Odisha govt approves Rs 1.28 Crore grant for 10 startups to drive entrepreneurial growth

Bhubaneswar: The Government of Odisha approved a grant of Rs 1,28,26,000 to 10 high-potential startups in the state. The grant is aimed at boosting innovation and entrepreneurship in Odisha and supporting the growth of startups in sectors such as Agri-tech, food and beverages, HR-Tech, enterprise technology, retail, education and logistics.

The grant was approved during the 2nd board meeting of Startup Odisha, an initiative backed by the Micro, Small, and Medium Enterprises (MSME) Department of Odisha. The meeting was chaired by Dr. Omkar Rai and participated by Saswat Mishra, Principal Secretary, MSME Department, Government of Odisha among others from Government, industry and academia.

This board committee dedicated to evaluate and approve financial assistance to recognised startups and incubators as well as formulating a comprehensive framework for the startup ecosystem to thrive.

The selected startups will receive the grant in tranches, based on their progress and milestones achieved. The grant will be used to support the startups’ research and development activities, product development &marketing activities, and other operational expenses.

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Amongst the selected startups are:

1. Axonotics – A Cuttack based IT solutions provider that helps in easily scanning any document in seconds for enabling a decision
2. EME Technologies– A delivery app for food and Grocery that has paved it wayfrom Bargarh
3. Foliyoo Technologies – Logistic solutions provider for both commercial and individual purposes founded from the capital, Bhubaneswar
4. Indersons Services – An enterprise software company based out of Sundergarh
5. Happiness Under Budget – A retail company from Khorda
6. Lex Protector – An intellectual Property service provider from Khorda
7. Sabhyasha Retail Tech – A One Stop Shop For Indian Handicraft Handloom from Khorda
8. Zentai Workforce – Integrated AI Driven Logistics Partner from Kalahandi
9. Kickstart Careers – An edtech company based out of Khorda
10. ManikstuAgro – A Kalahandi based agri-tech company

Dr. Omkar Rai, Executive Chairman, Startup Odisha said, “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”.

This marks another significant advancement in Chief Minister Naveen Patnaik’s firm commitment to nurture 5000 startups by 2025, steering Odisha towards its goal of establishing itself as one of India’s top 3 hubs for innovation.