India’s First 3D Chip Packaging Unit Launched in Odisha, Marking a Semiconductor Breakthrough

India has laid the foundation stone for its first advanced 3D chip packaging unit at Info Valley, Bhubaneswar, marking a historic leap in the country’s semiconductor ambitions and positioning Odisha as a future-ready technology hub.

Key Highlights of the Project

• Location: Info Valley, Bhubaneswar, Odisha
• Investment: ₹1,943.53 crore (₹799 crore central support + ₹399.5 crore state support)
• Promoter: 3D Glass Solutions Inc. (USA) via Heterogeneous Integration Packaging Solutions Pvt. Ltd.
• Production Capacity: 70,000 glass panels annually, 50 million assembled units, 13,000 advanced 3DHI modules
• Timeline: Commercial production by August 2028, full-scale operations by August 2030

Strategic Importance

• National Milestone: First 3D glass substrate packaging facility in India, reducing dependence on imports
• Odisha’s Role: Already home to India’s first compound semiconductor fabrication unit
• Global Context: Linked to technologies from Intel, Lockheed Martin, and Applied Materials
• Sectoral Impact: Products will power AI, high-performance computing, defence electronics, telecommunications, aerospace, and photonics

Leaders’ Statements

• CM Mohan Charan Majhi: Called it a “historic milestone” for Odisha and India
• Union Minister Ashwini Vaishnaw: Highlighted India’s rapid growth in electronics manufacturing; India is now the world’s second-largest mobile phone manufacturer
• State IT Minister Dr. Mukesh Mahaling: Emphasized Odisha’s IT, AI, GCC and Semiconductor Policies 2025 and skill development initiatives

Comparative Context

Factor	Odisha Project	India’s Semiconductor Mission
Investment	₹1,943 crore	Multiple projects across states
Technology	3D glass substrate packaging	Fab units, ATMP facilities
Output	70,000 panels, 50M units	Varies by project
Global Links	3D Glass Solutions (USA)	Intel, Micron, Vedanta partnerships
Timeline	2028–2030	Staggered across 2026–2032

Why It Matters

• Boosts Atmanirbhar Bharat: Strengthens India’s domestic semiconductor ecosystem
• Employment: Thousands of jobs for engineers, diploma holders, and ITI graduates
• Odisha’s Transformation: From resource-based economy to technology-led growth centre
• Global Demand: Bookings for plant output already in place

This project cements Odisha’s place in India’s semiconductor roadmap, aligning with the national vision of self-reliance in high-end electronics manufacturing.

Union Minister Shri Ashwini Vaishnaw congratulated the people of Odisha on the landmark initiative and appreciated the support extended by the State Government.

Highlighting the country’s progress in electronics manufacturing, Shri Vaishnaw said production in the sector has grown six-fold over the past 12 years. “India has now become the world’s second-largest mobile phone manufacturer and emerged as the leading exporter of mobile phones in 2025”, he added.

He further informed that two semiconductor projects have already been approved for Odisha under the India Semiconductor Mission, while three more electronics and semiconductor-related proposals are in the pipeline. “Discussions are also underway with major global companies, including Intel for future investments in the state,” he mentioned.

Adani Enterprises to Build ₹84,000 Crore Coal-to-Chemicals Plant on Former UMPP Land in Odisha

Adani Enterprises Ltd (AEL) has announced plans to establish a massive coal-to-chemicals complex in Odisha’s Sundargarh district, repurposing land originally acquired for the now-abandoned Bhedabahal Ultra Mega Power Project (UMPP), reported The New Indian Express, which published details early on March 15, 2026. Business Standard reported the same later the same day with its own coverage.

The ₹84,000 crore project will be developed through OD Syn-Gas & Chemicals Limited (OSGCL), a step-down subsidiary of AEL.

Project Overview

The upcoming facility will be spread across 3,047 acres in Bhedabahal, Sadar block, Sundargarh. The land was initially earmarked for a 4,000 MW UMPP, which was later scrapped. With approval from Odisha’s High Level Clearance Authority (HLCA), Adani is set to transform the site into one of India’s largest coal-to-chemicals hubs.

• The plant will convert coal into high-value chemicals such as methanol, syngas, and downstream derivatives.
• It aims to reduce India’s reliance on crude oil imports.
• Supports industrial diversification in Odisha.

Economic and Strategic Significance

• Investment: ₹84,000 crore (approx. $10 billion)
• Employment: Thousands of direct and indirect jobs expected
• Industrial Impact: Strengthening Odisha’s position as a hub for energy-intensive industries
• National Strategy: Aligns with India’s push to explore coal-to-chemicals as an alternative energy pathway

Balancing Benefits and Challenges

• Economic Growth: Significant boost to regional development
• Environmental Concerns: Coal-based chemical production is carbon-intensive
• Technology Needs: Carbon capture solutions will be critical
• Community Impact: Land repurposing may raise local concerns

Broader Context

India has been actively exploring coal-to-chemicals projects to diversify its energy mix. Odisha, with its abundant coal reserves and industrial infrastructure, is emerging as a key destination for such ventures. Adani’s pivot from traditional coal power generation to chemical production reflects a strategic shift toward value-added resource utilization, in line with global trends.

IG Defence Secures ₹300 Cr Approval for Advanced Multi-Drone Manufacturing Hub in Odisha’s Ganjam District

• One of the largest private drone manufacturing investments approved in Odisha
• Facility to manufacture tactical, EW-enabled and mission-specific unmanned systems
• Leverages proximity to DRDO labs, HAL, Ordnance Factory and AD Gopalpur test range
• Comes at a time when IG Defence has received orders for 5,000+ FPV kamikaze striker drones from defence forces

IG Defence, one of India’s leading indigenous defence technology companies, has received approval from the Government of Odisha to establish a ₹300 crore advanced multi-drone manufacturing centre in Ganjam district. The project was cleared by the 144th State Level Single Window Clearance Authority (SLSWCA), chaired by Chief Secretary Anu Garg, as part of a broader set of industrial approvals aimed at strengthening the state’s manufacturing and strategic industrial base.

The facility will focus on the manufacturing of advanced unmanned aerial systems and related defence technologies, including high-performance tactical and mission-specific drone platforms. Leveraging Odisha’s established defence ecosystem—including DRDO laboratories, HAL facilities, the Ordnance Factory network, and the AD Gopalpur test range the facility will support the development of indigenous electronic warfare–enabled unmanned systems and other mission-critical defence capabilities. These systems will strengthen India’s safety, security, and national sovereignty, while also being positioned for export to India’s friendly partner nations. The project marks a significant step in expanding domestic aerospace and defence manufacturing capacity in line with national self-reliance objectives.

The approval places IG Defence among the key contributors to Odisha’s growing aerospace and defence manufacturing ecosystem. By establishing operations in the state, the company supports Odisha’s vision for balanced regional industrial development while leveraging emerging infrastructure and strengthening participation in high-technology manufacturing. In line with the Hon’ble Prime Minister’s Purvodaya Mission and the Government of Odisha’s vision for a Viksit Odisha, the project is expected to be a transformative addition to the state’s strategic manufacturing landscape.

As an IP-led defence technology company, IG Defence has built a strong reputation for systems designed for real operational environments. Its drone and counter-drone platforms have been validated through field deployments, including during Operation Sindoor, and several patented platforms have already been inducted by the Indian Army and Indian Navy. The company continues to translate in-house research and development into mission-ready solutions supported by a steadily expanding manufacturing footprint across India.

Recently, IG Defence has received orders exceeding 5,000 FPV kamikaze striker drones from multiple defence forces, reflecting growing operational confidence in its combat-proven unmanned systems. These include defence explosive–integrated platforms and kamikaze FPV explosive configurations designed for precision strike and other mission-critical applications, underscoring IG Defence’s evolution into a trusted indigenous supplier of frontline unmanned combat technologies.

