Start-Up Hub To Be Set Up In Odisha By March 2021; In-Principle ‘Assistance’ Nod To 9 Units

Bhubaneswar: An advanced start-up hub with state-of-the-art common facilities will be set up in Odisha by March next year to create more employment opportunities for the youth.

This was revealed at the State Startup Council Meeting chaired by Chief Secretary Asit Tripathy here on Saturday, which also accorded in-principle approval for providing financial assistance to five start-ups and four incubators.

Important Takeaways

>> The hub would be a centre of excellence with co-working spaces, fab-lab and common services under one roof.

>> Assistance will be provided to these start-ups – Awalk Innovation Pvt Ltd, Subhalaxmi Future Solution (OPC) Pvt Ltd, Sanlop Health Care Solutions Pvt Ltd, Batti Ghar Sustainable Solution Pvt Ltd, and Xioty Solutions Pvt Ltd.

>> The incubators considered for assistance are Incovations Foundation, Berhampur; Sri Sri University Innovation Pvt Ltd, Bhubaneswar; Foundation for Technology and Business Incubation, NIT, Rourkela; and, KIIT Technology Business Incubator, Bhubaneswar.

>> Estimated total assistance of Rs 2.88 crore will be provided to these units.

>> A third-party would assess the outcomes from the utilisation of these grants.

>> Two national-level institutions – Central Tool Room and Training Centre (CTRTC), Bhubaneswar and Institute of Life Science (LIS), Bhubaneswar – have been empanelled as Nodal Agency under Startup Odisha.

The chief secretary directed the officials to scale up the start-up eco-system in Odisha through strategic partnership and facilitating policy intervention. He stressed a strong relationship of support, facilitation and handholding between the incubators and the start-up entrepreneurs.

He also asked them to expedite the process for the launch of Fund-of-Funds for Start-ups.

Odisha was placed in the ‘Leader’ category along with Maharashtra, Rajasthan and Bihar in the second edition of the ranking of states 2019 on Support to Startup Ecosystems released by Ministry of Commerce and Industry in September. The state scored as institutional leaders and regulatory change champions.

Odisha now hs 774 start-ups providing employment to more than 6000 youth.