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Funding

Karnataka was a pioneer in funding the growth of IT industry through its KITVEN-1 and 2 funds. Under its Innovate Karnataka initiative, the State Government would be providing financial support equivalent to Rs 300 crore in the form of grant/equity through its various funds to startups; micro and small enterprises in IT,BT, and other manufacturing sectors in the next four years.

KARSEMVEN Fund

  • Fund Size: 100 Crores
  • Sector: Semiconductor, Electronics System Design & Manufacturing (ESDM), Embedded Systems and such other allied sectors.
  • Eligibility: Entrepreneurs/companies seeking Venture Capital assistance can forward their Executive Summary (not exceeding 4-5 pages covering Company Background, Market Opportunities, Products/Technology, Target Market, Operating Plan, Funding)
  • Where to apply: All the executive summaries should be mailed to info@kitven.com

KITVEN Fund-3 (Biotech)

  • Fund Size: 50 Crores
  • Sector: Bio Technology, Life Sciences and other allied fields.
  • Eligibility: Entrepreneurs/companies seeking Venture Capital assistance can forward their Executive Summary (not exceeding 4-5 pages covering Market Opportunities, Products/Technology, Target Market, Operating Plan, Funding)
  • Where to apply: All the Executive summaries should be mailed to info@kitven.com

Startup Fund of Funds

  • Fund Size: 200 crores
  • Sector: Multi sector
  • Eligibility: Daughter VC Funds must be compliant with SEBI and other regulatory framework in India.
  • Where to apply: Call for proposals to be notified soon

IDEA2POC Fund

  • Fund Size: upto 50 Lakhs
  • Sector: All technology based sectors.
  • Eligibility: Students, professionals and startups may apply here for this GoK grant-in-aide

Guidelines       Apply Here

Grand Challenges Funds

  • Fund Size: Rs. 15 Crores
  • Sector: All sectors
  • Eligibility: The State Government will use the mode of grand challenges to identify 5 challenges every year, to seek innovative, technology-based solutions from startups. Initial grant, follow on funding and implementation of the pilot will be ensured for selected solutions