Karnataka govt launches global startup challenge
BENGALURU: With an aim to support growth stage startups in manufacturing and sustainability-related sectors, the Karnataka government on Thursday launched – the Global Startup Challenge – VentuRISE.
VentuRISE will be a part of the Global Investors Meet – Invest Karnataka 2022, which will be held from 2 – 4 November in Bengaluru. The global challenge will help entrepreneurs across the globe with a platform to showcase their innovative products or solutions and connect with potential investors.
A cash prize of $ 100,000 is earmarked for the winners. The winners will also get access to customers, exclusive pitch sessions at Invest Karnataka and curated investor meetings and mentoring sessions. Unveiling the logo of VentuRISE at the launch, Minister for Large and Medium Industries Murugesh R Nirani said the aim is to promote Karnataka as the preferred destination for startups in manufacturing and sustainability sectors.
EV Ramana Reddy, Additional Chief Secretary to Commerce and Industries said, “Karnataka is the go-to destination for innovation in industries. Through the Challenge, we aim to identify the top innovators and growth stage startups in manuf a c tur ing and allied sectors.” Over 2,000 applications are expected for this challenge and they will be shortlisted by October 25.