The new Odisha facility will further strengthen IG Defence’s national production network and support the scaling of reliable, Made-in-India unmanned systems to meet the evolving operational requirements of India’s armed forces, while enabling compliant exports that support regional security partnerships.

Speaking on the approval, Maj Gen R C Padhi,Senior Vice President, IG Defence “This approval from the Government of Odisha reinforces the trust placed in IG Defence within India’s defence manufacturing ecosystem. The facility is a strategic step towards strengthening indigenous production and ensuring assured, scalable supply of mission-critical systems. It reflects our long-term commitment to building defence infrastructure that supports real operational requirements of the armed forces.”

With the Odisha government approving ₹4,111.80 crore worth of industrial investments in this round, the state continues to strengthen its position as a destination for next-generation manufacturing. IG Defence’s investment adds momentum to Odisha’s aerospace and defence ecosystem and supports India’s broader objective of building a resilient, self-reliant defence manufacturing base under the Make in India and Atmanirbhar Bharat initiatives.

Transforming Agri-Markets: Odisha Unveils ₹300-Cr Plan with 38 Smart Mandis

Odisha is embarking on a transformative ₹300-crore initiative to modernize its agricultural marketing infrastructure by developing 38 'Model Mandis' across all 30 districts in the first phase. Here's a detailed breakdown of the plan:

Key Objectives

• Create an efficient, transparent, and farmer-friendly agri-marketing ecosystem.
• Provide integrated infrastructure for farmers, traders, and stakeholders.
• Enable direct market linkages to help farmers secure better prices.

Implementation Details

Phase	Mandis Developed	Funding Sources	Timeline
First Phase	38 Model Mandis (14 large, 17 medium, 7 small)	₹150 Cr from RMCs + ₹150 Cr from State Plan	2025–2027
Second Phase	62 additional mandis (site identification underway)	To be announced	Post-2027

• ₹50 crore allocated by the Cooperation Department for FY 2025–26.
• Executing agency: Odisha Bridge and Construction Corporation (OBCC).
• Monitoring: Odisha State Agricultural Marketing Board (OSAM Board).

Infrastructure Highlights

• Modern storage and drying platforms
• Covered sheds and cooling chambers
• Quality testing kiosks
• Farmers’ rest areas and women-friendly amenities
• Toilets, canteens, vending zones
• Bank branches, ATMs, and parking
• Electronic weighbridges
• Retail outlets for agri-inputs
• Waste disposal systems
• Eateries and vending zones operated by women SHGs
• Raised concrete drying platforms

Localized Design 

• Mandis will be tailored to the scale and type of marketing operations in each locality.
• Focus on paddy and other agricultural produce, with infrastructure designed to meet specific regional needs.

Expected Impact

• Streamlined paddy procurement and reduced farmer grievances.
• Enhanced transparency and efficiency in agricultural trade.
• Boosted income opportunities for farmers through better market access.

Breakthrough at Kalinganagar: Tata Steel Rolls Out First Galvanised Coils from State-of-the-Art CGL-1

Tata Steel Kalinganagar has successfully rolled out its first batch of galvanised coils from the plant’s new state-of-the-art Continuous Galvanising Line (CGL-1) at the Cold Rolling Mill complex.

The batch was flagged off by Karamveer Singh, General Manager (Operations), Tata Steel Kalinganagar, in the presence of Rabindra Kumar Jamuda, President, Tata Steel Kalinganagar Worker’s Union, along with other senior officials.

Tata Steel Dispatches the First Batch of Galvanised Coils from its New Continuous Galvanising Line in Kalinganagar, Odisha

This milestone marks a significant step in Tata Steel’s capabilities, particularly for the automotive and appliances sector. The advanced Continuous Galvanising Line technology incorporates a third-generation air-knife with magnetic stabiliser, an oxidation chamber, and best-in-class secondary coatings. These features enable the production of high-quality automotive steel, including coated Advanced High Strength Steels (AHSS), ensuring exceptional consistency and reliability.

Prabhat Kumar, Vice President - Marketing & Sales (Flat Products), Tata Steel, said: “The new Continuous Galvanising Line (CGL-1) at Kalinganagar has been engineered to produce advanced coated products with superior surface finish, formability, and corrosion resistance - specifically outlined to meet the stringent quality requirements of the automotive and appliance sectors. This state-of-the-art line has been designed with a forward-looking approach, tailored specifically to meet the evolving needs of our discerning customers. With advanced technology and sustainable practices at its core, the facility reinforces Tata Steel’s position as a trusted partner for the future of mobility.”

Last year, Tata Steel had successfully commissioned India’s largest blast furnace at Kalinganagar, Odisha. With a total investment of Rs 27,000 crore, the Phase II expansion at Kalinganagar has augmented the total capacity at the site from 3 million tonnes per annum (MTPA) to 8 MTPA. The CGL-1, part of the Cold Rolling Mill, is an integral part of the Phase II expansion alongside other facilities including Pellet Plant and Coke Plant – each incorporating advanced technologies and sustainable practices.

Being one of India’s most modern and advanced integrated steel plants, Tata Steel Kalinganagar produces world-class steel for critical sectors such as defence, automotive, infrastructure, engineering, capital goods, oil & gas, renewable energy, and shipbuilding.

Tata Power Rolls Out Affordable Solar Rooftop Solutions

• Launches solar rooftop solutions starting from Rs 2499 in Odisha, backed by attractive financing options
• Aiming to accelerate India's clean energy transition with a target of 3 lakh rooftop installations in Odisha and 10 lakhs nationwide in the next 3 to 5 years
• Tied up with OREDA to boost state wide solar adoption
• Launches lifestyle solar solutions by expanding the product portfolio beyond simple solar rooftop systems

Tata Power Renewable Energy Limited (TPREL), India's leading rooftop solar company and a wholly owned subsidiary of Tata Power, today announced the launch of India’s most affordable rooftop solar solution at Bhubaneshwar in Odisha under its 'Ghar Ghar Solar' campaign. 

The Company’s accessible, consumer-centric financing model makes rooftop solar affordable for a broader segment of Odisha’s population. Residents can install systems with minimal upfront investment starting from ₹2,499 for 1 kW, ₹4,999 for 2 kW, and ₹7,999 for 3 kW. This initiative is impactful for households, turning solar adoption from an aspiration into an economically viable option. This first-of-its-kind initiative is set to accelerate residential rooftop solar adoption across the state by enabling customers to pay just one-third of the total amount, making solar power more accessible, affordable, and seamlessly integrated into households.  

Odisha consumers gain substantial financial benefits through the PM Surya Ghar: Muft Bijli Yojana, which offers subsidies up to ₹78,000 for solar systems up to 3 kW, covering nearly 40% of installation costs. The initiative is further strengthened through the State Government’s additional subsidy of ₹25,000 for a 1 kW system, ₹ 50,000 for a 2 kW system, and up to ₹ 60,000 for systems 3 kW and above. This financial support significantly accelerates rooftop solar adoption, making clean energy solutions accessible to households across the state. 

To cater to evolving needs, Tata Power has also introduced two enhanced Lifestyle solutions for residential customers:

• MySine – a compact, intelligent solar + battery backup system for uninterrupted power
• Solar Design Spaces – a curated range of 25 aesthetic rooftop installations blending sustainability with style

Odisha has already witnessed a remarkable surge in rooftop solar adoption, significantly driven by the growing awareness created through the 'Ghar Ghar Solar' initiative. The total consumer base has grown over four times, from 430 to 1,759, underscoring the deepening penetration of solar energy among both residential and commercial consumers. In FY25 alone, the Company onboarded 1,033 new solar rooftop customers, a tenfold increase from FY24 in the state. The Commercial & Industrial (C&I) segment also showed consistent growth in Odisha, with 76 consumers added in FY25, up from 56 consumers in FY24.

