30th September, 2020
Startup India Related News

80 new Odisha startups receive startup recognition in 2 months

Promising to emerge as the next startup hub of India, the Odisha government has recognized as many as 80 new startups operating in diverse fields during the last two months under its Startup Odisha Initiative (SOI). Besides, 32 more applications are under process to be granted startup recognition. The information was revealed on 4th August 2017 during a meeting of the Task Force under the Chairmanship of LN Gupta, Additional Chief Secretary of MSME.

Monthly allowance for 8 startups

The Task Force has also disclosed that 8 of the recognized startups have been offered a monthly allowance grant of Rs. 20,000 to develop their innovative products and services. Of these, three are women led startups viz. DD Bio Solution Technology Pvt. Ltd., Krea Foods and Beverages Pvt. Ltd. and Prantae Solutions Pvt. Ltd..

  • Of these, Phoenix Robotix with a team of 23 employees is developing technologies based on the Internet of Things (IoT) and Wireless Sensor Network for greater web connectivity among cities, industries, organizations, the government and the general public.
  • Boasting of more than 75 employees, Maiestas Group is dedicated to innovating cutting-edge technologies for lighting, environment safety, electronics industry, food and chemical process industries among many more manufacturing segments.

Priority status for recognized startups in land allotment

Of the other initiatives, the Task Force also recommended IDCO to give priority to the recognized startups in matters of land allotment. Besides, mentorship support will be provided to applicant startups at IIT-Bhubaneswar, KIIT-Technology Business Incubator and IoT Centre of Excellence, NASSCOM (Delhi).

Odisha`s startup journey so far

  • The Odisha government had announced its startup policy in August 2016 with the aim of establishing 1000 startups with a State Capital fund of Rs. 25 Crore to support the development of the State’s startup ecosystem.
  • During an Investor’s meet in late August last year, Odisha CM Naveen Patnaik lobbied with 66 companies and received an investment commitment to the tune of Rs. 90,490 Crore as state investments for improving the entrepreneurial ecosystem.
  • As on June 2017, 225 startups and 24 incubators have been identified.
  • Earlier on March 2017, the state launched the Startup Odisha Toll-Free Helpline (1800-345-7100) to provide a platform for startup stakeholders to voice their grievances and queries related to startups.
  • Meanwhile, the State’s MSME department signed an MoU with Invest India to facilitate knowledge exchange, funding access and networking with the global startup ecosystem.
  • Recently, in May 2017, the State also launched a web portal for startups aimed at promoting ease of doing business for emerging entrepreneurs and creating an interlinked ecosystem for startups in the state.