Government of Odisha approves innovation grant, to fund 10 startups
The grant was sanctioned during the 2nd board meeting of Startup Odisha (an initiative backed by MSME, Odisha) chaired by Omkar Rai, Chairman of Startup Odisha, and witnessed the participation of Saswat Mishra, Principal Secretary of the MSME Department, Government of Odisha, alongside representatives from government bodies, industry, and academia.
According to a statement, Startup Odisha's board committee evaluates and endorses financial support for recognized startups and incubators while formulating a comprehensive framework for nurturing the state's startup ecosystem.
The 10 selected startups include Axonotics, EME Technologies, Foliyoo Technologies, Indersons Services, Happiness Under Budget, Lex Protector, Sabhyasha Retail Tech, Zentai Workforce, Kickstart Careers, and Manikstu Agro. These vary across categories such as Agri-tech, food and beverages, HR-Tech, enterprise technology, retail, education, and logistics.They will receive the grant in phases, contingent upon their progress and achievement of milestones.
These funds are set aside to bolster research and development endeavors, fuel product development and marketing initiatives, and cover other operational expenses. «In our relentless pursuit of fostering innovation and nurturing the entrepreneurial spirit, we are proud to announce this significant grant allocation.
These investments in our state's startups signify our commitment to creating a thriving ecosystem where innovation knows no bounds. Our vision is to build successful startups by providing necessary financial aid, mentorship, and guidance that will help them scale and grow,» said Rai in a statement.
This step reinforces the commitment of the Chief Minister Naveen Patnaik to nurture 5000 startups