TPREL, the No 1 Rooftop Solar company for 10 years now, offers a comprehensive range of benefits to its solar rooftop consumers, including a 25-year warranty on modules, trusted quality assurance, exclusive sales and service in over 450+ districts, lifetime service and after-sales support across India, easy financing options, and insurance for solar rooftop systems.

With easy financing, pan-India presence, and wide-ranging innovations, Tata Power is making clean energy mainstream, empowering every Indian home to be solar-ready.

Interested customers can call our helpline at 18002577777 to know more about the installation of solar rooftop under the #GharGharSolar campaign.

NSE and Odisha Govt Sign MoU to Enhance Financial Literacy Through Investor Awareness Programs and Student Skilling in the BFSI Sector Across Odisha

India’s leading stock exchange, the National Stock Exchange (NSE) and the Government of Odisha signed a Memorandum of Understanding (MoU) to enhance Financial Literacy through Investor Awareness Programs and to implement the Student Skilling Programs for the youth across Odisha.

This MOU was exchanged between Shri Sriram Krishnan, Chief Business Development Officer, NSE and Shri Prashant Kishore Mohapatra, Special Secretary, Govt. of Odisha in the distinguished presence of Suryabanshi Suraj, Hon’ble Minister of State(I/C), Higher Education, Sports & Youth Services, Odia language, Literature & Culture, Govt. of Odisha, today at Bhubaneshwar.

As part of the understanding, NSE with the support of the Government of Odisha shall conduct awareness drive through seminars, camps, knowledge sessions, road shows, workshops to spread financial literacy and investor awareness. This MoU also aims to empower the youth with industry-relevant skills and enhance their employability in the BFSI sector.

Odisha has an expanding financial ecosystem and it is imperative to empower the students, investors and corporates. This understanding embraces various fabrics of the financial ecosystem targeting various stakeholders. This multifaceted MoU is a step towards enhancing financial literacy, promoting investor awareness and fostering empowerment of the existing and new investors. Additionally, the MoU focuses on preparing youth with essential skills through NSE’s Student Skilling Program—an initiative aligned with the central government’s vision of unlocking human capital and enabling both employability and self-employment in the BFSI sector.

Shri Suryabanshi Suraj, Hon'ble Minister of State(I/C), Higher Education, Sports & Youth Services, Odia language, literature & Culture, Govt. of Odisha said, "The Government of Odisha is proud to partner with NSE to drive financial literacy, investor awareness and student skilling in our region. This MoU is not just about expanding financial knowledge; it is about empowering our students with the knowledge and skills they need with respect to financial sector. Together, we are creating a robust financial ecosystem that will pave the way for sustainable growth in Odisha”.

Shri Sriram Krishnan, Chief Business Development Officer, NSE said, “Our collaboration with the Government of Odisha highlights our shared dedication of boosting financial literacy and empowering investors. Through initiatives like investor awareness programs and the Student Skilling Program, we are fostering a well-informed community for both seasoned and new investors. Moreover, we are also committed to equipping the youth of Odisha with the vital skills needed to thrive in today's ever-evolving financial landscape.”

From April 2024 to March 2025, NSE conducted 14,679 Investor Awareness Programs across all 36 states & Union Territories in 14 languages, reaching more than 8 lakh participants. Under the Student Skilling Program more than 7500 students have been trained across various states.

India’s First Drone CoE Launched in Odisha by MP Sujeet Kumar Under SAGY, in Collaboration with IG Drones to Uplift Tribal Youth

In a groundbreaking development, Member of Parliament Sujeet Kumar established India’s first-ever Drone Centres of Excellence (CoEs) under the Sansad Adarsh Gram Yojana (SAGY) in partnership with leading Drone Technology company IG Drones.

MP Sujeet Kumar

Located in the Gram Panchayats of Sagada and Bhatangpadar in Odisha's Kalahandi district, these centers represent a significant leap toward empowering tribal youth and women through advanced skill development in drone technology. This is the first time that such centers of excellence have been launched under the flagship scheme by the Central Government, launched by Prime Minister Narendra Modi in 2014 to drive inclusive rural development.

Adopted by MP Sujeet Kumar under the SAGY initiative—Sagada and Bhatangpadar villages have undergone remarkable transformations. By allocating ₹10 lakhs from his MPLADS fund, Kumar has brought cutting-edge technological education to these underserved areas, aligning with the government’s vision for an Atmanirbhar Bharat and Viksit Bharat 2047. The initiative also supports the Prime Minister’s Drone Policy, which envisions a significant expansion of drone operations in India, from 27,000 to over one lakh.

MP Sujeet Kumar, speaking about the initiative, highlighted its transformative potential.

The Drone Centres of Excellence are a testament to the power of technology in driving equitable development. By equipping tribal youth and women with cutting-edge skills, we are opening up opportunities that were once out of reach and ensuring their participation in India’s digital economy. This futuristic step was possible with the support of IG Drones which are establishing such centers of excellence in other parts of the country as well.

Expressing his enthusiasm, Bodhisattwa Sanghapriya, Founder & CEO, IG Drones, said:

We are happy to take yet another step in empowering the tribal youth and highlighting Odisha as a drone hub at a national level. These centers aim to provide specialized training to rural students and unemployed youth, preparing them for roles as drone pilots and technicians. As the drone industry in India continues to expand rapidly, this initiative addresses the growing demand for skilled professionals in the sector.

The centers also create pathways for employment by facilitating placements through IG Drones’ expertise and partnerships with the National Skill Development Corporation (NSDC).

Reflecting MP Kumar’s focus on holistic development, the Drone CoEs place a strong emphasis on women’s empowerment. By integrating Prime Minister Modi’s “Drone Didis” initiative, these centers equip women to use drone technology in agriculture and other applications, fostering economic independence and breaking traditional gender barriers. This approach not only enhances their employability but also positions them as key contributors to India’s technological advancement.

In addition to empowering women, the centers address systemic unemployment in tribal regions by equipping youth with future-ready skills. Aligned with the National Education Policy’s focus on STEM education, the CoEs spark interest in technology among schoolchildren while bridging the rural-urban divide in access to advanced learning. By introducing drone technology to tribal regions, the initiative ensures equitable access to opportunities, in keeping with the government’s “Sabka Saath, Sabka Vikas” agenda.

The establishment of these centers comes at a pivotal moment for India’s drone industry. With applications in agriculture, logistics, defense, and infrastructure, the sector is not only driving innovation but also creating significant employment opportunities. This initiative by MP Sujeet Kumar and IG Drones ensures that tribal youth are well-positioned to contribute to and benefit from the sector’s growth, transforming Kalahandi into a hub of skill development and technological progress.

For IG Drones, a leader in drone technology and innovation, this partnership underscores their commitment to using technology for societal good. Based in Noida, IG Drones specializes in Made-in-India drone solutions powered by AI, and its collaboration with MP Kumar reflects its dedication to advancing India’s technological self-reliance.

The Drone CoEs in Sagada and Bhatangpadar marks a new chapter in rural empowerment. By bridging technological divides, fostering gender inclusivity, and addressing unemployment, this initiative sets a benchmark for public-private partnerships in advancing national priorities. It serves as a model for leveraging innovation to uplift marginalized communities and positions India as a global leader in drone technology-driven development.

