Bengaluru: The state government has said it has selected eight tech-based startups in the tourism sector to develop ideas and products that will help promote and enhance the potential of the State. These startups will receive grants ranging from Rs 5 lakh to Rs 50 lakh to develop various solutions.
The grants are part of the Idea to Proof of Concept Grant Scheme (Idea2POC) of the Karnataka Startup Policy 2015-20. According to a press release from the government, 127 applications were received and the selected companies will share a grant amounting to Rs1.8 crore.
Idea2POC is an ‘Ignition Fund’ disbursed in the form of grant-in-aid but limited to a one-time grant of up to Rs 50 lakh. The funds shall be released in tranches based on the life cycle of the business plan.
The eight companies are AAO Hostels, Highway Delite, Highir Technologies, DigiTour Technologies, Aseuro Technologies, Trip Dairy, Moving Up Products and Trip On Food. They received cheques for the 1st instalment of funds from Chief Minister Siddaramaiah.
The state government’s startup policy was launched in November 2015 with the aim of nurturing 20,000 technology-based startups and 6,000 product-based firms in the State.
