ELEVATE 2024
Karnataka isn’t just part of India’s startup story, it’s been writing some of its most defining chapters. With Bengaluru as its shimmering epicentre, the state has been dubbed the “Silicon Valley of India” for years now. But as innovation begins to decentralise and ideas sprout far beyond the capital, the state government’s flagship program ELEVATE 2024 is proving to be more than just a title; it’s a mission to empower startups that dare to think differently and build boldly.
This year, the initiative drew over 960 applicants, a testament to the energy pulsing through Karnataka’s innovation corridors. After rigorous rounds of evaluation, 101 startups were chosen to receive financial support and mentorship under the program. Among them was Acviss Technologies, a Bengaluru-based startup solving one of the modern world’s most insidious problems: counterfeiting.
While India’s startup press often fixates on unicorns and investor valuations, ELEVATE 2024 took a more grounded, and arguably more progressive, route. It offered not just validation, but ₹25 crores in grant-in-aid, infrastructure support, and access to an ecosystem of incubators, mentors, and policymakers. These are the quiet, critical ingredients that help startups move from idea to impact.
A Program Built for Inclusion
What makes this year’s cohort especially notable is the diversity of its composition.
- 42% of the startups are led by women, a powerful signal in an industry often criticised for its gender imbalance.
- 36% hail from emerging tech hubs beyond Bengaluru, reflecting a clear intent to push innovation beyond urban boundaries.
- The selected startups come from 14 different districts, with 17 focused on rural innovations, ensuring that even the remotest corners of Karnataka have a stake in its digital future.
It’s a bold blueprint for inclusive innovation, one that moves away from concentration and toward collaboration.
Acviss: A Signal of Trust in a Noisy World
Amid this dynamic mix of industries and geographies, Acviss stood out for its sharp focus on trust, a commodity in increasingly short supply in today’s global markets. Founded by entrepreneur Vikas Jain, Acviss is tackling the global counterfeiting epidemic with a fusion of tamper-proof digital labelling, blockchain, and AI-powered detection systems.
The company’s suite of products, ranging from Certify, which helps consumers verify product authenticity, to Truviss, an AI tool that scours the internet for counterfeit listings, has protected over 2 billion products across industries like pharmaceuticals, fashion, electronics, and FMCG. But the ELEVATE 2024 recognition carries a different weight.
“It’s not just about funding. It’s about being seen and supported by your ecosystem,” Jain shared in a statement following the announcement. “Acviss’s anti-counterfeit effort was born in Karnataka, and it’s deeply meaningful to be recognised here, where our mission first took shape.”
Counterfeiting: The Invisible Crisis
While digital innovation often captures headlines for its glamour, Acviss operates in the quieter but crucial space of brand protection. Counterfeiting isn’t just a commercial nuisance, it’s a health hazard in pharmaceuticals, a safety risk in electronics, and a revenue leak in virtually every sector.
The scale of the issue is staggering. Global estimates suggest the counterfeit industry is worth over $500 billion, with developing countries bearing the brunt of its impact. In this context, Acviss doesn’t just offer a product; it offers peace of mind, both for companies and consumers.
Its inclusion in the ELEVATE 2024 cohort is a telling indicator of where the state’s priorities lie: in technology that solves real-world problems with tangible outcomes.
Why the ELEVATE Program Matters
At a time when early-stage funding is tightening globally, programs like ELEVATE 2024 are a lifeline. But more than that, they’re a platform for reimagining what Indian innovation can look like, diverse, decentralised, and driven by impact. Supporting ventures like Acviss shows that the state is betting on technologies that safeguard markets, empower consumers, and foster long-term credibility in Indian products.
And for the 101 startups selected this year, the journey is only beginning. With access to mentorship, incubation support, and government networks, they are better positioned not just to scale but to lead responsibly, at home and abroad.
