Thursday, August 31, 2017

Karnataka Signs MoUs with 8 Technology Firms to Assist Startups

The Karnataka government has signed memorandums of understanding (MoUs) with eight technology companies, including Google and Amazon India, to help startups under its Elevate 100 programme. The state has selected 100 startups under the programme and will provide them with mentorship and financial support from its Rs 400-crore startup fund.

Google and Amazon Activate will provide $3,000 worth of cloud credits for startups registered with the government's Startup Cell and $20,000 worth of cloud credits to startups who are winners of Elevate 100. Digital Ocean will provide $100 one-time credit and a $1,000 one-time credit. Yes Bank, Kotak Bank, and Zoho will help the startups with banking and accounting services. PwC and Legal Advisors will help them with consulting services.

Priyank Kharge, IT, BT & tourism minister, said: “The efforts of the Karnataka government doesn't stop at elevating the chosen 100. We see Elevate 100 as a continuing process where the best ideas from the state get the support and guidance they deserve.“

The winners, which were selected from 1,700 applicants, operate in various sectors.

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