The Government of Karnataka, in partnership with TiE Global and TiE Bangalore, has unveiled the second edition of VentuRISE, a global startup challenge aimed at fostering innovation in key sectors. VentuRISE ’24 will spotlight three critical industries, Electronics System Design and Manufacturing (ESDM), auto/clean mobility, and aerospace and defence.
Start-ups participating in VentuRISE ’24 will compete for a share of a USD 300,000 prize pool, along with mentorship opportunities from some of India's leading industry experts. Notable mentors include Ankit Fatehpuria, Co-founder of Zetwerk; Awais Ahmed, Founder and CEO of Pixxel, Gadhadhar Reddy, Founder and CEO of NoPo Nanotechnologies, Minu Margaret, Founder and CEO of Bliss Club, Kaushik Mudda, Co-Founder and CEO of Ethereal Machines and Rohan Ganapathy, CEO and CTO of Bellatrix Aerospace.
The challenge is grounded in real-world problem statements provided by industry leaders, ensuring that participating start-ups develop solutions that address genuine industry challenges. This initiative aims to connect innovative startups with investors and mentors, offering them a platform to showcase their solutions and drive growth in critical sectors.
VentuRISE ’24 is expected to draw over 1,000 applications globally and engage with a wide network of private equity firms, venture capitalists, and angel investors.
M.B. Patil, Minister for Large and Medium Industries, Government of Karnataka, expressed the state’s commitment to nurturing a vibrant start-up ecosystem. "VentuRISE ’24 is a testament to our dedication to supporting innovative entrepreneurs who are driving the future of manufacturing and allied sectors," Patil said. He emphasised that the initiative aims to position Karnataka as a global innovation hub, promoting the state as a premier destination for start-ups in manufacturing and related fields by facilitating connections with investors and industry partners.
Patil further added, "This year's event will be even bigger and better, with new initiatives, expanded mentorship programs, and a broader pool of global investors."
The Startup Challenge will unfold over three rounds, spanning three to four months, and will include online application submission, virtual pitching sessions to the jury, and a final presentation at the Global Investors Meet.
