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Odisha to unveil start-up policy, Infovalley master plan at Investors Meet

Tue, 16th Aug 2016 (Source:Business Standard)

Chief Minister Naveen Patnaik is set to unveil Odisha's start-up policy and the master plan for Infovalley, the upcoming hub for IT and ITes units at the Global Investors' meet organised by the state government in Bangalore on August 25-26.

The Investors summit is being held in collaboration with the Karnataka government and Confederation of Indian Industries (CII). The event is likely to witness the participation of top corporate houses in the country.

In the start-up policy, Odisha aims to be among the top three start-up destinations in India by 2020 and to develop a robust ecosystem in five cities of Odisha by 2020.

 

The objective of the draft policy also 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 1% 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 start-ups, develop 0.5 million square feet (sq ft) of incubation space, facilitate venture capital funding of a minimum of Rs 1,000 crore, setting up of facilitation centre in each district and single window clearance facility, among others.

At the Investors' meet, Patnaik would have a one on one with top industry captains. The ministers and secretaries of concerned departments will also hold discussions with the industry partners. Around 300 interested large and medium industries have been enlisted basing on their interest for investment in Odisha. The companies are from the sectors like engineering, IT, hardware, aviation, textiles, medical devices, lubricants, aerospace, beverages, telecom, defense, transport and consumer durables.

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