ideas,” Kharge said.
Idea2PoC was implemented by the Bengaluru Bioinnovation Centre, set up by Karnataka Biotechnology and Information Technology Services to nurture startups in the field of biotechnology.