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.


KITVEN FUND-1

  • Details:Karnataka Information Technology Venture Capital Fund (KITVEN Fund) is a State & Central Government financial institutions backed Venture Capital Fund (VCF) operating in the State of Karnataka since 1999.
  • Fund size:Rs.15.00 crore,
  • Sector: Information Technology specific.
  • Eligibility: SEBI registered.
  • Where to apply:http://www.kitven.com/

Idea2PoC Grant

  • Details: A programme to provide early stage funding to ideas or concepts which are yet to establish the proof of concept in the real world.
  • Corpus:Up to Rs. 50 Lacs for selected ideas.
  • Available To: Open to anyone from Karnataka who has an idea and is willing to commit time to bring it to a PoC stage.
  • Process to Avail: This is followed by shortlisting through evaluations by the panel of judges and presentations before the Idea2PoC committee.

Grand Challenges

  • Details:An initiative to facilitate generation of Innovative Technology solutions with a social impact in various sectors like Urban Development, Health Care, Food Security, Clean Environment and Education for all etc.
  • Corpus:
    • Up to Rs. 10 Lacs for 5 shortlisted projects.
    • Up to Rs. 50 Lacs for 1 innovation selected from the list of 5.
  • Available To: Open to anyone from any discipline in India – from individuals, researchers and faculty in colleges/ universities/ government labs/ institutions to start-ups, and not for profit organizations.
  • Process to Avail:Applicants should register on the program website, fill an online form at http://www.impactkarnataka.org .

Semiconductor Venture Fund

  • Details:A venture fund focused on investment and development of Semiconductor industry with investments in units catering to semiconductors, Electronics system design and manufacturing (ESDM), embedded systems and such other allied sectors within the state of Karnataka.
  • Corpus: Rs. 92.95 Crores.
  • Available To:
    • Start-up, early stage, and SMEs.
    • Maximum funding: Rs 9.20 Crores.
    • Minimum funding: Rs 2 Crores.
  • Process to Avail:
    • Send executive summary covering aspects like brief background of company & promoters, technology, past financial performance, market opportunities, uniqueness of the product / technology / solution, funding requirements by email to info@kitven.com
    • OR
    • Send the physical application form to Karnataka Asset Management Company Private Limited, 403, HVS Court, 4th Floor, HVS Court, 21, Cunningham Road, BANGALORE 560052.
    • A panel of experts judge the application and have further discussions and presentations to decide on the funding.
  • Where to apply:http://www.kitven.com/application-form

Bio Venture Fund

  • Details: A fund that invests in companies/ enterprises engaged in the agricultural, pharmaceutical, industrial, IT and other services, related to Biotechnology and allied industries in Karnataka.
  • Corpus:Rs. 50 Crores.
  • Available To:
    • Start-ups, Early Stage, and SMEs.
    • Maximum funding: Rs.3.50 Crores.
    • Minimum funding: Rs. 1 Crore.
  • Process to Avail:
    • Send executive summary covering aspects like brief background of company & promoters, technology, past financial performance, market opportunities, uniqueness of the product / technology / solution, funding requirements by email to info@kitven.com
    • OR
    • Send the physical application form to Karnataka Asset Management Company Private Limited, 403, HVS Court, 4th Floor, HVS Court, 21, Cunningham Road, BANGALORE 560052.
    • A panel of experts judge the application and have further discussions and presentations to decide on the funding.

AVGC Venture Fund

  • Details: A fund focused on enterprises engaged in Animation, Visual Effects, Gaming and Comics (AVGC) sector and other related businesses.
  • Corpus:Rs. 20 Crores.
  • Available To:
    • Start-ups, Early Stage, Small and Medium Sized Enterprises.
    • Maximum funding: Rs.2 Crores.
    • Minimum funding: Rs. 50 Lacs.
  • Process to Avail:
    • Send executive summary covering aspects like brief background of company & promoters, technology, past financial performance, market opportunities, uniqueness of the product / technology / solution, funding requirements by email to info@kitven.com
    • OR
    • Send the physical application form to Karnataka Asset Management Company Private Limited, 403, HVS Court, 4th Floor, HVS Court, 21, Cunningham Road, BANGALORE 560052.
    • A panel of experts judge the application and have further discussions and presentations to decide on the funding.

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:Coming Soon