Strategies


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/IDEA2POC(PROOF OF CONCEPT) FUNDING

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

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 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.

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.

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 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.

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.