Karnataka Govt Introduces New Accelerator Programme For Growth-Stage Startups
The programme will support a total of 302 startups over the next three years through six joint cohorts
The Government of Karnataka on Tuesday launched the Karnataka Acceleration Network (KAN), an initiative aimed at nurturing and scaling growth-stage startups across the state, particularly in regions outside Bengaluru.
Unveiled by IT-BT Minister Priyank Kharge, KAN is designed to create a structured mentorship framework that connects emerging startups with established accelerators and incubators, to enable collaboration and resource sharing.
KAN will support a total of 302 startups over the next three years through six joint cohorts, enabling them to benefit from tailored mentorship and market access opportunities.
The programme pairs mentor accelerators from Bengaluru, including DERBI, GINSERV, and Jain Launchpad, with regional mentee incubators such as SJCE-STEP from Mysuru, the SHINE foundation from Mangaluru, and UAS from Dharwad. This has been planned to enhance the growth potential of startups across various sectors, ensuring that innovation and entrepreneurship thrive beyond the capital city.
In a statement, Priyank Kharge, Minister for the Departments of Electronics, IT and BT, and Rural Development & Panchayat Raj, Government of Karnataka said, “Karnataka has long been a leader in fostering a vibrant startup ecosystem, both ELEVATE and KAN are specifically crafted to provide a structured pathway for growth. Bengaluru is home to 45 unicorns out of the 112 in the country, with a total valuation of USD 161 billion."
“Our goal is to break into the top three rankings in the world. We are confident that ELEVATE and KAN together will empower startups to tackle funding challenges, scale their operations, and solidify Karnataka’s reputation as a leading hub for innovation and entrepreneurship,” he added.
KAN is implemented by the Karnataka Digital Economy Mission (KDEM) in partnership with KITS, the Department of Electronics, IT, BT, and S&T.
The state government also launched grant-in-aid seed fund scheme for this year, ELEVATE 2024, for early-stage startups. It offers grants of up to Rs 50 lakhs per startup, along with comprehensive support including incubation, expert mentorship, incentives and access to venture capital networks. This scheme will also serve as a gateway to multiple benefits under the Karnataka Startup Policy 2022-27, such as reimbursements for patent, marketing, GST, and quality certification costs, along with subsidised incubation through government-supported Centers of Excellence and Technology Business Incubators across the state.
