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Karnataka Startup Policy 2015-2020

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Strategies

FOSTERING-STRONG-PARTNERSHIPS

FOSTERING STRONG PARTNERSHIPS BETWEEN R&D INSTITUTIONS AND INDUSTRY

  • Set up a Society or Section 8 company
  • Equipments and Viability Gap funding
  • Industry-Academia connect and Project Funding
PROVIDING-EARLY-STAGE

PROVIDING EARLY STAGE/IDEA2POC(PROOF OF CONCEPT) FUNDING

  • Grants up to Rs.50 L
  • Validation of Proof of Concept
  • Virtual Incubation
ENCOURAGING-ENTREPRENEURSHIP

ENCOURAGING ENTREPRENEURSHIP IN EDUCATION THROUGH NAIN

  • Support given to professional and post graduate colleges in tier-II and tier-III cities for setting up the incubator
  • 10 student projects funded in each partner institute
  • Mentor connects provided to student projects
CREATING-INCUBATION

CREATING INCUBATION INFRASTRUCTURE THROUGH PPP

  • Selection of partners will happen through RFPs or with Industry Associations
  • Infrastructure support, mentoring, legal & accounting services will be offered to incubatees
  • Partners will help implement incentives and benefits to startups.
Channelise-Innovation

CHANNELIZING INNOVATION FOR SOCIAL IMPACT

  • 5 challenges will be announced every year
  • Initial and follow on funding will be given based on achievement of milestones
  • Pilots will be implemented through departments
  • Winners will be provided with incubation space on a preferential basis
Startup-funding

START-UP FUNDING THROUGH FUND OF FUNDS

  • A fund manager will be selected
  • The investment committee will consist of experts from industry academia and industry
  • The fund will focus exclusively on startups.
Promoting-capacity-building

PROMOTING CAPACITY BUILDING THROUGH EXPOSURE VISITS AND WORKSHOPS

  • Join the Karnataka Startup Cell at global conferences to expand your markets
  • Meet incoming trade delegations and foreign investors with the Karnataka Startup Cell
Provide-state-support

PROVIDING STATE SUPPORT IN THE FORM OF INCENTIVES AND CONCESSIONS

  • Collect reimbursement of VAT and CST for early stage startups
  • Collect reimbursements on Patent spends for both domestic and foreign filings
  • Collect reimbursement on marketing expenditure upto 30% of the cost incurred subject to 5 Lakhs per startup annually
  • 10% reservation for women in seats of partner incubators
  • Self Certification under various enactments

Download the Karnataka Startup Policy 2015

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