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  • Odisha aims to be the leading Start-up and Incubator Hub in the country

    Published on December 1, 2022

    • Massive financial support for creation of Fund of Fund(OSGF) of 1200 crores
    • 5 MoUs and 7 Letters of Intent signed at ‘Make in OdishaConclave 2022’
    • Unicorn Founders felicitated by Shri. Pratap Keshari Deb, Minister for MSME, coffee table book and Impact Report released

    Bhubaneswar : ‘Make in Odisha Conclave 2022’, one of the largest investment summits in the country, today began with a plenary session with CXOs and industry leaders. The first day of the conclave witnessed a thematic session hosted by Startup Odisha with the theme ‘Startups’ Paradigm Shift and the road ahead’ that showcased Odisha’s growing startup ecosystem, trends and emerging opportunities in the start-up world. The session touched upon the entrepreneurial culture, economic and business transformation and building of a sustainable and scalable start-up ecosystem. The thematic session was conducted in the presence of Dr. Omkar Rai, Executive Chairman, Startup Odisha, Government of Odisha and Shri. Saswat Mishra, Principal Secretary, MSME Department, Government of Odisha. Veteran Industry leader Padma Bhushan Shri. Ajai Choudhary, Co-Founder, HCL Technologies and Chairman of taskforce for Electronics – MEITY, Chairman of FICCI Startup Committee was the chief guest of the thematic session. Ms. Nivruti Rai, Country Head, INTEL INDIA graced the inaugural session with her presence as Guest of Honor.

    Speaking at the valedictory session of the Thematic Session hosted by Startup Odisha, Shri Pratap Keshari Deb, Minister of MSME said, “Over the years, the State of Odisha has been pioneering pathbreaking policies that have attracted significant innovation and investment in various industry sectors. Our aim is to emerge as the leading start-up hub in the country through strategic partnerships, conducive investment, and favorable policies. Odisha has been recognized as ‘Top Performer’ state in the startup ranking 2021 and this is largely due to the inclusive approach and a conducive startup ecosystem.  Over the last five years, we have built several world-class incubators and have created a large talent-pool of mentors. Today, Odisha has over a thousand successful startups, who are being mentored at around 25 incubators. The Government is keen to boost innovation among young people and has initiated several programs like startup Yatra 2.0 to motivate youngsters to innovate and fulfil their dreams.”

    In his address, Shri. Saswat Mishra, Principal Secretary, MSME Department, Government of Odisha said, “Make in Odisha Conclave 2022, is a unique opportunity to understand Odisha’s policy and regulatory environment, wherein a platform is provided for investors and potential manufacturers. The Government is open to policy change, even a complete overhaul of the existing start-up policy, if required, based upon the suggestions and requirements given by the startup ecosystem. Start-ups can play a huge part in creating job opportunities and in solving day to day problems of the society. Through this conclave we aim to build the State of Odisha as a preferred destination for investment and maximize the technology and innovation potential by boosting the start-up ecosystem. Through Make in Odisha Conclave 2022, we are keen to encourage start-ups not only from the IT sector but other sectors as well to be creative and convert their ideas into tangible products” 

    Speaking about the growing start-up ecosystem in the State, Dr. Omkar Rai, Executive Chairman, Startup Odisha, Government of Odisha said, “Make in Odisha Conclave 2022 is the perfect platform for start-ups to interact with investors, mentors and leaders with Startup Odisha playing the role of an enabler, having set up 25 active incubators and supported 1434 start-ups since 2016 of which, 590 start-ups are led by women. We intend to give additional thrust to the startup ecosystem by granting better incentives to prospective entrepreneurs. A Fund-of-Funds scheme has been promulgated by Startup Odisha under which AIFs of national and global repute participated, thereby provisioning an investment of ₹950 Crores into state-based Startups. AWE Fund, IAN – Alpha Fund, Gujarat Venture Finance Limited, Unicorn India Ventures, Trillium Venture Capital, SEA Fund and PONTAQ Venture Capital are the participants of this scheme for mobilizing the provisioned investment”.

    Shri. Ajai Chowdhry in his address said, “Today, there is a great potential for hardware startups. We have the design capability and we need to combine it with electronic manufacturing to make the most of this opportunity. We are a huge importing country, in terms of electronics and the time has come for us to make bold decisions, and create differentiated products by leveraging our software and hardware capabilities.”

    Smt. Nivruti Rai, in her address said, “Odisha has done very well to achieve what it has achieved today but it cannot move ahead by doing the same things. Three important ingredients of a startup ecosystem are innovation, entrepreneurship and favourable policy and Odisha ticks all those boxes. With the stable state government, policies are sustainable. The state has high spirit of entrepreneurship but needs enhanced innovation.  Innovation can only happen in collaboration and that should be the focus going forward.”

     Madhavan Narayan, former senior editor, Hindustan Times and panelists including Padmaja Ruparel, Founding Partner, IAN, Raj Mishra, Founder, Indea Capital, Shanti Mohan, co-Founder and CEO, Letsventure, Prem Barthsarathy, Managing Partner, PONTAQ, Manoj Kumar Agarwal, Managing Partner, SEAFUND and Anil Joshi, Founder and Managing Partner, UNICORN India deliberated on “Investors outlook on building scalable Innovation”. The unicorn panel discussion was moderated by Dr. Omkar Rai, Executive Chairman, Startup Odisha and panelists included Vishal Chaudhary, Co-Founder, Zetwerk, Amarendra Sahu, Co- Founder, Nestaway, Rahul Dash, Co-Founder, Purplle and Partha Dash, Managing Director, Moglix. Numerous participants, including various businesspersons, Government officials, students etc. took part in the session. The theme was “Entrepreneurship -Essence of New Odisha”.

    The valedictory session of the thematic session witnessed the felicitation of Unicorn Founders by Shri. Pratap Keshari Deb, Minister for MSME , and the launch of an impact report and a coffee table book. A total of 5 MoUs and 7 Letters of Intent were signed during the conclave. Startup Yatra Awards were also distributed at the event. The vote of thanks was delivered by Mr. Debashish Patnaik, President TiE Bhubaneswar.


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