Funding to launch any start-up at the early stage of conceptualisation is the biggest challenge for any. It is more difficult for the women technocrats. Keeping this issue in mind, the Karnataka government launched this unique scheme – Idea2PoC Fund.
Idea2PoC Fund –An Overview
The scheme is being implemented through the start-up cell of the Department of IT and BT. This fund is called the Idea2PoC Fund for women entrepreneurs. The Information Technology department of Karnataka government has announced a fund of Rs 10 crores for this scheme.
Inculcating entrepreneurship skills among women and providing an opportunity to shape their ideas into workable models of business is the main motto of this scheme. This scheme enhances the confidence level of women entrepreneurs to face society while achieving their targets.
Idea2PoC Fund – Objective
This scheme is launched by the Karnataka government to provide an early stage funding to ideas or concepts to establish the proof of concept of the women technocrats. It is an initiative launched to encourage women entrepreneurship in the state mainly in the IT and BT sector.
As per the scheme eligibility criteria, a women entrepreneur will get upto Rs 50 lakhs to set up a venture. Along with the funding for a women entrepreneur, who is willing to start a business in the information technology sector, the scheme will also extend legal and mentoring support.
What makes this funding unique is it is released in the form of agrant in aid. The fund will be released in instalments in two years. Application is invited every year to select the beneficiaries under the scheme.
As per the scheme notification, only those start-ups which fulfil the eligibility criteria under the state start-up policy are eligible to apply.
Amount of the fund: Selected ideas will get Rs 50 lakhs.
Selection Process
A panel of judges will shortlist the applicants based on their presentation before the Idea2PoC committee.
Where To Apply:
You can apply on their official website. The scheme details and the application forms are made available on this website. For more information interested can contact the helpline number 080 2263 2626