Bhubaneshwar: Chief Minister Naveen Patnaik today inaugurated O-hub, a flagship initiative of the Government of Odisha, to support start-up formation and subsequent scale-up.
The state-supported incubation center is located in Patia Bhubaneswar Special Economic Zone and offers 1,50,000 square feet with state-of-the-art facilities and plug-and-play infrastructure to support start-up activities in the state. This initiative would provide a platform for innovators and entrepreneurs to develop products or services, create formal businesses, and interact with ecosystem stakeholders.
Inaugurating this world-class incubation center, the Chief Minister said that O-Hub will be the first point to identify the best in the sector for the co-creation and development of companies with their new ideas and that it s will act as a conglomerate for business and innovation. . The CM said that now, innovators, mentors, business partners, enablers and ecosystem enablers – all will work under one roof.
The O-hub will facilitate 200 start-ups each year in various sectors such as health, renewable energy, ICT, artificial intelligence, machine learning, augmented reality/virtual reality, internet of things, looms and handicrafts, agro-technology, etc.
Welcoming the creation of more than 1,200 start-ups so far under the Odisha Startup Policy 2016 which have generated 10,000 jobs in the state, the Chief Minister expressed confidence that the state will reach the goal of 5,000 start-ups by 2025. O-hub will be a booster to foster entrepreneurship by providing end-to-end support to a start-up during its start-up journey, he added.
The Chief Minister said that the start-up movement in Odisha is growing every day and Start-up Odisha has been a catalyst for this movement, driving them through energy, enterprise and innovation.
The state has proposed in the new 2021 draft policy to reach young minds in school by adding entrepreneurship as part of the school curriculum, the CM said.
Speaking on the occasion, Minister of MSMEs Dibya Shankar Mishra applauded the state’s initiative towards entrepreneurs and how start-up Odisha has played a pivotal role in nurturing local innovations and helping them become a scalable business.
The state incubation center aims to mobilize seed investment of up to Rs 100 crore per year through venture capitalists, angel networks, HNIs, departments or agencies or units state and central government supply.
Odisha Skill Development Authority Chairman Subrato Bagchi said O-hub is a great platform to celebrate start-ups and provide an ecosystem of investors in the state.
CM Senior Advisor Asit Tripathy explained how O-Hub would bring the start-up community together by providing a platform for entrepreneurs, mentors, investors and academics to interact and collaborate.
Among others, Suresh Mohapatra, Chief Secretary, Pradeep Kr Jena, Development Commissioner; Satybrata Sahu, MSME Principal Secretary participated in the program.
The Chief Minister has also published a book on the start-up Odisha.