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Idea2PoC/ ELEVATE Program

A Government of Karnataka initiative intended to bolster the voyage of Startups with a cushion of funding - ELEVATE 2023

Idea2PoC/ Elevate 2023

Challenge and Selection Process

ELEVATE was intended to identify top innovative startups in Karnataka, who would be given Government support to scale up their product or solution so that they can elevate to the next level.

Selection process is done with the help of NASSCOM (10,000 Startups), TiE-Bangalore (The Indus Entrepreneurs), Deshpande Foundation, IESA (India Electronics and Semiconductor Association), ABLE (Association of Biotech Led Enterprises), ABAI (Association of Bangalore Animation Industry), Mobile10X etc.

Pitch an innovative startup idea, top pitches will be selected for Government aided support to scale up their product or solution to the next level.

Rewards:

ELEVATE 2023: Eligibility Criteria

1. Should be an entity (P v t . Ltd/OPC/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)

2. Total revenue generated in terms of turnover from the date of incorporation should be less than INR 100 Crore

3. Startups should not have crossed 10 years from the DATE of INCORPORATION/ REGISTRATION Certificate as of 31st March 2023.

4. Startups/Entity working towards innovation, development, or improvement of products or processes, or services, or if it is a scalable business model with a high potential of employment generation or wealth creation

To Apply for ELEVATE: General Terms & Conditions

1. Registration with shops and establishment CANNOT be accepted as a certificate of incorporation/ registration to apply for the call.

2. MSME, Udyog Aadhar GST, Trade Union, KMF, VAT certificates, etc. shall NOT be considered as the certificate of incorporation as per the Karnataka Startup Policy Government Order.

3. The Startup CANNOT be a subsidiary/ franchise/white-labeled reseller/ part of a group company.

4. The Startup CANNOT have a partnership value with another company/ entity.

5. The Startup CANNOT be a section 8 company, Trust/ Association/Society, or non-profit company.

6. The Startup CANNOT be a Merger/ Demerger of a bigger organization.

7. The Startup CANNOT be a part of any Govt. initiative/ aided partner or public-private partnership company/firm.

To APPLY for ELEVATE/Idea2PoC Scheme, it is mandatory to sign-up and login to
Startup Karnataka Portal – www.missionstartupkarnataka.org

Applications that DO NOT comply with the mentioned ELIGIBILITY CRITERIA/ Supporting Documents will be DISQUALIFIED at any Stage of the Selection/ Funding Process resulting in the cancellation of their Application/ Grant.!
Only ONE application per Startup/Entity will be accepted. Only the first application will be considered in case of multiple applications from one Startup.
Please go through the ELIGIBILITY CRITERIA for the call carefully before applying.
Startups that have been WINNERS of Idea2PoC Grant Scheme/ Grand Challenges/ Unnati” earlier WILL NOT BE ELIGIBLE TO APPLY “…!

NOTE – Please note that NO CHANGES can be made once the online application form is submitted.

Mandatory Documents

(Please ensure that the following documents are ready as per the format and file size mentioned)

✓ Incorporation/ Registration Certificate (In PDF Format. file size to be less
than 1 MB)
✓ Company MoA/ Partnership Deed (In PDF Format.Each file size should to be
less than 1 MB)
✓ Pitch Deck (In PDF Format. file size to be less than 5 MB)

Disclaimer:-

a. Only one application per Startup/entity will be accepted. Only the first application will be considered in case of multiple applications from the same Startup.

b. Only online applications submitted through this portal will be considered.

c. Any information/details pertaining to the application form/project, if found incorrect at any stage, will lead to the application being summarily rejected.

d. Application forms with incomplete or irrelevant data/mandatory documents or incorrect format may lead to disqualification at any stage.

e. The application must be submitted online well before the last date to avoid the last-minute rush leading to server/technical glitches.

f. This application works best on Any of the latest Browsers.

g. The documents accepted as proof of Incorporation of the company:

(i) Private Limited Company (Pvt Ltd)/ One Person Company (OPC)/ Limited Liability Partnership (LLP): Certificate of Incorporation by Ministry of Corporate Affairs

(ii) Partnership Firm: Certificate of Registration of Firm under Partnership Act 1932 by the Registrar of Firms. (Please note that Partnership Deed alone will not be accepted as proof for Partnership Firm. Certificate of Registration of Firm under the Partnership Act 1932 by the Registrar of Firms is mandatory. Apart from the above-mentioned type of entity/ incorporation, no other entities will be considered)