Karnataka To Host Venture Capital Connect With $17 Billion Investment Potential.

Karnataka is preparing to conduct Venture Capital Connect during the Bengaluru Tech Summit 2024 (BTS 2024) which is scheduled for 19th – 21st November 2024. The three-day event is intended to link new businesses with investors. The Department of Electronics, IT & Biotech organises the Biotechnology Program intending to increase the available investment opportunities and encourage innovation in the state.

Focus On Connecting Startups And Investors

More than 50 investment houses from family offices, and angel and venture capital investors with total investment power of $17.5 billion will be present at the event.

Expected Companies:

322 companies representing different technologies are expected to participate, including:

• 23 in an ideation phase.

• 142 in early traction.

• 75 in the conceptualisation stage.

• 82 in the growth phase.

Innovation and Patents:

• Out of these, 118 startups have applied for patents which explains the innovation that is coming out in the state of Karnataka.

Opportunities for Startups and Investors

The event is quite active in connecting startups with investors looking to partner with them and take advantage of several opportunities that are awaiting them. Here's how the startups are going to benefit.

• Contest Goals: The startups will pitch their concepts to international investors and obtain a meaningful vision of how to grow their company.

• Funding Sources: Such investors will find a very strong portfolio of growing companies looking for investment in the newest technology.

Read More: Samridh Scheme: Empowering Startups

Boosting Karnataka’s Startup Ecosystem

The objective of this initiative is to enhance the growth of start-ups located in Karnataka and to promote creativity in the region.

• Assistance from Business Giants: Investment organisations and venture capital networks are the partners to the programme so that start-ups can benefit from funding and support.

• Encouraging Local Entrepreneurs: Karnataka is also inviting local entrepreneurs to the state so that they can jumpscale their ideas and develop them further with the help of international investors.

Minister’s Statement

Speaking about the event, Priyank Kharge, Minister for IT & Biotechnology and Rural Development, said:

“Karnataka has always been a leader in innovation. Through BTS 2024, we are building a bridge between our startups and global investors. This event is more than just funding; it is about investing in the future of Karnataka’s entrepreneurs who are shaping tomorrow’s technology."

Conclusion

The Venture Capital Connect program during BTS 2024 is a very important milestone in efforts to strengthen the state’s startup ecosystem which is based in Karnataka. By linking up startups with foreign investors, the state is improving the climate for innovations, creating more avenues and setting the stage for new technological frontiers.

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