Naveen Patnaik government in Odisha with an aim to give a major boost to startups has decided to set up a startup hub. The hub, provided with common facilities will be set up by March 2021. The hub aims to create employment opportunities for youth in the state. An official aware of the development said The government has given its in-principle approval to provide financial assistance to five startups and four incubators, said an official aware of the development of Start up hub.
"With the completion of the new startup hub by March 2021, it would be a centre of excellence with co-working space, laboratory and common services under one roof," the official said. The decision for setting up the hub was taken at a State Startup Council Meeting chaired by Chief Secretary AK Tripathy in Odisha on November 13, highlights the report. During the meeting, the state government gave its in- principle approval for providing financial assistance of around Rs 2.88 crore to five startups and four incubators, the official added. Tripathy also directed officials to make a third-party assessment on the outcomes of the financial assistance to these units.
The number of startup ventures have gone up to 774,creating 6,000 employment opportunities. The financial assistance of over Rs 15 crore has been provided to 196 startups and incubators. The chief secretary also asked officials to strengthen the startup eco-system in Odisha through a strategic partnership and policy intervention. "The council recognised the first startup in June 2017. The number has increased to 774, including 250 women-led units, by November 2020," the official said.
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