Odisha Government has sanctioned financial assistance of Rs 38 lakh to nine startups of the State. The Task Force of 'Startup Odisha' has sanctioned product development and marketing assistance of Rs 28 lakh to five startups in the State, while four startups receive Rs 10 lakhs as ‘Monthly Assistance’.

Chaired by ACS LN Gupta, the Task Force sanctioned Rs 28 lakhs to -- Phoenix Robotix, working in the area of IoT and Smart Sensors, Orbonix Labs (Health-tech), Iservu Technology, a Fin-Tech Startup and Inksand Art and Crafts India (handicrafts) and Santan Fertility Centre and Research Institute (Healthcare).

The Task Force also sanctioned monthly assistance of total Rs10 lakh in favour of four startups namely -- Inhof Technologies, Basal Initiatives, Krushaco Services and Sarala Powertech Consulting Engineers LLP. Notably, Basal Initiatives were led by women entrepreneurs. With these benefits, the number of startups getting financial benefits has 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, Brahmapur.

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.

Odisha, which launched its Startup Policy in August 2016, has inaugurated "STPI ELITE", a new incubation centre for electronics and IT startups in Orissa state, in August this year.

Source - Orissa Diary

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