OdishaPlus Bureau 

  • 5MoUs and 6LoIs signed in his presence; 69 Start-ups and 2 Incubators Awarded Monetary Benefit; 18 start-ups with external investment support felicitated
  • 2 Institutions Awarded Best Boot Camp; 4 Unicorn Founders Felicitated

In a grand finale to the Startup Odisha Yatra 2.0, organised by Startup Odisha, 11 of the best ideas of the Yatra were felicitated by Pratap Keshari Deb, Minister for MSME, Government of Odisha during the valedictory session of the Thematic Session hosted by Startup Odisha at the ‘Make In Odisha Conclave 2022’.

Students were felicitated with a cash prize of Rs 1 lakh each. They will also receive mentoring and incubation support, legal and compliance support and will qualify the Startup Odisha’s acceleration programme.

Speaking at the valedictory session, Deb said, “In our effort to enhance and bolster the start-up ecosystem in the state, Startup Odisha has made inroads with several partner organisations and industry bodies for funding, mentorship, and investment. We have signed a total of 5MoUs and 6LoIs for the development of the start-up ecosystem. Through this, we aim to achieve a holistic network that will support the growth of start-ups and encourage youngsters to ideate and innovate. We want youth from across the state to become job creators and contribute to the economic development of the State. Till date, we have given out grants worth Rs 4,61,90, 000 to deserving start-ups in the state. Start-ups in the state have received Rs. 351 crore investment during the current year”

“Startup Yatra 2.0 was conceptualised so as to search for entrepreneurial talent and grow the start-up ecosystem of the State from the institutional level itself. Startup Odisha Yatra 2.0 is a unique program wherein we reached out to students in their own colleges and sensitize them about the growing start-up ecosystem of the State. It is the brainchild of Startup Odisha that encourages students to pitch innovative ideas in varied fields like 3D printing, healthcare apps, agri-tech apps etc. One of the primary focus areas of Startup Odisha is to grow the start-up ecosystem of the State to around 5000 by 2025 and reaching out to students at the institutional level is one of the ways we intend to achieve that goal.” said Omkar Rai, Executive Chairman, Startup Odisha.

Since its flagging off by Chief Minister Naveen Patnaik in August 2022, Startup Odisha Yatra 2.0 has covered 30 districts in the State, reaching out to students in over 100 colleges. Over 40 day-long bootcamps were organised and 1500 plus ideas were pitched. Bootcamps at each college included presentations on Startup Odisha and State Startup policies followed by an extensive ideation workshop where students pitched their ideas.

A total of five MoUs were signed including an MOU with Headstart for development of the State’s Startup Ecosystem; MOU with SBI for Credit Linkage to Odisha Start-ups, MOU with Campus Fund for support to Student led Start-ups in Odisha, MOU with Fluid Ventures as Investment Partner, MOU with National Law University to extend Legal Assistance to Odisha Start-ups.

Six letters of intent (LoI) were also issued during the program. LoIs included an LoI to AWE Fund for extending support towards investment in Start-ups, LoI to IAN Alpha Fund for extending support towards investment in Start-ups, LoI to Unicorn India Ventures for extending support towards investment in Start-ups, LoI to Gujarat Venture Finance Limited for extending support towards investment in Start-ups, LoI to SEA Fund for extending support towards investment in Start-ups and LoI to PONTAQ for extending support towards investment in Start-ups.

During the valedictory session, Start-up Odisha felicitated 69 start-ups and 2 incubators who received monetary assistance from Startup Odisha, and also felicitated 18 start-ups who attracted external funding. Two institutions, namely Jharsuguda Engineering School and GIET Gunupur were awarded for Best Boot Camps. Four unicorn founders were also felicitated.

Tags: #StartupEcosystem #MSMEDepartment #StartupOdishaYatra #StartupOdisha #MIO2022 #MakeInOdishaConclave #MIOConclave2022