On Sunday, Dharmendra Pradhan, union education minister, launched the Research and Entrepreneurship Park at IIT-Bhubaneswar. The initiative aims to nurture 100 startups to reach a valuation of Rs 100 crore each by Odisha’s 100th anniversary in 2036. To facilitate this objective, the park will offer essential resources, mentorship, seed capital and connections to potential investors. It was noted that the park’s expansion from its current 20,000-square-foot area to approximately 80,000-square-foot within the next two years will be supported by Rs 130 crore, according to an official statement.
Pradhan emphasised that the 100-Cube Start-up Initiative would significantly impact the entrepreneurial landscape of Odisha and India by fostering a conducive environment. Encouraging investment in Odisha-based startups, Pradhan urged entrepreneurs nationwide to participate in such ventures. He also called upon higher education institutions in Odisha and Eastern India to join the mission, the statement mentioned.
Additionally, IIT Bhubaneswar signed Memorandums of Understanding (MoUs) with 15 companies to establish strategic collaborations towards achieving the 100 Cube objective. Inaugurating the 1500-seater auditorium and laying the e-foundation for infrastructure projects worth Rs 450 crores, Pradhan marked significant milestones during the event.
RP Singh, chairman of the board of governors at IIT Bhubaneswar, underscored the importance of innovation and research, emphasising the responsible use of science and technology for societal advancement, it added.
With inputs from ANI.