VentuRISE ’24: Karnataka's global start-up challenge returns with a $300,000 prize and top industry mentors

The Government of Karnataka, in collaboration with TiE Global and TiE Bangalore, has announced the second edition of VentuRISE, a global start-up challenge. VentuRISE ’24 will focus on three key sectors: Electronics System Design and Manufacturing (ESDM), auto/clean mobility, and aerospace & defence.

The winners will share a prize pool of $300,000 and receive mentorship from some of India’s top industry leaders, including 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 problem statements have been provided by industry players, ensuring that start-ups' solutions address real-world issues. This initiative aims to tackle critical industry pain points by offering startups a platform to showcase their solutions and connect with potential investors and mentors.

VentuRISE ’24 aims to attract over 1,000 applications from around the world and engage with prominent private equity firms, venture capitalists, and angel investors.

M.B. Patil, Hon'ble Minister for Large and Medium Industries, Government of Karnataka, stated, “We are committed to fostering a thriving 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.” He emphasized that the Startup Challenge initiative aims to position Karnataka as a global innovation hub, promoting the state as a preferred destination for start-ups in manufacturing and allied sectors by facilitating connections with investors and industry partners.

"This year's event will be even bigger and better, with new initiatives, expanded mentorship programs, and a broader pool of global investors," Patil added.

The Startup Challenge will consist of three rounds, conducted over a period of three to four months. The process will include online application submission, online pitching to the jury, and a final presentation at the Global Investors Meet.