The Karnataka government today signed MoUs with eight companies including Google and PwC to cater to the needs of the identified 100 startups under the state’s ‘Elevate 100 programme.’
“Google which will provide $3000 worth of cloud credits for startups registered with Startup Cell and $20,000 worth of cloud credit for startups who are winners of Elevate100,” said state IT Minister Priyank Kharge.
Elevate 100 is a government project which will help elevate selected 100 startups by providing them funds and mentors to help them turn their ideas into successful businesses.
PwC will provide mentoring and consulting services for sustainable growth of startups and Yes Bank will give banking services, API Integration and customized solutions for these startups.
Kotak Bank will provide help to set up business and registration processes and assistance in providing accounting, income tax returns, GST returns and tax audits among other support while the Indian Law Practices will provide legal consultancy services for identified startups, Kharge said.
Digital Ocean will give a $100 one-time credit for all startups registered with Startup Cell and a $1000 one-time credit for startups, that are being funded under Karnataka Startup Cell while Zoho will provide the startups 35 plus integrated applications on one account with complete administrative control and complementary mobile apps.
Earlier, the Karnataka government announced the finalists of Elevate100. Identified startups include ESD, Life Life Sciences, BioTech, Agri Tech, AVGC, Clean Tech and IT/IAS, Kharge said.
Around 11 rural entrepreneurs and 19 women entrepreneurs were identified under the scheme. Under Elevate 100 programme, Karnataka government plans to spend Rs 400 crore to elevate 100 startups by providing them funds and mentors to help them turn their ideas into successful businesses.
The shortlisted startups will also have access to government VC funds, pilots, private VC funds, world class accelerators and mentors, Kharge said.
Like this press release? Submit yours here.