Priyank Kharge (X)
New Delhi: Karnataka government is set to introduce a pioneering initiative aimed at nurturing aspiring entrepreneurs. Announced at the Startup Conclave in Bengaluru on August 9 by IT-BT Minister Priyank Kharge, the program will offer a monthly stipend of ₹25,000 for one year to individuals who have left their jobs to start their own ventures.
"We are launching what could be India’s first entrepreneurship program of its kind, providing financial support to those making the leap into entrepreneurship," Kharge explained. He acknowledged that while ₹25,000 might seem modest given the current inflation, it will cover essential living expenses for budding entrepreneurs.
The initiative, known as the Rajiv Gandhi Entrepreneurship Programme (RGEP), was proposed in Karnataka Chief Minister Siddaramaiah’s 2024-25 budget. It is designed to support young entrepreneurs with backgrounds in science or engineering, providing them not only with financial aid but also with mentorship from K-tech innovation hubs. Kharge emphasized the success of Karnataka's Elevate program, describing it as “the most-loved scheme for startups” and assuring that successful Elevate-registered startups will be among the government’s first customers.
Kharge also highlighted Karnataka's transformation into a global technology and innovation hub. “Bengaluru didn’t become the world’s fourth-largest technology cluster overnight,” he noted. The state’s evolution from a back-office center to a leader in research and development has positioned it at the forefront of service exports and innovation indices. The Global Innovation Alliance, which includes partnerships with countries like Germany, Australia, and Belgium, aims to create international opportunities for Karnataka startups, with specific plans for an AI corridor connecting San Francisco and Bengaluru.
In addition, Kharge outlined the state’s commitment to fostering innovation through various upcoming events. These include the Bengaluru Tech Summit, Social Innovation Summit, Urban Solutions Summit, Clean Water Summit, and Circular Economy Summit. "These events will address real-world challenges, and we’re prepared to support disruptive solutions, including funding pilot projects," Kharge said.
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