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Karnataka announces Rs.600-Cr fund for investments in deep-tech
The Karnataka government has announced a "Deep Tech Decade" initiative, committing an initial investment pool of INR 600 crore to foster growth in deep-tech across the state. The investment includes INR 150 crore for the DeepTech Elevate Fund, specifically targeting AI and frontier technologies. Additionally, INR 80 crore is allocated under the Elevate Beyond Bengaluru Fund to promote startups in Mysuru, Mangaluru, Hubballi-Dharwad, and Kalaburagi.The KITVIN Fund will receive INR 75 crore for equity-based investments in deep-tech and AI startups, with individual funding ranging from INR 50 lakh to INR 2 crore. Furthermore, INR 48 crore is earmarked for new incubators and accelerators at IIT and IIIT Dharwad and Kalaburagi, and INR 110 crore will support business incubators in 11 higher education institutions.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.