Union Education Minister Dharmendra Pradhan unveiled an ambitious initiative by IIT-Bhubaneswar aimed at nurturing 100 startups, each with a valuation of Rs 100 crore, by 2036. The program, named the Research and Entrepreneurship Park, will offer crucial resources, mentorship, seed capital, and access to potential investors.
During the launch event, Pradhan emphasized the entrepreneurial spirit among the youth of Odisha and the nation, expressing confidence that the 100-Cube Start-up Initiative would shape the future entrepreneurship landscape. He urged entrepreneurs to invest in Odisha-related startups and called upon higher education institutions from the region to join the mission.
The Research and Entrepreneurship Park is poised for significant expansion, quadrupling its current area to about 80,000 square feet in the next two years, supported by a budget of Rs 130 crore.
As part of the initiative, IIT Bhubaneswar inked MoUs with 15 companies to foster strategic collaborations. Additionally, the Union Minister inaugurated a 1500-seater auditorium and laid the foundation for infrastructure projects worth Rs. 450 crores.
RP Singh, Chairman of the Board of Governors at IIT Bhubaneswar, emphasized the importance of innovation and research in leveraging science and technology for societal advancement, expressing confidence in IIT Bhubaneswar’s leading role in achieving the initiative’s objectives.