Odisha tops in national startup ranking

| | BHUBANESWAR
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Odisha tops in national startup ranking

Saturday, 14 December 2019 | PNS | BHUBANESWAR

Adding another success feather to the “Make in Odisha” movement, the State has been ranked as top performer in Startup Ranking at the national level during 2018.

The launching of Startups in the State during 2017-18 was increased by 84% over the year 2015-16 against the national growth of around 62% during the same period.

This was revealed at a meeting held under the chairmanship of Chief Secretary Asit Tripathy in the  Lok Seva Bhawan on Friday wherein Industry Secretary Hemant Sharma outlined issues for discussion.

Tripathy directed the department to examine the possibility institutionalising the “the Fund of Funds” model as State Startup Fund. It was considered that the “Fund of Funds” model would be more helpful and easy to access for Odisha based startups.

Sharma said that so far 500 startups have been registered from among which 57% have been incorporated during and after the year 2017. Among the incorporated units around 150 are led by women which constitute 30 per cent of the total. Presently, 13 Incubator Centers are operating in Odisha including IIT Bhubaneswar, NIST, NIIT, KIIT, Rabi Sankar University etc.  The Odisha Startup Policy has set a target to launch 1,000 startups by March-end, 202. Sharma further appraised that Odisha has ranked Top Performer in States Startup Ranking 2018 by Department for Promotion of Industry and International Trade, Government of India.

The meeting resolved to commit a total amount of Rs 100 crore for allocation to State Startup Fund over a period of three to five years as per requirement.

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