GG News Bureau
Bengaluru, 2nd September. The Karnataka government launched the Global Startup Challenge VentuRISE on Thursday in order to recognize, reward, and support growth stage startups in the manufacturing and sustainability sectors.
VentuRISE will be a part of the flagship event “Global Investors Meet – Invest Karnataka 2022,” which will take place on November 2 and 4 at the Bangalore Palace.
The Global Challenge will provide a platform for aspiring entrepreneurs all over the world to showcase their innovative products or solutions and connect with potential investors.
For the smooth operation of the Startup Challenge, the Department of Industries and Commerce has partnered with TiE, the largest network of entrepreneurs dedicated to fostering entrepreneurship, and TiE Bangalore, the local chapter of TiE Global. According to an official release, Amazon is sponsoring the initiative.
Our goal is to promote Karnataka as a preferred destination for startups in the manufacturing and sustainability sectors, as well as to attract investors and industry partners to help them grow.
“We are consistently working from a policy intervention perspective and towards building cutting-edge infrastructure to support our entrepreneurs,” said state Industries Minister Murugesh Niriani, unveiling the VentuRISE logo.
This challenge will focus on startups in the manufacturing and sustainability sectors through a screening and selection process led by industry experts over the next two months. Entrepreneurs from all over the world will be able to showcase their products or solutions and build a strong network to aid their ventures.
The winners will receive a cash prize of USD 1,000,000. The winners will receive customer access, exclusive pitch sessions at Invest Karnataka, curated One-on-One investor meetings, and mentoring sessions. Famous private equity, venture capital, and angel investors are expected to take part.
The Startup Challenge will be a three-round competition held over the course of two months. The process will include online application submission, online jury pitching, and the final presentation at the Global Investors Meet, as well as media exposure across platforms.
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