Karnataka tops charts with 14 out of 46 national Startup awards in hand
- ByStartupStory | January 17, 2022
Karnataka has topped all charts by bagging 14 out of the 46 national startup awards which were awarded by the Central Government on the occasion of the National Startup Day. The Centre received 459 nominations from the state’s startups. There were 2,177 applications from all over the country across several sub-sectors.
To further promote the establishment of startups across the states, the state government has decided to implement various initiatives for funding support to the startups. Furthermore, the initiatives aim to handhold the startups with seed funding under the Idea2Poc and offering a support amount as high as INR 50 lakh. The government has also planned to revise its startup policy to identify and back its innovative startups in districts to ensure equity and fairness.
The government has already amended its public procurement regulations to give extra weight to startups so that they are able to compete with established players in government tenders.
In 2021, Karnataka has attracted Rs 1.60 lakh crore in FDI which was more than half of what flowed into the entire country. Of the 57,000 startups in the country, Karnataka is home to about 13,000. Bengaluru more than doubled its venture capital funding to $21.3 billion in 2021.
Karnataka is home to the highest number of agri-tech startups in the country and there is still a mountain of hard problems to solve for innovative entrepreneurs — the opportunity in agri-tech is huge.
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