Tata Power Launches Power Distribution Technology Centre in Odisha

• Tech Centre to enable real-time monitoring and seamless system operations for uninterrupted power supply across Odisha
• Equipped with SCADA and ADMS, it will ensure enhanced network reliability and precise operational control through the integration of IT and OT
• To support critical consumer-facing applications and billing systems while serving as the primary data centre for TPCODL and the backup data hub for other 3 discoms.

TPCODL, a joint venture of Tata Power and the Government of Odisha, has unveiled a state-of-the-art Power Distribution Technology Centre in Bhubaneswar today, marking a transformative leap in distribution network management and operational excellence.

The centre was inaugurated by Shri K. V. Singh Deo, Hon’ble Deputy Chief Minister, Government of Odisha, in the esteemed presence of the Shri Manoj Ahuja, Chief Secretary, Government of Odisha; Dr Praveer Sinha, CEO&MD, Tata Power; Mr Sanjay Banga, President T&D; Tata Power, CEOs of Tata Power led Odisha discoms- TPCODL, TPSODL, TPWODL and TPNODL and other senior officials from the Government and Tata Power.

This cutting-edge technology hub integrates advanced Operational Technology (OT) and Information Technology (IT) systems, along with a 24x7 Power System Control Centre (PSCC) that ensures real-time network monitoring, seamless system operations, and uninterrupted power supply across Odisha. It will help to improve the resilience of the power distribution network while ensuring seamless operations across the state.

Shri K. V. Singh Deo, Hon'ble Deputy Chief Minister and Energy Minister of Odisha at the inauguration, said –

The Power Distribution Technology Centre is a key step in making Odisha a hub of distribution excellence. With advanced infrastructure and technologies, it ensures resilient and reliable power for the state. It reflects our vision for a future-ready energy ecosystem that supports both consumers and industries. I commend Tata Power for its unwavering commitment to strengthening power distribution in Odisha.

It is also equipped with Advanced Distribution Management Systems (ADMS), to ensure enhanced network reliability and precise operational control. Geographical Information System (GIS) technology streamlines asset management and consumer indexing, while the Utility Data Stream (UDS) automates energy audits through seamless integration of GIS, billing, and meter management. Real-time weather monitoring and satellite communication further bolster connectivity and operational continuity.

The PSCC manages the 33 kV network, encompassing 224 SCADA-integrated primary substations and their associated 11 kV infrastructure, reinforcing network reliability and efficiency. At the heart of the facility lies a robust Data Centre, housing over 100 racks and 400+ servers. This infrastructure supports critical consumer-facing applications like websites, mobile apps, call centres, and billing systems.

In addition to its technological capabilities, the centre bolsters disaster recovery mechanisms for all four Tata Power led Odisha DISCOMs. The PSCC serves as the Main Control Centre (MCC) for TPCODL and as the Backup Control Centre (BCC) for TPWODL, TPSODL, and TPNODL, ensuring business continuity during any potential disruptions. The BCC located in Sambalpur, plays a critical role in maintaining uninterrupted operations across Odisha.

Since taking over the distribution business, Tata Power led Odisha discoms have consistently upgraded their infrastructure to deliver reliable and sustainable power. The migration to the advanced Technology Centre represents a significant milestone, reflecting the company’s commitment to leveraging advanced technologies for the benefit of its consumers and stakeholders. The inauguration of the Technology Centre underscores the collective vision of Tata Power Odisha DISCOMs to create a technology-driven robust power distribution system. This state-of-the-art facility will help transform Odisha Discoms into one of the most advanced discoms in the country, serving over 5 crore consumers through real-time network monitoring and seamless operations.

Adani in Advance Talks With Odisha for Its First Greenfield Cement Manufacturing Plant

The Adani Group is in advanced discussions with the Odisha government to set up its first greenfield cement plant. This plant will be constructed from the ground up, marking a significant expansion for Adani in the cement sector. The proposed plant will have a production capacity of 4 million tonnes per annum (MTPA) and is expected to be operational by the 2028 financial year.

Adani group that has so far only acquired cement businesses has also prepared a strategy to build new facilities from scratch.

The group has finalized its discussions with the Odisha government and the target is to make the cement plant ready by FY28.

This move is part of Adani's broader strategy to become one of India's largest cement producers. The investment for this project is estimated to be between ₹3,000-3,500 crore.

Earlier in August, Adani Group's Ambuja Cements has announced a significant investment of ₹1,600 crore to set up its first cement grinding unit in Bihar. However, this involves establishing a facility to grind cement clinker into finished cement, rather than constructing a cement manufacturing plant from the ground up.

Since entering the cement industry in 2022 by acquiring Ambuja Cements, the Adani Group has made several strategic acquisitions to rapidly expand its production capacity.

The Adani Group has made several strategic acquisitions to expand its presence in the cement industry. These include the acquisition of Sanghi Industries' cement business, which significantly boosted Adani's production capacity.

Additionally, Adani acquired Hyderabad-based Penna Cement, further expanding its footprint in southern India. The acquisition of CK Birla group's Orient Cement also added substantial capacity to Adani's portfolio. Gujarat-based Saurashtra Cement is in advanced discussions for acquisition by Adani. The group is also exploring the acquisition of Jaiprakash Associates' cement business and considering the acquisition of Vadraj Cement, owned by ABG Shipyard.

These acquisitions are part of Adani's ambitious plan to become one of India's largest cement producers, aiming for a production capacity of 140 million tonnes per annum by the financial year 2027-28.

Back to Adani's Ambuja Cements, Ambuja reported a 42.5% year-on-year decline in net profit for the second quarter of the fiscal year 2024-25, with net profit falling to ₹455.96 crore. Despite the profit decline, Ambuja Cements achieved a 9% growth in sales volume, reaching 14.2 million tonnes in Q2, the highest in the past five years.

To recall, last year in March it was reported that Adani Group is setting up two new cement manufacturing plants in Andhra Pradesh, with a combined capacity of 10 million tonnes per annum (MTPA). These plants said to be be located in Kadappa and Nadikudi.

Apart from cement, Adani Enterprises has begun operations of a new copper unit in Mundra, Gujarat, with a capacity of 1 million tonnes per annum (MTPA). The project is expected to create 7,000 direct and indirect employment opportunities.

Tata Power Awards ₹ 11,481 Crore Contracts to Odisha's 6,645 Local Vendors, Suppliers

Tata Power-led Odisha Discoms has awarded contracts worth ₹ 11,481 Crore (approximately US $1.37 billion) to local contractors and suppliers in Odisha. This initiative is part of their collaboration with the Odisha government and aligns with the "Make in Odisha" vision. The contracts are divided into two main categories: materials and services.

Materials: This includes essential components like distribution transformers, cables, poles, and hardware.

Services: This covers activities such as meter installation, billing, collection, call center operations, and administrative roles.

These contracts have been awarded to 6,645 local vendors and are expected to significantly contribute to the economic progress of local communities in Odisha.

Odisha has several Distribution Companies (Discoms) responsible for electricity distribution across different regions, including TP Central Odisha Distribution Limited (TPCODL), TP Southern Odisha Distribution Limited (TPSODL), TP Western Odisha Distribution Limited (TPWODL) and TP Northern Odisha Distribution Limited (TPNODL).

These Discoms are joint ventures between Tata Power and the Government of Odisha, aiming to improve the efficiency and reliability of power distribution in the state.

Within the service sector, covering meter reading, billing, network maintenance and others, the discoms have awarded contracts to 4,347 vendors with a total value of Rs 7,560 crore.

Similarly, in the materials supply category, including distribution transformers, cables, poles and others, the discoms have assigned 2,298 contracts valued at Rs 3,921 crore for its operations.

