November 24, 2020

Ex-IT Minister Kharge joins startup fund as advisor

BENGALURU: Congress lawmaker and former Karnataka IT Minister Priyank Kharge has associated himself with a new startup fund called Propel as an advisor. The fund will support startups with a funding of up to Rs 2 crore, a press release said.

The fund will focus on tech businesses such as security, semicon and embedded devices. “Our like-minded team intends to support entrepreneurs to scale up as well as accelerate the growth of their startup,” said Propel board member Srinivas Moramchetty.

Kharge’s experience in shaping the business environment in Karnataka and, in understanding the needs of the startup world will add value to Propel initiative, the press release said.

The former IT Minister said, “Startup ecosystem in the state needs a comprehensive support in the form of fund support, idea validation and access to the market. It is indeed wonderful to see newer programmes arising to help support talents in the state. This will give innovation and technology the necessary push in the state.”

Propel will help with strategic and mentorship support such as VC connect, legal support, industry connect depending on product and service, access to startup tools to reduce the burden on startups, policy advocacy, branding and digital strategy, marketing and sales strategy, the press release said.

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