Odisha Government Grants INR 1.28 Crore to Boost 10 Promising Startups
In a bid to boost innovation and entrepreneurship in Odisha, the Government of Odisha has approved a grant of INR 1,28,26,000 to 10 high-potential startups in the state.
Through this grant, the Odisha government aims to support the growth of startups in sectors such as agritech, food and beverages, HR-tech, enterprise technology, retail, education, and logistics.
Startup Odisha Initiative
During Startup Odisha’s second board meeting, which is supported by Odisha’s MSME Department, this grant was approved. Dr. Omkar Rai led the event, and Saswat Mishra, the Principal Secretary of the MSME Department, was among the attendees, along with other government, industry, and academic representatives.
Speaking about the development, Dr. Omkar Rai, Executive Chairman of Startup Odisha, while highlighting their vision to build successful startups by providing necessary financial aid, mentorship and guidance, 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.”
Startups Set for R&D and Marketing Boost
All the selected 10 startups, based on their progress and milestones achieved, will receive this grant in tranches. Also, the grant will support the startups’ in their research and development activities, product development and marketing activities, and other operational expenses.
Here is the list of 10 selected startups:
- Axonotics – A Cuttack-based IT solutions provider that helps in easily scanning any document in seconds to enable a decision
- EME Technologies – A delivery app for food and Grocery based out of Bargarh
- Foliyoo Technologies – Bhubaneswar-based Logistic solutions provider for both commercial and individual purposes
- Happiness Under Budget – A retail company from Khorda
- Indersons Services – An enterprise software company based out of Sundergarh
- Kickstart Careers – A Khorda-based edtech firm
- Lex Protector – An Intellectual Property (IP) service provider from Khorda
- Manikstu Agro – An agri-tech company based out of Kalahandi
- Sabhyasha Retail Tech – A one Stop Shop For Indian Handicraft Handloom from Khorda
- Zentai Workforce – Integrated AI-Driven Logistics Partner from Kalahandi
This initiative, along with the board committee, is dedicated to evaluating and approving financial assistance for recognized startups and incubators in the state. Additionally, through this initiative, the board committee is committed to formulating a comprehensive framework for the startup ecosystem to thrive. The grant also highlights Chief Minister Naveen Patnaik’s commitment to nurturing 5000 startups by 2025 and making Odisha one of India’s top three innovation hubs.
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