Bengaluru, NFAPost: Karnataka State Department of Electronics, IT, Bt and S&T has invited application for ELEVATE-UNNATI 2020, unique startup innovation and scaleup opportunity for by SC/ST Entrepreneurs.
Interacting with NFAPost, Karnataka Deputy Chief Minister and IT and BT Minister Dr.Ashwatha Narayana said ELEVATE-UNNATI 2020 is an Idea2PoC Grant-in-aid for Startups by SC/ST Entrepreneurs.
“Karnataka is a top state as far as startup and innovation are concerned. ELEVATE-UNNATI 2020 is another initiative from the state government in this journey, primarily directed to backward communities. All entrepreneurs in the state should take this golden opportunity to receive funding up to Rs 50 lakh,” said Karnataka Deputy Chief Minister and IT and BT Minister Dr.Ashwatha Narayana.
The minister also pointed out that the programme will help identify startups among SC/ST class and make them most innovative startups and elevate them to the next level.
“ELEVATE-UNNATI 2020 is here to enable entrepreneurs in their Atmanirbhar journey. The programme will help to reach next level of entrepreneurship by way of mentoring, taking to sandbox environment and help in approaching VCs for their rapid growth,” said Karnataka Deputy Chief Minister and IT and BT Minister Dr.Ashwatha Narayana.
The application will be accepted by the department via online till October 15 at 5 pm. The primary criteria for accepting the application is the startup should be registered in Karnataka and one of the director / partner should be from SC/ST community.
The Karnataka government started Elevate Karnataka startup initiative in 2017 to aid start-ups from smaller cities and towns. As part of the programme, the Karnataka IT&BT department comes up with an annual programme to identify 100 of the most innovative start-ups across sectors in the state. The government is also going ahead with its plan to promote startup by launching debt fund. The IT/BT department is looking to earmark Rs 150 crore under a new ‘Debt Fund’ to help companies secure Series-A funding.
- Should be an entity (Pvt. Ltd/ OPC Pvt Ltd/ LLP/ Partnership Firms) Registered or Incorporated in Karnataka. (private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008)
- Total revenue generated in terms of turnover from the date of incorporation should be less than INR 100 Crore
- Startups should not have crossed 10 years from the DATE of INCORPORATION/ REGISTRATION Certificate as on 15th October 2020
- At least one of the Director(s)/ Partner(s) should belong to the SC/ ST community and should hold a minimum of 70% SHARE in the company/ firm
- Such SC/ ST Director(s)/ Partner(s) should possess a valid digital caste certificate issued by the Revenue Department, Govt. of Karnataka with a valid RD NUMBER
- Such SC/ST Director(s)/ Partner(s) should continue to be a part of the business for at least one year from the date of receiving benefits from the Department
- Terms and conditions of ownership should NOT be altered to his/her disadvantage during the course of the project
- Applications not meeting the above-mentioned ELIGIBILITY CRITERIA shall be Disqualified at any Stage of the Selection/ Funding process resulting in the cancellation of their Application/Grant
- * Registration with shops and establishment cannot be accepted as a certificate of incorporation/ registration to apply for the call.
- * MSME, Udyog Adhar, GST, Trade Union, KMF, VAT certificates etc. shall not be considered as certificate of incorporation as per the Karnataka Startup Policy Government Order.
- * The startup cannot be a subsidiary/ franchise/ white labeled reseller/ part of a group company.
- * The startup cannot have a partnership value with another company/ entity.
- * It cannot be a section 8 company or Trust/ Association/Society or a non-profit company.
- * It Cannot be a Merger/ Demerger of a bigger organization.
- * It cannot be a part of any Govt. initiative/ aided partner or public-private partnership company/firm.
- * Caste Certificate Issued by Government (In PDF Format. file size to be less than 2 MB)
- * Company MoA/ Partnership Deed (In PDF Format. file size to be less than 2 MB)
- * Incorporation/ Registration Certificate (In PDF Format. file size to be less than 2 MB)
- * Pitch Deck (In PDF Format. file size to be less than 10 MB )