Karnataka govt gives Rs 1.8 crore grant to 8 startups

Karnataka  govt gives Rs 1.8 crore grant to 8 startups

 The Karnataka government has given grants worth Rs 1.8 crore to eight startups in the tourism sector under Idea to Proof of Concept Grant Scheme (Idea2POC) initiative.

Idea2POC, a part of India’s first multi-sector startup policy, is an ‘ignition fund’ given in form of grant limited to a one time grant of up to Rs 50 lakh. The eight startups were shortlisted from 127 online registrations.

The startups that were awarded the grant by Chief Minister Siddaramaiah included — AAO Hostels (Rs 40 lakh), Highway Delite (Rs 35 lakh), Highir Technologies (Rs 25 lakh), DigiTour Technologies (Rs 25 lakh), Aseuro Technologies (Rs 25 lakh), Trip Dairy (Rs 20 lakh), Moving Up Products (Rs 5 lakh) and Trip On Food (Rs 5 lakh).

On criteria for giving the grants Priyank Kharge Minister of State for Information Technology and Tourism Government of Karnataka told DH, “The idea has to be innovative and it is to be validated by the industry experts of that particular vertical,” Kharge added.

“Idea of the government is that 20,000 startups succeed, that we groom. And the only way to ensure that is that thier ideas are transformed to a proof of concept, which can be taken to the market. Our idea is to ensure that innovation grows at the bottom of the pyramid,” he added.

Liked the story?

  • 0

    Happy
  • 0

    Amused
  • 0

    Sad
  • 0

    Frustrated
  • 0

    Angry