Bhubaneswar Buzz

Startup policy in works for Odisha based entrepreneurs

entering startup

Odisha government is planning to formulate a state specific start-up Policy by March 2016. Odisha government has made an arrangement with the TiE Silicon Valley to mentor two entrepreneurs quarterly.

Salient features of policy are :

  • The objective of the draft policy suggested by TiE bhubaneswar includes to attract Rs 1,000 crore in investments into the incubation and start-up ecosystem.
  • It has suggested to provide Rs 250 crore for youth entrepreneurship activities for the next five years or earmark one per cent of the annual state budget.
  • The draft policy targets also include to establish at least 20 technology business incubators and accelerators in each of the different sectors in the state to encourage at least 1,000 technology product startups, develop 0.5 million square feet (sq ft) of incubation space, facilitate venture capital funding of a minimum of Rs 1000 crore, setting up of facilitation centre in each district and single window clearance facility, among others.

Reference article from Business Standard