Tata Power Gets LoI to Acquire Paradeep Transmission Ltd in Odisha

Tata Power Co. Ltd has received a Letter of Intent (LoI) from PFC Consulting to acquire Paradeep Transmission Ltd in Odisha. The project involves constructing a 190 km, 765 kV double circuit transmission line from the existing Angul substation to the proposed substation at Paradeep. It will operate on a build, own, operate, and transfer basis, providing transmission services for 35 years.

The project is set to commence commercial operations within 24 months of acquisition. The financial details have not been disclosed.

Paradeep Transmission Ltd is a project-specific special purpose vehicle (SPV) that Tata Power intends to acquire in Odisha. The SPV will focus on developing an interstate transmission system (ISTS) scheme in Odisha. It is a wholly-owned subsidiary of PFC Consulting, which itself is a subsidiary of Power Finance Corporation.

The acquisition of Paradeep Transmission Ltd by Tata Power holds several key implications. The project involves constructing a 765 kV double circuit transmission line spanning 190 km. This expansion enhances the power transmission network in Odisha, improving reliability and efficiency.

By acquiring a special-purpose vehicle (SPV) focused on transmission infrastructure, Tata Power strengthens its position in the energy sector. It gains access to critical assets and operational expertise.

The Inter State Transmission System (ISTS) in India has been planned to facilitate smooth transfer of power across state and regional boundaries throughout the country. It establishes a robust National Grid, leading to “One Nation - One Grid - One Frequency.” This system enables power transfer from resource-rich areas to major load centers with reliability and security.

Now, specifically regarding the Eastern Region Expansion Scheme – XXXIV (ERES-XXXIV) in Odisha, it aims to transmit renewable energy (RE) from outside Odisha to Paradeep, an important industrial center in the state. This RE power will support the production of green hydrogen and green ammonia within Odisha.

The transmission scheme, ERES-XXXIV, will also cater to the anticipated large demand from industrial consumers in the Paradeep region. Initially, an estimated 1,400 – 1,500 MW of electricity demand is likely from industrial consumers, with subsequent growth to 5,500 – 6,000 MW.

A new 765/400 kV GIS substation will be established at Paradeep, with an initial transformation capacity of 2×1,500 MVA.
This substation will connect to PGCIL’s Angul substation via a 765 kV line spanning 190 km. This substation will connect to PGCIL’s Angul substation via a 765 kV line spanning 190 km

Bhubaneswar to Be Transformed Into Solar City Under MNRE's Green City Mission

Bhubaneswar is set to become a Green Energy and Solar City under the Ministry of New and Renewable Energy's (MNRE) Green City Mission.

The capital city of Odisha, Bhubaneswar, has been chosen by the MNRE for complete transformation. The project aims to maximize the utilization of renewable energy potential to meet the city's electricity requirements.

Implementation partners include the Odisha Renewable Energy Development Agency (OREDA) and Tata Power Central Odisha Distribution Limited (TPCODL).

Around 42 stretches of road network have been identified for solar-powered street lights integration. Solar trees will be installed at religious and cultural sites to promote green energy.

Additionally, rooftop solar projects, solar-powered water kiosks, and EV charging stations are part of the Initiative.

This move toward sustainability aligns with Bhubaneswar's smart city transformation, which also includes a well-planned waste management system and LED street lights installation.

Tata Steel To Infuse ~ Rs 6,600 Crore in Equity of Neelachal Ispat Nigam

Tata Steel plans to infuse up to Rs 6,600 crore in Neelachal Ispat Nigam Ltd (NINL) 's equity over the next two years, reported The Telegraph. This capital injection aims to fund NINL's expansion plans, specifically focusing on its long products business segment.

This move comes after Tata Steel acquired NINL, in early 2022, for Rs 12,100 crore through a government divestment process. NINL is expected to benefit from Tata Steel's expertise in the steel industry, allowing it to grow its long products business. Analysts believe this investment is a positive step for Tata Steel, as it strengthens their presence in the long products market and aids NINL's growth trajectory.

Neelachal Ispat Nigam Ltd (NINL) is an integrated iron and steel plant located at Kalinganagar, Duburi, Dist-Jajpur, Odisha. Presently, NINL produces pig iron and LAM coke, along with other products like nut coke, coke breeze, crude tar, ammonium sulphate, and granulated slag (phase-l). The company also has its own captive power plant and exports a substantial quantity of power.

Tata Steel Long Products Limited (TSLP), a subsidiary of Tata Steel, has completed the acquisition of 93.71% in NINL from various entities, including MMTC Ltd., NMDC Ltd., MECON Ltd., and others. The acquisition was made for Rs. 12,100 Crore.

NINL is located in close proximity to Tata Steel's state-of-the-art facility at Kalinganagar. This acquisition provides synergies of shared infrastructure, resources, and management. Tata Steel aims to build a dedicated and sustainable long products complex.

Tata Steel plans to restart the existing 1-million tons per annum steel plant at NINL and simultaneously work on expanding its capacity. The goal is to build a 4.5 million tons per annum state-of-the-art long products complex in the next few years, with further expansion to 10 million tons per annum by 2030.

NINL will focus on producing long products such as wire, bars, and rods, which are crucial for India's infrastructure development and construction sector.

This investment aligns with Tata Steel's commitment to Odisha and its growth strategy in the long products business.

In steel manufacturing, long products refer to a variety of steel shapes and forms that are typically elongated or have extended lengths. These include — Hot Rolled Bar commonly used in construction and manufacturing; Cold Rolled or Drawn Bar; Rebar (Reinforcing Bars), used to reinforce concrete structures, such as in buildings and bridges; Railway Rails, the tracks on which trains run, made from long steel sections, and others.

Long products play a crucial role in construction, infrastructure, and manufacturing sectors.

President Inaugurates L&T Skill Training Hub in Her Hometown in Odisha To Upskill Tribal Youth

The Honourable President of India, Smt Droupadi Murmu, today inaugurated the L&T Skill Training Hub at her hometown Pahadpur, Mayurbhanj in Odisha. The historic event was also graced by Ms Meena Subrahmanyan, President of Prayas Trust - an L&T-funded non-profit organisation, along with senior officials of L&T and the Odisha-based non-profit SLS Trust. The historic event was also graced by Ms Meena Subrahmanyan, President of Prayas Trust - an L&T-funded non-profit organisation, along with senior officials of L&T and the Odisha-based non-profit SLS Trust.

L&T, in collaboration with SLS Trust, has established the Skill Training Hub across a land parcel of five acres. The state-of-the-art facility was completed in a remarkable five-month timeframe and aims at providing underprivileged youth in the region with training in construction skills, thus enabling them to become self-reliant. SLS Trust, led by its President, Ms Itishree Murmu, has been instrumental in creating opportunities for the marginalised sections of society.

President Droupadi Murmu inaugurated a Skill Training Centre at Pahadpur in Mayurbhanj district of Odisha and visited SLS Memorial residential school in the same village where she interacted with the students. pic.twitter.com/jmy4PuxKQK

— President of India (@rashtrapatibhvn) November 21, 2023

Commenting on the launch of project, Ms Meena Subramanyan, President of Prayas Trust said, “This training center will enable candidates to fully focus on learning and developing their skills in an enabling environment with a strong focus on life skills and personality development. We believe that empowering the underprivileged youth through accessible skill training is not just an investment for their future but a promise of a brighter and more inclusive tomorrow.”

The project, which includes operations and maintenance, is a significant opportunity for the tribal youth in the area, connecting them with opportunities beyond their immediate surroundings.

Complementing her comment, Ms Mabel Abraham, Joint General Manager - Corporate Social Initiatives, L&T, said: “Transforming dreams into opportunities, L&T is dedicated to making a lasting impact by equipping underprivileged youth with valuable skills. Our commitment to empower these young individuals is a testament to our vision for a more promising and inclusive society.”

