Policy Boosts Startups

Chief Minister Naveen Patnaik today said the State Government has made certain amendments in the Startup Odisha Policy to further encourage the startups, innovators and young entrepreneurs.

Speaking at the Grand Finale of Startup India-Odisha Jatra held at Jayadev Bhawan here, the Chief Minister said, while wishing the Startup Odisha Initiative all success, that the Startup India-Odisha Yatra was launched on January 30.
“I am glad to know the Jatra van could impact nearly ten thousand youth across 50 academic institutions,” he said and added, during the Jatra 3600 ideas were received, out of which 125 ideas were shortlisted for the Accelerator Program.
“Today, 75 of them are getting incubation offers from different incubators namely, IIT Bhubaneswar,   STPI,   KIIT University, Centurion University and many other institutions,” the Chief Minister said adding, “This is an excellent initiative to scout grass root level innovators, who will be incubated at least for 3 months for their further development and possible conversion into Startup enterprise.
On this occasion MSME Minister Prafulla Samal said MSME Department and Startup Secretariat at IED are making best efforts to build one of the best eco-system in the State.
Chief Secretary Aditya Prasad Padhi said Odisha Startup Policy is one of the best in the country.
“We are offering capital as well as matching grant to the incubators to enable them to build suitable ecosystem. Recently, a grant of Rs.2.5
crore has been given to IIT, Bhubaneswar to set up a Centre of Excellence (CoE) on Artificial Intelligence & Virtual Reality,” he said.
Padhi said the centre, which has received contribution from a private philanthropist and STPI, is a unique example of partnership between State Government, Centre and a private philanthropist.
“Odisha is offering the highest benefits and maximum support to the recognised startups and budding entrepreneurs, which is reflected in the fast growing number of startups in the state, which has crossed now 200 mark,” the Chief Secretary said.
Additional Secretary DIPP Atul Charturvedi speaking on the occasion said Odisha represent a very good example of Center - State partnership which has also brought Startup India Jatra to Odisha.

“While, Department of Industrial Policy & Promotion is responsible for driving Startup India initiatives at the central level, it is the states which must build the ecosystem at the ground level,” he said.
Mr.Chartuvedi said in Odisha over the last year incubators are being built as well as scaled up, seed grants have been given out to over two dozen Startups, market exposure opportunities have been extended at National events as well.
ACS MSME LN Gupta stated that ideas received during the yatra are very interesting and if successfully incubated, can make a huge impact on quality of our life.
Some of them are Asthama Relief Shirt, Hybrid Crop Harvester, AR/VR based tourism guide, Eco-friendly pens and pencils, IoT based soil nutrient meter, Brain controlled wheel chair, Smart wearable device for cattle etc, he said and added, all Odisha based incubators namely IIT, Bhubaneswar, STPI, Centurion University, KIIT TBI, NIIST, Berhampur, Sri Sri University, Cuttack happily agreed to offer free incubation to them.
He also shared that two external incubators namely I-Create at Ahmadabad and BIMTEC, New Delhi are also offering incubation offers to 08 selected youth.
As many as 15 innovators, who successfully complete incubation at these institutions will get a seed grant of Rs.50,000 for further development on their ideas, Mr.Gupta said.

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