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Odisha to set up start-up hub by March next year

PTI Bhubaneswar | Updated on November 16, 2020 Published on November 16, 2020

The Odisha government has decided to set up a start-up hub with common facilities by March next year to create employment opportunities for youth in the State, an official said on Sunday.

The government has also given its in-principle approval to provide financial assistance to five startups and four incubators, he said.

“With the completion of the new start-up hub by March 2021, it would be a centre of excellence with co-working space, laboratory and common services under one roof,” the official said.

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The decision for setting up the hub was taken at a State Startup Council Meeting chaired by Chief Secretary AK Tripathy here on November 13.

During the meeting, the State government gave its in- principle approval for providing financial assistance of around ₹2.88 crore to five start-ups and four incubators, he said.

Tripathy also directed officials to make a third-party assessment on the outcomes of the financial assistance to these units.

The chief secretary also asked them to strengthen the start-up ecosystem in Odisha through a strategic partnership and policy intervention.

The number of start-up ventures in Odisha has gone up to 774, which created 6,000 employment opportunities.

“The Council recognised the first start-up in June 2017. The number has increased to 774, including 250 women-led units, by November 2020,” the official said.

Financial assistance of over ₹15 crore has been provided to 196 start-ups and incubators, he added.

ALSO READ: Gujarat, Andaman & Nicobar have best start-up ecosystems

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Published on November 16, 2020
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