Government Of Odisha Approved INR 1.28 Crore Grant For 10 Startups to Drive Entrepreneurial Growth
- Startup Odisha Plays Pivotal Role in Identifying and Nurturing Promising Startups
- Selected Startups are from sectors like food and beverages, education, logistics, and dairy
The Government of Odisha approved a grant of INR 1,28,26,000 (Rupees One Crore Twenty-Eight Lakhs Twenty-Six Thousand) to 10 high-potential startups in the state. The grant is aimed at boosting innovation and entrepreneurship in Odisha and supporting the growth of startups in sectors such as Agri-tech, food and beverages, HR-Tech, enterprise technology, retail, education and logistics.
The grant was approved during the 2nd board meeting of Startup Odisha, an initiative backed by the Micro, Small, and Medium Enterprises (MSME) Department of Odisha. The meeting was chaired by Dr. Omkar Rai and participated by Shri Saswat Mishra, Principal Secretary, MSME Department, Government of Odisha among others from Government, industry and academia. This board committee is dedicated to evaluate and approve financial assistance to recognised startups and incubators as well as formulating a comprehensive framework for the startup ecosystem to thrive.
The selected startups will receive the grant in tranches, based on their progress and milestones achieved. The grant will be used to support the startups’ research and development activities, product development & marketing activities, and other operational expenses.
Amongst the selected startups are:
- Axonotics – A Cuttack based IT solutions provider that helps in easily scanning any document in seconds for enabling a decision
- EME Technologies – A delivery app for food and Grocery that has paved it way from Bargarh
- Foliyoo Technologies – Logistic solutions provider for both commercial and individual purposes founded from the capital, Bhubaneswar
- Indersons Services – An enterprise software company based out of Sundergarh
- Happiness Under Budget – A retail company from Khorda
- Lex Protector – An intellectual Property service provider from Khorda
- Sabhyasha Retail Tech – A One Stop Shop For Indian Handicraft Handloom from Khorda
- Zentai Workforce – Integrated AI Driven Logistics Partner from Kalahandi
- Kickstart Careers – An edtech company based out of Khorda
- Manikstu Agro – A Kalahandi based agri-tech company
Dr. Omkar Rai, Executive Chairman, Startup Odisha said, “In our relentless pursuit of fostering innovation and nurturing the entrepreneurial spirit, we are proud to announce this significant grant allocation. These investments in our state’s startups signify our commitment to creating a thriving ecosystem where innovation knows no bounds. Our vision is to build successful startups by providing necessary financial aid, mentorship and guidance that will help them scale and grow”.
This marks another significant advancement in Honourable Chief Minister, Shri Naveen Patnaik’s firm commitment to nurture 5000 startups by 2025, steering Odisha towards its goal of establishing itself as one of India’s top 3 hubs for innovation.
About Startup Odisha
Startup Odisha under the MSME Dept. Govt. 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. With the unique support system under the Odisha Startup Policy 2016, Startup Odisha has supported Women/SC/ST/PH/Transgenders-led startups/ entrepreneurs by providing them with financial grants, subsidized incubation and exposure in participating in various national and international events. 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 as well as 27 incubators. It houses the facilities and services ranging from a world-class infrastructure with state of an art facility called O Hub to the best Incubation facility supported by a proactive team, the aim is to take a leap for registering a minimum of another 5000 startups with recognition by 2025. Startup Odisha has been continuously evolving in its Policy measures, always ensuring to have a responsive policy framework. We have been the top performing Startup Hubs for three consecutive years in the country.
