The Government of Karnataka, through the Karnataka Biotechnology and Information Technology Services (KBITS), offers financial incentives to support startups in their international marketing efforts. KBITS, a pivotal nodal agency of the state government, is instrumental in promoting the sustained growth of the IT, BT, and Startup sectors within Karnataka. Its overarching mandate is to foster a dynamic and competitive startup ecosystem, enabling local innovations to achieve global recognition and success. This program specifically aims to reimburse eligible expenses incurred by startups participating in global trade shows, international conferences, and other strategic promotional activities, thereby facilitating their entry into new markets.
Recognizing the critical importance of global market access for scaling innovative ventures, this scheme empowers Karnataka-based startups to overcome financial barriers associated with international expansion. By supporting participation in global events and marketing initiatives, the program directly contributes to enhancing the visibility of Karnataka's startups on the world stage, attracting potential investors, partners, and customers.
Under this scheme, eligible startups can claim reimbursement for 30% of their actual international marketing costs, with a maximum cap of Rs. 5 Lakhs per company annually. The reimbursement covers a comprehensive range of activities, including travel expenses for trade show participation, various international marketing and sales promotion initiatives, and costs associated with digital and print publications for brand building and global outreach. Additionally, subscriptions to vital market research materials, which provide crucial insights into international markets, are also eligible for reimbursement. The financial support is provided to offset a portion of critical international outreach expenses. Specifics include economy air travel, and a daily allowance for lodging, food, and local commute during international travel, capped at ₹9,300 per day. While the core support is monetary reimbursement, the program effectively enables market access and global exposure for Karnataka-based startups, positioning them for international growth.
Claims are processed on a half-yearly basis within the financial year, and must be submitted within six months of the expense being incurred. The program explicitly gives preference for reimbursement to applications submitted by woman members of the startup, underscoring a key objective to promote diversity and inclusion within the state's burgeoning startup ecosystem, encouraging more women entrepreneurs to take their ventures globally.
