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Sandeep Pattnaik, AP Bureau:

Bhubaneswar, 13th Dec 2019: Odisha has achieved an increase of 84 percent in launching of Startups during the year 2017-18 in comparison to 2015-16. The state has surpassed the National average growth of around 62% during the same period.

“Steps are afoot to attract more private venture capitals (VCs) for Odisha Startups that would provide easy access in getting fund by the startups”, Chief Secretary Sri Asit Tripathy said during a discussion on Friday here.

“So far 500 startups have been registered from among which 57% have been incorporated during and after the year 2017”, Industry Secretary Hemant Kumar Sharma said during the discussion. Among the incorporated units around 150 are led by women which are around 30% of the total. Presently, 13 Incubator Centers are operating in Odisha including IIT Bhubaneswar, NIST, NIIT, KIIT, Rabi Sankar University etc.

Odisha Startup Policy has set the target to launch 1000 startups by end of March, 2021. A total amount of Rs.100 crore is to be committed to ‘State Startup Fund’ over a period of three to five years as per requirement, as decided during the meeting. It was resolved to mobilize effective venture funds from private and corporate sector for constituting ‘Fund of Funds’ for Startups in Odisha.

December 17, 2019 • No Comment