In a landmark move set to redefine the landscape of entrepreneurship in Odisha, the Indian Institute of Technology (IIT) Bhubaneswar announced its groundbreaking 100-CUBE Startup initiative, slated for launch on February 11. This transformative endeavor aims to cultivate 100 startups, each with a valuation of Rs 100 crore, by the 100th anniversary of Odisha’s formation in 2036, according to institute director Shreepad Karmalkar.

The initiative represents a concerted effort to galvanize the entrepreneurial spirit within the state and foster a vibrant ecosystem conducive to innovation and growth. Karmalkar underscored the pivotal role of IIT Bhubaneswar’s research and entrepreneurship park in providing essential resources, mentorship, seed capital, and access to potential investors to realize this ambitious vision.

With unwavering support from the Ministry of Education, the park is poised to undergo significant expansion, increasing its footprint from 20,000 square feet to approximately 80,000 square feet over the next two years. This expansion underscores the government’s commitment to nurturing and empowering the startup ecosystem in Odisha and propelling it onto the national stage.

The 100-CUBE Startup initiative is in alignment with the mandate of the National Education Policy (NEP) 2020, which underscores the importance of fostering entrepreneurship and supporting startup incubation as integral components of India’s educational landscape. Karmalkar emphasized that the next 25 years will be driven by startups, building upon India’s remarkable ascent in the global innovation rank from 76 in 2014 to 40 in 2023.

The event scheduled for February 11 will serve as a catalyst for collaboration and knowledge exchange, featuring parallel technical workshops for faculty and startups. These workshops, facilitated by esteemed heads of research parks from various IITs, industrialists, and venture capitalists, will provide invaluable insights and guidance to aspiring entrepreneurs.

Additionally, the event will witness the signing of Memorandums of Understanding (MoUs) with nearly 20 industries, 30 startups, and 30 venture capitalists, laying the groundwork for strategic partnerships and collaborations aimed at realizing the 100-CUBE objective.

Union Minister Dharmendra Pradhan is slated to inaugurate the 1500-seat auditorium hosting the event and lay the e-foundation for infrastructure projects worth Rs 450 crore. These developments underscore the government’s unwavering commitment to fostering a culture of innovation, entrepreneurship, and economic growth in Odisha and beyond.

In conclusion, the 100-CUBE Startup initiative heralds a new era of innovation and opportunity for IIT Bhubaneswar and the state of Odisha. By nurturing and empowering startups across gender, sector, and geography, the initiative seeks to propel Odisha to the forefront of India’s entrepreneurial landscape and establish it as a beacon of innovation and excellence on the global stage.

By Admin

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