The Skill Training Hub is equipped with contemporary infrastructure, featuring an administrative-cum-institute building, a multipurpose hall, an e-learning hall, a digital training room, separate hostels for both boys and girls (each accommodating 120 individuals), dining facilities, practice yards for various trades, and a dedicated workshop for learning pipe welding.

Additionally, the training center is equipped with state-of-the-art simulators with AR/VR technology to enhance the learning experience.

Odisha's Innovation Shines Bright at Expand North Star 2023: 27 Startups Make Their Mark with Startup Odisha at the Helm

Odisha Pavillion

Expand North Star, the world's premier startup extravaganza, made a resounding debut at Dubai Harbour with its most extensive edition to date. Over 1,800 startups hailing from 100 different countries converged to connect, seek funding, and exchange experiences with their global counterparts. As a dynamic parallel event to the monumental GITEX Global, this gathering has firmly established itself as the epicentre of innovation within the thriving tech ecosystem.

A remarkable contingent of 27 startups from Odisha, spanning across diverse sectors such as Healthtech, Legaltech, Edutech, RetailTech, Transportation, and Artificial Intelligence, took centre stage. These innovative companies include — Qualysec Technologies, Credore, TransportSimple, MedTel Healthcare, IG Drones, Legodesk, Happiness Under Budget, Confluex Marketing, Twinverse Technology, KAPSSN, Saahaaz, Ambula, Dar Hub, Zeon AI, Smaket, Publiconn, Booking Jini, Todoskills.co, Indian Automobile Doctor, Clino health, Larkai Healthcare, Stembook, Fydo, K One Ventures, EzeRx Health, Agile ICO, Binimise Labs and Fooliyoo Technologies.

These startups are not only revolutionizing their respective industries but are also shining a spotlight on the vibrant entrepreneurial ecosystem of Odisha.

Dr. Omkar Rai, Executive Chairman of Startup Odisha, stated, "Expand North Star 2023 is a testament to the remarkable progress and potential of startups in Odisha. These 27 startups, representing various sectors, have demonstrated exceptional innovation, and are positioned to lead the global tech landscape. Startup Odisha is proud to lead this delegation and showcase Odisha's capabilities on the international stage."

Panel Discussion - Dr Omkar Tai (Chairman – Startup Odisha) 

Dr. Omkar Rai played a prominent role at Expand North Star by participating in a panel discussion titled "Indian Incubators Spark the Next Wave of Unicorns." This enlightening discussion was skilfully moderated by Feroz Sanaulla, Partner at Arthur D Little, and it revolved around the pivotal role that incubators play in the startup ecosystem.

The panel shed light on the critical functions of incubators in guiding startups towards developing market-fit products. They also emphasized the importance of equipping emerging entrepreneurs with the necessary commercial knowledge to thrive in today's competitive business landscape. Dr. Rai and the other panellists shared insights, experiences, and best practices, offering a roadmap for the next generation of unicorn startups. The engaging dialogue not only showcased the contributions of Indian incubators but also provided valuable guidance for startup ecosystems worldwide.

Dr. Chintan Vaishnav, the Mission Director of Atal Innovation Mission (AIM), NITI Aayog, Government of India, joined Dr. Omkar Rai during his interaction with Odisha-based startups. He shared valuable insights and expressed his appreciation.

Two Odisha-based startups, Happiness Under Budget Pvt Ltd, a rural-focused B2B distribution platform for retailers, SMEs, and skilled professionals and Darubrahma Automation Robotics Private Limited, specializing in advanced AI drones for the agriculture sector have been shortlisted in the highly competitive Supernova Challenge. This esteemed pitch competition is designed for entrepreneurs with groundbreaking innovations, and this year, they have the opportunity to vie for $200,000 in cash prizes.

The presence and accomplishments of these 27 Odisha startups at Expand North Star 2023 exemplify the state's commitment to nurturing innovation and fostering a dynamic startup ecosystem. As they engage with the global tech community in Dubai, they are well-positioned to showcase Odisha's potential as a hub of innovation and entrepreneurship.

Startup Odisha Empowers Incubators to Strengthen the State's Startup Ecosystem

Startup Odisha conducted a two-day capacity-building session for existing and aspiring incubators.

The event featured a distinguished lineup of speakers and thought leaders.

Startup Odisha, an initiative of the MSME Department of the Government of Odisha has conducted a two-day capacity-building session for existing and aspiring incubators in its continuous effort to foster entrepreneurship and innovation. The event aimed to facilitate discussions on best practices, underscore the pivotal role of incubators in the startup ecosystem, and advance the vision of establishing a minimum of one incubator in each of Odisha's 30 districts.

With 27 incubators currently under its umbrella, Startup Odisha is committed to nurturing a thriving startup ecosystem in the state. The capacity-building session featured prominent speakers and thought leaders who shared insights into various aspects of incubation and its vital role in supporting startups. Notable speakers included Dr. Omkar Rai, Executive Chairman of Startup Odisha, who delivered an inspiring keynote address, highlighting the significant strides made by Startup Odisha in promoting entrepreneurship in the state. Mr. Uday Wankawala, CEO of AIC-RMP, discussed the incubation ecosystem's pivotal role in nurturing and scaling startups, while representatives from the Startup India Team provided insights into government initiatives supporting the incubation ecosystem.

Dr. Omkar Rai, Executive Chairman of Startup Odisha, said, “This capacity-building session has been instrumental in providing a vital platform for incubators to not only share their invaluable experiences but also to glean insights from industry experts. It has fostered discussions on strategies aimed at fortifying Odisha's startup ecosystem. Such collaborative efforts are pivotal in nurturing the innovation-driven growth of startups in our state."

The session also featured successful startup founders, Abhishek Gautam of Ambula Technologies, Sriman Rabishankar Dash of GauravGo Games, and Paritosh Anand of Vatsalya Wellness, who shared their experiences, showcasing the vital role played by incubators in their entrepreneurial journeys. Mr. Chintan Bakshi, Partner at CIIE-IIM Ahmedabad, emphasized the importance of industry-academia collaboration for fostering innovation and entrepreneurship, and Mr. S. Santhosh, Head of Operations at Crescent Innovation and Incubation Council, provided insights into leveraging educational institutions' resources to promote innovation.

As Odisha marches towards its mission of 5000 Startups by 2025, Startup Odisha remains committed to its mission of fostering innovation, supporting startups, and driving economic growth in the state. The success of this capacity-building session marks another milestone in its journey towards realizing this vision.

About Startup Odisha

Startup Odisha under the MSME Dept. Govt. of Odisha as the Nodal agency for building the startup and innovation ecosystem in the state, came into existence in 2016 with Odisha Startup Policy-2016. The vision is to introduce a holistic and inclusive ecosystem for the existing and aspiring startups, establish itself as one of the top startup hubs in the country, and enable the youth of Odisha to become Job-Creators and support the state in employment generation. With the unique support system under the Odisha Startup Policy 2016, Startup Odisha has supported Women/SC/ST/PH/Transgenders-led startups/ entrepreneurs by providing them with financial grants, subsidized incubation and exposure in participating in various national and international events. Since its inception, Startup Odisha has been home to the best entrepreneurial minds & has already supported and facilitated more than 1700+ Startups, with 600+ startups led by women directors, founders and co-founders. It houses the facilities and services ranging from a world-class infrastructure with state of an art facility called O Hub to the best Incubation facility supported by a proactive team, the aim is to take a leap for registering a minimum of another 5000 startups with recognition by 2025. Startup Odisha has been continuously evolving in its Policy measures, always ensuring to have a responsive policy framework. We have been the top performing Startup Hubs for three consecutive years in the country.

