48 startups shortlisted for Karnataka's VentuRISE 2024-25

Bengaluru, Feb 6 (PTI) A total of 48 startups have been selected for the Karnataka government's prestigious VentuRISE 2024-25 Global Startup Challenge, which aims to promote innovative solutions in electronics system design and manufacturing, automotive/EV, and aerospace and defense sectors.

With around 1,000 global applications, the prestigious startup challenge is preparing for the Grand Jury Pitch Round, offering USD 3,00,000 in awards and unmatched opportunities for networking with investors, mentors, and corporate leaders at Bengaluru Palace, a state government release said.

The winners will be announced at the Global Investors Meet (GIM) 2025 scheduled from February 11–14, 2025.

"The Government of Karnataka and the Department of Commerce & Industries in partnership with TiE Global and TiE Bangalore are proud to unveil the top 48 startups shortlisted for the prestigious VentuRISE 2024-25 Global Startup Challenge," it said.

As Karnataka continues to strengthen its position as India's innovation powerhouse, VentuRISE serves as a critical platform to accelerate the growth of disruptive startups across key sectors, it added.

Through this initiative, Invest Karnataka reaffirms the state's leadership in enabling high-impact entrepreneurship and deep-tech innovation. The initiative has received overwhelming support from corporates such as Epsilon Carbon, BOSCH, Gold Plus, Lam Research, Toyota, to name a few, the release said.

Since its inception, VentuRISE has played a pivotal role in identifying, nurturing, and propelling startups toward global recognition.

The inaugural edition in 2022 witnessed over 1,200 applications, with past winners like Devic Earth Pvt Ltd and Suzhiyam Industrial Machines setting new benchmarks in sustainability and advanced manufacturing.

The 2024-25 edition has attracted approximately 1,000 applications from around the world, reinforcing Karnataka's reputation as a global hub for technology-driven entrepreneurship.

The shortlisted startups, hailing from India, the US, Egypt, and Italy, represent the most promising innovators across the three focus sectors.

Through a meticulous three-round evaluation process, the Steering Committee and an Interim Jury assessed applications based on four criteria - Innovation and Creativity (Novelty and uniqueness of the proposed solutions), Stage of Development (Technical readiness and commercialisation potential), Scalability and Market Potential (Growth trajectory and market fit) and Founding Team's Expertise (Vision, leadership, and execution capabilities).

The top startups will now advance to the Grand Jury Pitch Round, taking place from February 11–14, 2025, at GIM, culminating in a grand valedictory ceremony to honour the winners and celebrate the impact of VentuRISE 2024-25.

"The Government of Karnataka is committed to providing a robust ecosystem that enables startups to thrive," the statement said.

The shortlisted startups will gain exclusive access to showcase at GIM 2025, get curated mentorship from TiE's network of experienced mentors, and investment and partnerships from venture capitalists, private equity firms, and potential customers.

A total of USD 3,00,000 in cash awards for the top three startups in each track.

GIM 2025 will also feature the 'VentuRISE Innovation Conclave', an exclusive startup track complete with masterclasses, keynote sessions, and unparalleled networking opportunities designed to drive innovation-led growth.

"As a global leader in technology, research, and entrepreneurship, Karnataka continues to drive initiatives that strengthen its startup ecosystem. VentuRISE stands as a testament to this vision, reinforcing the state’s role as the preferred destination for disruptive ventures in deep tech, mobility, and manufacturing," the statement said.

"Invest Karnataka invites entrepreneurs, investors, and industry leaders to witness the transformative impact of VentuRISE 2024-25". PTI DR

Source: PTI