Odisha government gives nod for five Start-up proposals

BHUBANESWAR: The State Government on Thursday approved five proposals, including the one for registering 3 new institutions as nodal centres for Start-ups. Chairing a meeting of the State Start-up Council, Chief Secretary Aditya Padhi also approved the proposals for providing financial assistance to technology business incubators in National Institute of Technology (NIT), Rourkela and KIIT, Bhubaneswar.

The three institutes which got the approval to function as nodal centres for Start-up are Institute of Hotel Management, Bhubaneswar, Sri Sri University, Cuttack and National Institute of Science and Technology (NIST), Berhampur.

The council also decided to extended need-based assistance to Ordunio Labs for carrying forward its innovation of embedded SIM. Besides, the innovative ideas of Coastkings Pvt Ltd for sea food processing and packaging was also accorded approval for need-based assistance.

The Chief Secretary advised the Micro, Small and Medium Enterprises (MSME) department to promote employment intensive Start-ups and extend necessary hand holding supports to the promoters till their ventures became viable.

The State has made rapid strides in the Start-up initiative with an average rate of 20 Start-ups recognised per month which is more than national average which is 17 to 18 units per month.“Around 233 Start-ups across 39 sectors have been registered within one year. These units are presently providing employment to around 2000 persons,” said MSME Additional Chief Secretary LN Gupta after the meeting.

Around 30 units in Odisha have been provided various benefits like monthly allowance, product development assistance, need-based assistance, reimbursement of expenses and one-time matching capital grant. Presently 7 recognised Start-up incubators are operating in the State.

These incubators are operating at IIT-Bhubaneswar, NIIT-Rourkela, Institute of Mineral and Mining Technology, Bhubaneswar; Software Park of India, Bhubaneswar; OUAT, Bhubaneswar; NIFT-Bhubaneswar; KIIT Technology Business Incubator, Bhubaneswar; Centurion, Bhubaneswar and Xavier University at Jatani.

The Chief Secretary asked the department to intensify the Start-up Odisha Yatra launched by Chief Minister Naveen Patnaik for motivating more number of youths to venture into new areas.

Development Commissioner R Balakrishnan advised the department to organise Start-up Conclave in line with with Make in Odisha conclave to provide better exposure to promising entrepreneurs of the State.

Motivating youth

  • Financial assistance to technology business incubators in NIT-Rourkela and KIIT-Bhubaneswar approved
  • Three nodal centres for Startup are IHM-Bhubaneswar, Sri Sri University in Cuttack and NIST-Berhampur
  • Need-based assistance to be provided to Ordunio Labs for carrying forward its innovation of embedded SIM

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