As many as 300 startup women entrepreneurs have registered for mentorship and funds under the Rs 400-crore ‘Elevate 2017’ scheme to help themselves turn their ideas into successful businesses, Karnataka IT Minister Priyank Kharge said today. The government has earmarked Rs 10 crore out of the Rs 400 crore fund for spending it on selected startup women entrepreneurs, but all would not be given money as some of them would seek help in mentoring, accounting and legal matters, he said in a release here. These women have registered across Mysuru, Mangaluru, Hubballi, Kalaburagi and Bengaluru and would be competing with other registered entrepreneurs to avail Rs 400 crore fund that would be distributed to 100 selected entrepreneurs.
The entrepreneurs will now pitch for funds at open house sessions to be held at various cities across the state beginning tomorrow, Kharge said. The declaration of entrepreneurs who have been selected would be made between August 29 and August 30, he added. The funds had been allotted under ‘Elevate Programme’, stated to be the first of its kind in the country, and was unveiled by Kharge on July 4 in the presence of NAASCOM Product Council Chairman Ravi Gururaj and other venture capitalists.
The selected entrepreneurs would be provided access to idea validation, incubation facilities and in depth sessions for startups on accounting, legal and emerging technologies. The government also has brought Venture Capitalists (VCs) on board to help it curate and fund startups, if selected entrepreneurs wished, Kharge said. The programme has been launched in partnership with Deshpande Foundation, The Indus Entrepreneurs and others.