IIM Sambalpur Receives $2 Mn Funding for Startup Incubation Center on Its 9th Foundation Day

Also Inks Pact with India Accelerator to Promote Entrepreneurship Ecosystem

IIM Sambalpur celebrated its 9th Foundation Day with the Theme: “Accelerating Startup’s Ecosystems”. Mr. Sushant Kumar, ESKYEN Ventures committed fund of 2 million USD to Incubation Centre of IIM Sambalpur to promote start-ups and entrepreneurship. Also an MoU signed between IIM Sambalpur & India Accelerator to build entrepreneurial capacity for the incubates of IIM Sambalpur.

The program was address by Shri. Dharmendra Pradhan, Hon’ble Minister of Education, Skill Development & Entrepreneurship, GoI as the Chief Guest.

During the event, the Chief Guest, Shri Dharmendra Pradhan, Union Education Minister of the Government of India, congratulated IIM Sambalpur on its Ninth Foundation Day through a video message. He praised the alliances and partnerships that IIM Sambalpur has formed with businesses like India Accelerator, SIDBI, and Flipkart, highlighting their importance in fostering entrepreneurs and assisting the livelihoods of local weavers and craftsmen. In his inspirational speech, he urged the students to use innovation, inclusivity, and integrity - the three pillars of IIM Sambalpur - as their compass points in all their activities. He acknowledged that IIM Sambalpur had given them the knowledge and abilities necessary for professional success and urged them to constantly remember their greater purpose, strive for excellence, give back to society, and uphold the values that will cause India to become a developed country by 2047.

The Guest of Honour, Mr. Sushant Kumar, Founder & Principal of ESKEYN Ventures & Indus Capital, USA, underscored the vital role of confidence in early investors like Ram Shriram, who was the first investor in Google and supported Larry Page and Sergey Brin, even during the company's unprofitable years. He shed light on the enormous obstacles that companies must overcome by empathizing with the primary worries that frequently plague them, such as fundraising, loan repayments, and job stability. Additionally, Mr. Kumar revealed major funding for an incubation center at IIM Sambalpur totaling $2 million. He commended the dynamic leadership of Professor Jaiswal and his team, assuring that the project's implementation would commence shortly.

The Keynote Speaker, Mr Hiranmaya Mahanta, CEO, i-HUB Gujarat shared a story of Stanford University's innovative spirit. Stanford got $50,000 from the U.S. State Department's innovation fund when it was established in 1939, but their strategy for fostering innovation made them a force to be reckoned with. In a similar vein, he believed that IIM Sambalpur might take the lead in promoting entrepreneurship and innovation thanks to Dr. Jaiswal's inspirational leadership. The institute, like Stanford University, has a fantastic opportunity to influence the future.

Additionally, he encouraged students to adopt an innovative mindset, take prudent chances, and not be afraid to ask questions.

In the welcome address, Prof. Mahadeo Jaiswal, Director, of IIM Sambalpur stated, "Established on September 23, 2015, within its 8-year journey IIM Sambalpur has carved a niche among the top IIMs. The vision of IIM Sambalpur is to nurture responsible leaders with an entrepreneurial mindset and core values centered around innovation, inclusiveness, and integrity. We are also privileged that Prime Minister Shri Narendra Modi laid the foundation stone of the institute on January 2, 2021. Some achievements in these 8 years include: In 2019, we created history in top B-schools; in 2019, IIM Sambalpur achieved 50 per cent gender diversity, a milestone followed by all IIMs."

He also spoke about the trend in increasing the percentage of non-engineering students in the MBA batch in which IIM Sambalpur emerged as a leader in the country. The director further informed about the three unique projects namely BunkarValleys.com to promote master weavers and artisans, MineralValleys.com to study the value that mines and minerals are creating for the people of Odisha and DigitalValue.com to promote digital leadership in the country and upcoming MoUs.”

Mr Hiranmaya Mahanta, CEO, i-HUB Gujarat graced the event as the Guest of Honour. On the occasion, Mr Arindam Mukhopadhyay, Partner, India Accelerator; Mr. Deepak Sharma, Co-Founder & Managing Partner, India Accelerator and Mr. Bodhisattwa Sanghapriya, Founder and CEO, IG Drones were also present.

On the occasion, the key achievers in different fields were felicitated by the dignitaries. Mr. Amrut Mohanty, CAO I/C gave the vote of thanks. The event concluded with a roundtable discussion on the topic 'Accelerating Startup’s Ecosystems.

Startup Odisha Launches ₹100 Crore Odisha Startup Growth Fund (Fund of Funds) With SIDBI As Fund Manager

Startup Odisha and SIDBI sign MOU to manage 100 Crore Odisha Startup Growth Fund (OSGF)

Aimed at transforming the state into a startup destination by creating a conducive environment for startups to flourish

Startup Odisha, an initiative of the MSME Department of the Government of Odisha has today launched a one-of-its-kind ₹100 Crore Odisha Startup Growth Fund (Fund of Funds) with Small Industries Development Bank of India (SIDBI) as the fund manager. This fund is truly unique due to its perpetual nature. When the initial corpus of ₹100 Crore gets exhausted, the state government would consistently replenish the fund, ensuring continuous, long-term support for startups.

SIDBI will serve as the fund manager for the Odisha Startup Growth Fund (Fund of Funds), responsible for shaping its investment strategy and managing its portfolio. Established by the Government of Odisha as part of its Fund of Funds initiative, the OSGF is dedicated to investing Rs. 100 Crores over five years through Alternative Investment Funds (AIF) in Odisha-based startups. This collaboration is set to play a crucial role in bolstering the MSME sector, which contributes 33% to India's GDP and generates over 120 million jobs.

Smt. Anu Garg, IAS Development Commissioner cum Additional Chief Secretary, said, “Our endeavour through the launch of Odisha Startup Growth Fund is to make Odisha the preferred destination for entrepreneurs. Odisha is at the cusp of transformational change and the Government of Odisha aims to extend its support to initiatives like this that help the citizens of this state to grow. Together, we are paving the way for innovation to flourish, startups to thrive, and the MSME ecosystem to grow even stronger. In this dynamic environment, Startup Odisha is adding to the inclusiveness of the Odisha growth story.”

Dr. Omkar Rai, Executive Chairman, Startup Odisha, said, "The Launch of Odisha Startup Growth Fund marks a pivotal moment in our mission to foster a vibrant startup ecosystem in Odisha. We are dedicated to providing our state's startups with the essential financial backing required for their growth. This fund symbolizes our unwavering commitment to nurturing innovation, catalysing job creation, and propelling our startups to succeed both at the national and global levels. We are crafting a future where Odisha would be recognized as a beacon of entrepreneurial excellence.”

Shri S. Ramann, Chairman & Managing Director, SIDBI said, "We are extremely glad to be working with Startup Odisha and support the growth of Odisha's startup ecosystem. Through financial support and guidance, we will empower startups to thrive as well as make significant contributions to Odisha's economic landscape. This partnership will add another layer to our efforts, setting the stage for the state to become a startup funding hotspot in the next 5-10 years. SIDBI is aiming to continue to act as a catalyst to mobilise domestic capital for country’s startup ecosystem.”

Shri Saswat Mishra, IAS, Principal Secretary, MSME Department, said, “The launch of Odisha Startup Growth Fund will support the development of the entrepreneurial ecosystem in the state. We are committed to financially enable startups in Odisha with conducive policies and funds. Startup Odisha along with SIDBI will be working towards disbursing the funds to high-potential startups.”

