Karnataka’s Elevate Nxt program, a deep-tech startup initiative, received a significant response with over 750 applications from across India. The program focuses on supporting startups in emerging technologies like Artificial Intelligence, Machine Learning, Biotechnology, SpaceTech, and Electric Vehicles.
Elevate Nxt aims to identify and nurture high-potential, technology-driven startups, providing them with resources and mentorship to scale their operations. The program offers a total prize pool of ₹20 crore, distributed among selected startups across different stages – Seed, Growth, and Scale.
The first cohort will select 20 startups in the Seed stage, 15 in the Growth stage, and 10 in the Scale stage. Selected startups will receive funding ranging from ₹50 lakh to ₹2 crore, alongside access to state-of-the-art infrastructure, expert guidance, and networking opportunities.
A key focus of Elevate Nxt is to foster innovation within Karnataka and position the state as a leading hub for deep-tech startups. The program’s emphasis on sectors like Biotechnology and SpaceTech aligns with the state government’s vision to promote research and development in these areas.
The applications reveal strong interest from startups based in Karnataka, Maharashtra, Tamil Nadu, and Delhi NCR. The program’s selection process involves multiple stages, including preliminary screening, pitch presentations, and due diligence. A panel of experts from the industry and academia will evaluate the startups based on their innovation, market potential, and scalability.
The Department of Electronics, IT, Bt and S&T, Government of Karnataka, is implementing Elevate Nxt. The program is expected to create a vibrant ecosystem for deep-tech startups, driving economic growth and generating employment opportunities in the state. The final list of selected startups will be announced soon, and the program is slated to commence in the coming months.
