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Karnataka Innovation and Technology Society (KITS) in association with Karnataka State Women Development corporation (KSWDC) is inviting applications from women entrepreneurs under “Vriddhi” Scheme.
This scheme was announced in state budget of FY 2022-23. Under this scheme KSDWC will
be providing loan assistance of INR 5 to 10 lakhs at 4% interest rate to be repaid in 60 installments.
1. Should be an entity (Pvt. 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 26th August 2022
4. Must be Idea2PoC calls/Elevate (2016-2021)/ Amrita Startups 2021 winners or runners-up
5. The product should be a minimum viable product (MVP) with standard results and
information from the competent authority.
6. Must have grown during the last three years at an annual rate of up to 20%– either in number of employees or in turnover (billing).
7. At least one director (s) / partner (s) should be a female entrepreneur with
substantial shares in the company / office.
3rd Aug, 2022 - 10:00 AM
26th Aug, 2022 - 5:00 PM
Startup Karnataka, GoK
+91 - 080 22231007
1. Applications will be initially screened for eligibility as per Karnataka Startup Policy 2015-20 and Data Sufficiency by Startup Cell, KITS. The shortlisted applications will be evaluated by independent jury members.
The following parameters will be considered for evaluation
2. The Karnataka Innovation and Technology Society (KITS) shall select a list of eligible women entrepreneurs through their expert panel and submit to the Karnataka State Women’s Development Corporation with the recommendation.
3. The Project Implementation Committee chaired by the Managing Director, Karnataka State Women’s Development Corporation would select the women entrepreneurs and sanction the loan directly to the beneficiaries’ account through RTGS.
4. After six months of issuance of the loan, the loan will have to be repaid in 60 equal instalments including the annual interest rate of 4%.
5. The loan assistance under this scheme will be provided only for winners or runners-up of Elevate/Idea2PoC Calls.
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