Kanara Entrepreneurs (KE) has introduced a new incubation initiative, ' Elevate by KE,' dedicated to fostering entrepreneurship. Ivan Fernandes, the Global Chairman, who is also an angel investor and serial entrepreneur, recently unveiled this flagship program. He described it as an annual program in which two startups are chosen for a ten-month incubation period. During this time, seasoned mentors will assist the founders in harnessing the KE network's potential, helping them establish a solid business foundation, and providing crucial initial seed capital necessary for the startup to advance to the next stage.

KE received applications from startups based in India and the United Arab Emirates, where the organization has established chapters. The Incubation committee, comprising Mark D’Souza (a chartered accountant and former president of KE Bangalore Chapter), Lloyd Mathias (angel investor and business strategist), and Rohit Fernandes (serial entrepreneur), convened earlier this week to assess all applications. They shortlisted four startups, GoDigitag, MadVR, Iconic Office Furniture, and Yacht Inventory Management, founded by Vinod Philips, Vincent Anthony DSouza, Nixon Lobo, and Prince Preetham Pinto. These selected startups will participate in a pitch session scheduled for November 17 at Hotel Grand Magrath in Bengaluru.

Lead members from KE's Dubai and Bangalore chapters will attend the pitch session, jointly evaluating and choosing two startups from the shortlisted four. Pramod DSouza, the associate director of mentoring at KE Bangalore chapter, expressed satisfaction with the quality of startups and believes that the program will assist founders in advancing their businesses to the next level. He also highlighted the potential for the program to inspire more young individuals from the community to embark on entrepreneurial ventures. Claudius Pereira, president of KE Bangalore chapter, participated in the initial pitch session via a conference call alongside Ivan Fernandes earlier this week. Both are extremely pleased with the shortlisted startups and their business models, expressing enthusiasm about the market opportunities these startups could tap into with effective execution.