Odisha govt sanctions Rs 38 lakh aid to nine Startups

Bhubaneswar: The Startup Odisha’s task force on Friday sanctioned Product Development & Marketing Assistance of Rs 38 lakh to nine Startups.

The financial assistance was sanctioned at the 11th meeting of the Task Force of Startup Odisha, which met today under the chairmanship of LN Gupta, ACS, MSME.

A total Product Development & Marketing Assistance of Rs 28 lakhs was sanctioned to five Startups namely, M/s. Phoenix Robotix Pvt. Ltd., working in the area of IoT and Smart Sensors, M/s Orbonix Labs Pvt Ltd (Health-tech), M/s Iservu Technology Pvt Ltd a Fin-Tech Startup and M/s Inksand Art and Crafts India Pvt Ltd working in the field of Handicrafts and Santan Fertility Centre and Research Institute Pvt. Ltd. (Healthcare).

Similarly, the Task Force sanctioned ‘Monthly Assistance’ of total Rs 10 lakhs in favour of four Startups namely, Inhof Technologies Pvt Ltd, Basal Initiatives Pvt Ltd, Krushaco Services Pvt Ltd and Sarala Powertech Consulting Engineers LLP. It is noteworthy that one of these startups i.e. Basal Initiatives Pvt Ltdwere led by women entrepreneurs. With these benefits, the number of financial benefits extended to startup have gone up to 61.

The Task Force also accorded recognition to two new incubators namely, CTTC- Innovation and Incubation Centre, Bhubaneswar and Incuvations Foundation, NIST, Behrampur. With these, the number of incubators approved under the Startup Odisha has gone up to 11 having total incubation space of more than 4.2 lakh square feet.

The Task Force also decided that the Startup Odisha Yatra 2.0 will be launched in the 1st week of February, 2019 with a view to scout grassroots innovation over 50 institutions across 15 districts. Around 10 boot camps will be organized at various professional institutions to identify innovators. The Task Force also placed on record its appreciation for the recognition of the state as TOP PERFORMER by the DIPP, Govt. of India for developing the strong startup ecosystem.


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