Bhubaneswar: IIT Bhubaneswar will nurture 100 startups, eyeing to make each of them worth Rs 100 crore by 2036, when Odisha celebrates the centenary year of the state’s formation.
Union education minister Dharmendra Pradhan will launch 100-Cube Start-up Initiative of IIT Bhubaneswar research and entrepreneurship Park on February 11 for this purpose.
Shreepad Karmalkar, director of IIT Bhubaneswar, said the institute has expertise in various domains, including minerals and materials, artificial intelligence (AI), climate science, smart infrastructure, renewable energy, semiconductor devices and integrated circuits. Experienced faculty members and researchers can mentor the startups apart from providing other facilities, he added.
He said IITs have been generating new knowledge in the form of research papers and producing high-quality human resource for various industries. These institutions have been tasked with applying their expertise to address societal problems through sponsored and consultancy projects, he added.
“Now, IITs have started contributing to wealth generation by fostering entrepreneurs and supporting startup incubation via establishment of research and entrepreneurship parks. We will use the knowledge and research ideas generated here for making products to help the country and make the youths entrepreneurs,” said Karmalkar.
He said India has substantially improved its global innovation rank from 76 in 2014 to 40 in 2023. The 100-Cube startup initiative promises to help improve the rank further by nurturing startups inclusive of gender, sector, and geography using a mind to market strategy. “This initiative marks a significant milestone in IIT Bhubaneswar’s journey towards establishing Odisha as a hub of entrepreneurship and nurturing the startup culture in the country,” he added.
Debi Prosad Dogra, director of IIT Bhubaneswar research and entrepreneurship Park, said currently 20 startups are working on the campus. This park works like a hub and spoke model. “We will provide necessary facilities like space and essential resources. We can even arrange seed money for them and connect the startups with potential investors,” he added.
He said a strategy will be prepared to make the startups turn into Rs 100-crore enterprises by 2036. Apart from Artificial Intelligence , deep tech and other technology fields, startsups can create ventures in several conventional sectors, including agriculture. Youths with great ideas or running startups can directly come to the entrepreneurship park to discuss with the expert members, he added.
The launch on February 11 will feature parallel technical workshops for faculty and startups.
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Union education minister Dharmendra Pradhan will launch 100-Cube Start-up Initiative of IIT Bhubaneswar research and entrepreneurship Park on February 11 for this purpose.
Shreepad Karmalkar, director of IIT Bhubaneswar, said the institute has expertise in various domains, including minerals and materials, artificial intelligence (AI), climate science, smart infrastructure, renewable energy, semiconductor devices and integrated circuits. Experienced faculty members and researchers can mentor the startups apart from providing other facilities, he added.
He said IITs have been generating new knowledge in the form of research papers and producing high-quality human resource for various industries. These institutions have been tasked with applying their expertise to address societal problems through sponsored and consultancy projects, he added.
“Now, IITs have started contributing to wealth generation by fostering entrepreneurs and supporting startup incubation via establishment of research and entrepreneurship parks. We will use the knowledge and research ideas generated here for making products to help the country and make the youths entrepreneurs,” said Karmalkar.
He said India has substantially improved its global innovation rank from 76 in 2014 to 40 in 2023. The 100-Cube startup initiative promises to help improve the rank further by nurturing startups inclusive of gender, sector, and geography using a mind to market strategy. “This initiative marks a significant milestone in IIT Bhubaneswar’s journey towards establishing Odisha as a hub of entrepreneurship and nurturing the startup culture in the country,” he added.
Debi Prosad Dogra, director of IIT Bhubaneswar research and entrepreneurship Park, said currently 20 startups are working on the campus. This park works like a hub and spoke model. “We will provide necessary facilities like space and essential resources. We can even arrange seed money for them and connect the startups with potential investors,” he added.
He said a strategy will be prepared to make the startups turn into Rs 100-crore enterprises by 2036. Apart from Artificial Intelligence , deep tech and other technology fields, startsups can create ventures in several conventional sectors, including agriculture. Youths with great ideas or running startups can directly come to the entrepreneurship park to discuss with the expert members, he added.
The launch on February 11 will feature parallel technical workshops for faculty and startups.
We also published the following articles recently
Startup-research collaboration: RINK, virology institute join hands
Thiruvananthapuram’s research innovation network Kerala (RINK) of Kerala Startup Mission (KSUM) and Institute of Advanced Virology (IAV) are collaborating. RINK visited IAV’s Life Sciences Park, exploring incubation and co-development opportunities. The visit highlighted KSUM’s support for startups and coincided with the inauguration of Cleomed Medical Systems Pvt Ltd at IAV’s incubation centre.
Thiruvananthapuram’s research innovation network Kerala (RINK) of Kerala Startup Mission (KSUM) and Institute of Advanced Virology (IAV) are collaborating. RINK visited IAV’s Life Sciences Park, exploring incubation and co-development opportunities. The visit highlighted KSUM’s support for startups and coincided with the inauguration of Cleomed Medical Systems Pvt Ltd at IAV’s incubation centre.