Boosting Startups: MCL's Commitment to Innovation in Odisha

Mahanadi Coalfields Limited has signed an MoU with Foundation for Technology Business Incubator to support startups in Odisha. With Rs 4.65 crore investment, the initiative will support around 30 startups through funding and resources, with a special focus on empowering women entrepreneurs.

Mahanadi Coalfields Limited (MCL) has officially partnered with the Foundation for Technology Business Incubator (FTBI) at the National Institute of Technology, Rourkela. This collaboration aims to bolster the startup ecosystem in Odisha by investing Rs 4.65 crore over the next three years.

The funding, part of MCL's Corporate Social Responsibility initiative, is intended to nurture around 30 startups in Odisha, providing essential resources such as seed funding, skill training, and office equipment, along with research and development labs.

An emphasis on empowering women entrepreneurs forms a core component of the project. Workshops and seminars will be conducted to equip women with the necessary skills and networks to become successful in the competitive world of startups.

(With inputs from agencies.)