Odisha Startup Growth Fund (OSGF) operates as a Fund-of-Funds Vehicle, designed to offer co-investment assistance along with a centralized tracking and implementation mechanism. The predominant financial instruments utilized by OSGF prioritize equity or quasi-equity investments, reflecting its commitment to nurturing long-term growth and sustainability within the startup ecosystem.

Odisha boasts a flourishing startup landscape, home to over 1700+ dynamic startups, including 600+ women-led enterprises. This thriving ecosystem is supported by 15 nodal agencies, 27 incubators, and a centralized incubator ‘O-Hub’ that provides an impressive 4 lakh sqft of incubation space.

About Startup Odisha

Startup Odisha under the MSME Dept. Govt. of Odisha as the Nodal agency for building the startup and innovation ecosystem in the state, came into existence in 2016 with Odisha Startup Policy-2016. The vision is to introduce a holistic and inclusive ecosystem for the existing and aspiring startups, establish itself as one of the top startup hubs in the country, and enable the youth of Odisha to become Job-Creators and support the state in employment generation. With the unique support system under the Odisha Startup Policy 2016, Startup Odisha has supported Women/SC/ST/PH/Transgenders-led startups/ entrepreneurs by providing them with financial grants, subsidized incubation and exposure in participating in various national and international events. Since its inception, Startup Odisha has been home to the best entrepreneurial minds & has already supported and facilitated more than 1700+ Startups, with 600+ startups led by women directors, founders and co-founders. It houses the facilities and services ranging from a world-class infrastructure with state of an art facility called O Hub to the best Incubation facility supported by a proactive team, the aim is to take a leap for registering a minimum of another 5000 startups with recognition by 2025. Startup Odisha has been continuously evolving in its Policy measures, always ensuring to have a responsive policy framework. We have been the top performing Startup Hubs for three consecutive years in the country.

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Startup Odisha's Flagship Initiatives Startup Yatra and Startup Xpress 2023 Begins

Startup Odisha's Flagship Initiatives Startup Yatra and Startup Xpress 2023 Are Set to Revolutionize State's Entrepreneurial Landscape

• Aims To Nurture Innovation, Foster Entrepreneurship, And Scout Ideas from both school and college students and innovators across Odisha
• Odisha’s Chief Minister Naveen Patnaik Will Inaugurate Odisha Startup Yatra and Startup Xpress 2023, reinforcing Odisha's vision of fostering 5000 startups by 2025

Startup Odisha, an initiative of the MSME Department, Government of Odisha has today announced the launch of Odisha Startup Yatra and Starup Express 2023, the newest edition of its flagship initiatives. The initiatives will be flagged off by Hon’ble Chief Minister Shri Naveen Patnaik on 11th September. With a core focus on guiding and empowering young minds at the grassroot level in the realms of innovation and entrepreneurship, the initiatives seek to equip them for harnessing the ample opportunities within the startup ecosystem.

Through a series of engaging initiatives, including both Van Camps and Boot Camps for scouting innovative ideas, Startup Odisha will engage with educational institutions across the 30 districts in Odisha, involving 200+ colleges and 60+ schools thus impacting 25,000+ students. As part of these initiatives’ Startup Odisha will conduct 200+ van camps across colleges along with 60 van camps in various schools followed with more than 120 bootcamps generating over 3500+ ideas.

The past edition of Startup Odisha Yatra showcased remarkable achievements: spanning 30 districts, conducting 30 Bootcamps, hosting 114 Van camps, engaging 100+ colleges, which witnessed 1350 ideas and 10,270 students amongst which 22 top ideas were selected for the acceleration program culminating in the demo day where 11 finalists were awarded INR 1 lakh each.

The upcoming edition of the Startup Yatra aims to further take this endeavour to greater heights where atleast 50 shortlisted ideas will be invited for a 3-day Acceleration programme. Thereafter, top 25 Ideas will be invited to O-Hub for the demo day out of which 10 will be awarded seed funding worth INR 3,00,000 each to develop their ideas into viable startup ventures. A dedicated Mobile Application has been developed to collect the innovative ideas from the young innovators.

Additionally, top 20 ideas from Startup Xpress 2023 will be invited for final pitching out of which 10 ideas will be awarded with cash prize of INR 10,000 each to encourage these young students and build their entrepreneurial spirit.

Commenting on the importance of Startup Yatra 2023, Industries, MSME and Energy Minister, Shri Pratap Keshari Deb said, "As Odisha marches towards its mission of 5000 Startups by 2025, Odisha Startup Yatra and Startup Xpress 2023 will be pivotal in bringing innovative ideas to the forefront. With a track record of nurturing innovation, fostering entrepreneurship, and providing robust support to women entrepreneurs, these initiatives stand as a transformative experience, poised to accelerate the startup ecosystem's growth and success in the state.”

Dr. Omkar Rai, Executive Chairman of Startup Odisha said, “Odisha Startup Yatra and Startup Xpress 2023 marks a significant leap for Odisha's startup ecosystem. With 1700+ startups, including 42% led by women, and supported by 27 incubators, Odisha thrives as an entrepreneurial hub. These initiatives will empower students by offering insights, idea pitching, and a pathway to the acceleration program. We aspire for this journey to enhance entrepreneurship, catalyse innovative breakthroughs, and unify the state on its path to becoming a transformative ideas hub.”

Mr. Saswat Mishra, Principal Secretary, MSME Department, Government of Odisha said, “Odisha Startup Yatra and Startup Xpress 2023 represents a pivotal moment for Odisha's burgeoning startup landscape. It is set to empower our students, providing them with valuable insights, opportunities to pitch their ideas, and a clear pathway to help them build successful startups. the enthusiasm and eagerness of our youth to bring new ideas to life will exemplify the transformative power of entrepreneurship.”

The Odisha startup Yatra and Startup Xpress journey culminates with a grand finale in Bhubaneswar, where students can showcase their ideas and be awarded with cash prizes along with mentorship opportunities and legal guidance from Startup Odisha.

About Startup Odisha

Startup Odisha under the MSME Dept. Govt. of Odisha as the Nodal agency for building the startup and innovation ecosystem in the state, came into existence in 2016 with Odisha Startup Policy-2016. The vision is to introduce a holistic and inclusive ecosystem for the existing and aspiring startups, establish itself as one of the top startup hubs in the country, and enable the youth of Odisha to become Job-Creators and support the state in employment generation. With the unique support system under the Odisha Startup Policy 2016, Startup Odisha has supported Women/SC/ST/PH/Transgenders-led startups/ entrepreneurs by providing them with financial grants, subsidized incubation and exposure in participating in various national and international events. Since its inception, Startup Odisha has been home to the best entrepreneurial minds & has already supported and facilitated more than 1700+ Startups, with 600+ startups led by women directors, founders and co-founders. It houses the facilities and services ranging from a world-class infrastructure with state of an art facility called O Hub to the best Incubation facility supported by a proactive team, the aim is to take a leap for registering a minimum of another 5000 startups with recognition by 2025. Startup Odisha has been continuously evolving in its Policy measures, always ensuring to have a responsive policy framework. We have been the top performing Startup Hubs for three consecutive years in the country.

Overview of Startup Odisha Ecosystem

• 1700+ Recognised Startups
• 600+ Women Lead Startups
• 4 Lakh Sq. Ft O-Hub Incubation Centre for Startups
• 27 Incubators
• 15 Nodal Agencies
• 200+ Mentors
• 75+ E Cells
• 15 R&D Centres
• 15,000+ Jobs Generated
• 350.42 Crore Revenue Generated by Startups in FY: 2021 - 22
• 100 Crore Odisha Startup Growth Fund for Startups
• 21 Crore monetary benefits sanctioned to startups
• 357 Crore external investment raised by startups