Bengaluru Tech Summit unveils initiatives to support startups at all stages

At the Bengaluru Tech Summit (BTS) 2024, new initiatives were unveiled to boost Karnataka’s startup ecosystem and strengthen its position as the country’s innovation hub.

 

The summit was marked by the launch of six innovative initiatives designed to support startups across all stages of their journey—from ideation to scaling up for the global market.

 

One of the initiatives is Innovate Campus, which focuses on deep-tech innovations such as quantum AI, climate tech, and space tech. “Innovate Campus will foster cross-sectoral collaborations, connecting startups, corporations, and global challenges,” said Ekroop Kaur, IT secretary. “This initiative will ensure Karnataka remains at the forefront of environmental and visionary technological collaborations.”

 

 

There is also an Investor Connect Programme, a three-day interface aimed at bridging the gap between startups and investors, with over 100 investors and more than 200 startups coming together. “This programme will pave the way for multi-billion-dollar investments, creating significant job opportunities for Karnataka,” said Kaur.

 

Over 200 startups are set to benefit from one-on-one mentoring sessions with experienced mentors. Kaur emphasized, “Mentorship is a critical component in a startup’s journey, and we are committed to providing world-class guidance to help these startups scale.”

 

The Elevate Programme, a flagship initiative, provides branding support of up to Rs 50 lakh for emerging startups.

 

The Expansion Strategy Collaboration Initiative aims to provide technical and business expertise to startups, ensuring their growth and sustainability in the competitive market.

 

Additionally, three new Technology Business Incubators (TBIs) will be set up to provide startups with enhanced resources. The government also announced the launch of the Startup Awards in 2025, with an open call for startups to showcase their achievements.

 

Health minister Dinesh Gundurao highlighted the growing role of technology in transforming the health sector. “The government is working tirelessly to harness the power of AI, telemedicine, and tele-ICUs to improve healthcare delivery, particularly in rural areas,” said Gundurao. He added that the summit’s emphasis on AI-driven diagnostics, such as ECG and X-ray scanning for early detection, aligns with the government’s vision to improve access to healthcare for millions of people in Karnataka.

 

“The tech ecosystem in Bengaluru is vibrant, and we are committed to building on this energy. Our focus is to strengthen the infrastructure and create an environment conducive to growth, not only in Bengaluru but across Karnataka,” Gundurao stated.

 

Shanthi Mohan, founder of Let’s Venture, shared her insights into a programme designed to bridge the gap between startups and industry needs. “This initiative focuses on validating ideas in a sandbox environment and providing funding and pilot phases if ideas are validated. Industry-driven research is key to ensuring that products and services solve real-world problems, especially those identified by the government,” said Mohan.

 

The programme, which involves collaboration with industry leaders like Cisco, also emphasizes the role of academic institutions in validating and testing ideas. “We are creating a platform for startups to collaborate with experts, access mentorship, and gain critical funding if their ideas meet the required standards,” she added.

 

The Karnataka government said it remains steadfast in its commitment to nurturing innovation and job creation within the state. As part of its ongoing efforts to support the startup ecosystem, it is expanding incubator programmes, launching startup awards, and strengthening the collaboration between academia, industry, and government.

 

“With the support of the state government, startups will have the resources they need to scale up and succeed,” said Kaur.

 

The government said the initiatives announced during the summit are expected to position Karnataka as a key player on the global innovation map, attracting talent, investments, and partnerships from across the world.

 

Recently, the government stated that Venture Capital Connect, a three-day programme connecting startups and investors, is being organised by the Department of Electronics, IT, and Biotechnology (Bt), Government of Karnataka, as part of BTS 2024 from November 19-21. The government said the programme is expected to attract over 50 leading global investors, including family offices, angel investors, and venture capital firms, with a combined potential investment fund of more than $17.5 billion. The government did not disclose specific details about these investors or the timeline for when the investments might materialise.