Odisha to set up startup hub by March next year

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 Rs 2.88 crore to five startups and four incubators, he said.

The Odisha government has decided to set up a startup 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 startup 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. 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 Rs 2.88 crore to five startups 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 startup eco-system in Odisha through a strategic partnership and policy intervention. The number of startup ventures in Odisha has gone up to 774, which created 6,000 employment opportunities.

"The council recognised the first startup in June 2017. The number has increased to 774, including 250 women-led units, by November 2020," the official said. Financial assistance of over Rs 15 crore has been provided to 196 startups and incubators, he added.

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