Bhubaneswar: Chief Minister Naveen Patnaik inaugurated Odisha Startup Yatra and Startup Xpress 2023 in the city today. The programme aims at encouraging grassroots innovators and promoting entrepreneurship among them to achieve 5000 start-ups by 2025.
According to an official press release, this edition of the initiatives is 2.5 times bigger than the past and will witness incremental growth connecting more than 25,000 students from over 260 institutions with an aim of generating more than 3500 ideas to foster innovation and entrepreneurship. To ensure maximum coverage and efficiency, Startup Odisha will have 4 dedicated vans covering all the 30 districts with different
Secretary to CM (5T) VK Pandian was present on the occasion.
Minister Pratap Keshari Deb, MSME Principal Secretary Saswat Mishra and Director Dr Omkar Rai attended the function
Fifty shortlisted ideas from Startup Yatra will be invited for a 3-day Acceleration programme. Thereafter, top 25 Ideas will be invited to O-Hub for the demo day out of which 10 will be awarded seed funding worth Rs 3 lakh each to develop their ideas into viable startup ventures.
Additionally, top 20 ideas from Startup Xpress 2023 will be invited for final pitching out of which 10 ideas will be awarded with cash prize of Rs 10,000 each to encourage these young students and build their entrepreneurial spirit.
Young entrepreneurs will be the force behind the future economic growth and development in Odisha, ushering in an era of innovation and prosperity for the state.
It may be mentioned here that Startup Odisha under the MSME Department, Government of Odisha as the Nodal agency for building the startup and innovation ecosystem in the state, came into existence in 2016 with Odisha Startup Policy-2016. The vision is to introduce a holistic and inclusive ecosystem for the existing and aspiring startups, establish itself as one of the top startup hubs in the country, and enable the youth of Odisha to become Job-Creators and support the state in employment generation.
Since its inception, Startup Odisha has been home to the best entrepreneurial minds & has already supported and facilitated more than 1700+ Startups, with 600+ startups led by women directors, founders and co-founders.
Startup Odisha has been continuously evolving in its Policy measures, always ensuring to have a responsive policy framework. Odisha been the top performing Startup Hubs for three consecutive years in the country.
Startup Odisha provides various benefits to recognised startups like monthly allowances, product development and marketing/ publicity assistance, need based assistance, subsidised Incubation and financial support for participation in national and international events.
Overview of Startup Odisha Ecosystem
- 1700+ Recognised Startups
- 600+ Women Lead Startups
- 4 Lakh Sq. Ft O-Hub Incubation Centre for Startups
- 27 Incubators
- 15 Nodal Agencies
- 200+ Mentors
- 75+ E Cells
- 15 R&D Centres
- 15,000+ Jobs Generated
- 350.42 Crore Revenue Generated by Startups in FY: 2021 – 22
- 100 Crore Odisha Startup Growth Fund for Startups
- 21 Crore monetary benefits sanctioned to startups
- 357 Crore external investment raised by startups
In recent years, Odisha has embarked on a remarkable journey towards achieving socio-economic empowerment. This transformation is underpinned by strategic investments in diverse sectors, including education, health, infrastructure, industries and sport. Marking a promising chapter in its on-going development, the state is steadfastly working towards building a conducive startup ecosystem and these initiatives are testament to it.
