20cr to 100 startups; K taka 1st to give aid sans equity: Min – The Times of India

Under the Elevate Karnataka programme, the government will fund around 100 startups with a committed budget of Rs 20 crore this year. The startups that need funding and mentoring to scale up can apply till December. The government will provide a onetime grant of up to Rs 50 lakh to each startup to encourage innovators who may need early-stage funding. Karnataka is the first state in the country to provide grant-in-aid to startups without taking equity in return.