Karnataka's Information Technology and Biotechnology Minister Priyank Kharge stated that the state government has done 21 rounds of the ELEVATE program, distributing Rs 249 million in seed capital to 1,084 startups.

ELEVATE is a scheme of grant-in-aid that focuses on financing early-stage startups in Karnataka. In the 2024 cycle of the scheme, 101 startups were awarded grants worth Rs 25 million. Of these, 42 are founded by women, and 36 are from beyond Bengaluru. The grants of Rs 2.1 million to Rs 5 million are awarded across sectors including sustainability, biotechnology, aerospace, and rural innovation.

Kharge pointed out that the ELEVATE programme, which was initially received skeptically, has now aided more than 1,000 start-ups, with 25% of them women-led and 30% in rural locations. He also added that the government is committed to lowering regulatory obstacles, increasing the availability of funding, and ensuring access to the global market.