KTK signs MoUs with Google, PWC, other firms to boost startups

The Karnataka government today signed eight MoUs with renowned companies including Google and PWC to cater to the needs of the identified 100 startups under the state's 'Elevate 100 programme.'

"Google which will provide USD 3000 worth of cloud credits for startups registered with Startup Cell and USD 20,000 worth of cloud credit for startups who are winners of Elevate100," IT Minister Priyank Kharge said here.

Elevate 100 is a government project which will help elevate selected 100 startups by providing them funds and mentors to help them turn their ideas into successful businesses.

Under the programme, the state government would spend Rs 400 crore over a period of time.

PWC will provide mentoring and consulting services for sustainable growth of startups and Yes Bank will give banking services, API Integration and customized solutions for these startups, he said.

Kotak Bank will provide help to set up business and registration processes and assistance in providing accounting, income tax returns, GST returns and tax audits among other support, Kharge said.

The Indian Law Practices will provide legal consultancy services for identified startups, he added.

Digital Ocean will give a USD 100 one-time credit for all startups registered with Startup Cell and a USD 1000 one-time credit for startups, that are being funded under Karnataka Startup Cell, Kharge said.

Zoho will provide the startups 35 plus integrated applications on one account with complete administrative control and complementary mobile apps, he said.

Earlier, the government announced the finalists of Elevate100.

Identified startups are various sectors like ESD, Life Life Sciences, BioTech, Agri Tech, AVGC, Clean Tech and IT/IAS, Kharge said.

There are as many as 19 women entrepreneurs identified under the scheme and 11 from rural areas, he said.

Under Elevate 100 programme, government would spend Rs 400 crore to elevate 100 startups by providing them funds and mentors to help them turn their ideas into successful businesses.

The shortisted startups will also have access to government VC funds, pilots, private VC funds, worldclass accelerators and mentors, Kharge said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)