The Karnataka government on Friday announced the launch of the Rajiv Gandhi Entrepreneurship Programme (RGEP), which is aimed at cultivating innovation and fostering entrepreneurship among young and talented graduates.

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The initiative by the Department of Electronics, IT and Biotechnology signifies a strategic shift from traditional job-seeking to entrepreneurship, offering viable career options, stimulating job creation, and promoting technological advancements. 

By doing so, RGEP aims to drive innovation-led economic growth within Karnataka, officials said. According to an official statement, RGEP is set to support 30 innovators by providing a monthly stipend/subsistence grant of Rs 25,000 for a duration of 12 months. 

This financial support is intended to help these innovators navigate the uncertainties of the ideation phase. 

The programme culminates in the development of a Prototype, Minimum Viable Product (MVP), or Proof of Concept that demonstrates business potential. 

"Innovators participating in RGEP will be required to collaborate with designated K-Tech partners (Centres of Excellence, TBIs and Innovation Hubs). 

These hubs will closely monitor the progress of each innovator throughout the 12-month programme, ensuring support and guidance during their entrepreneurial journey," it stated. The last date for submission of application form would be August 13, it added.