Karnataka’s Propel to help startups pitch their solutions to tech firms, government departments

economictimes.indiatimes.com:

Propel to help startups, supported under the government’s startup policy, in offering their innovative solutions to government departments, as well as interested private companies. The aim of Propel is to fast-track the adoption of solutions developed by startups for both government and private sector. This initiative will create more opportunities and help startups get their elusive first customer, IT/BT and Rural Development & Panchayati Raj Minister Priyank Kharge told ET.

The Siddaramaiah regime will spend Rs 5 crore for the ambitious programme. Hundreds of startups in the state have already received early stage funding from the government under its popular Elevate programme. The initiative, rolled out by Kharge during his first stint as IT/BT Minister six years ago, supports select startups to scale up their products or solutions.

Propel seeks to take the Elevate programme forward, aiming to accelerate adoption of solutions developed by the ‘Elevate’ startups. The government will spend Rs 1 crore this year on the new platform that will facilitate the matchmaking process, the minister said. It will help startups pitch directly to large tech MNCs/ GCCs, global innovation alliance (GIA) partners, and other organisations, he added.

Prashanth Prakash, founding partner at Accel, hailed the latest initiative as a much needed one that aligns well with the incubation and accelerator programmes of large technology companies. Propel, he added, would provide a synergistic opportunity for the startups to work with tech multinationals which could open up new funding options for them. “The goal is to create mutually beneficial partnerships where MNCs/ GCCs gain access to disruptive technologies, while startups benefit from the MNC