BHUBANESWAR: In a bid to promote an ecosystem for attracting more investment in start-up business, the State Start-up Council on Thursday approved a proposal for setting up start-up hubs in major cities of Odisha.The decision was taken at a meeting of the Council held under the chairmanship of Chief Secretary Aditya Prasad Padhi in the Secretariat here. Reviewing the progress of implementation of the Start-up Policy, Padhi asked the Micro, Small and Medium Enterprises (MSME) department to prepare a detailed business plan of the proposed hubs for its effective management and operation. 

The meeting decided to organise a national level Start-up Conclave in Odisha to strengthen local start-ups. Padhi directed MSME department to make the conclave outcome-oriented in terms of attracting investment in innovative start-ups.

Recognised as a top performer in the country as per the State Start-up Ranking, 2018, Odisha has extended financial and other support to 73 start-ups and incubators out of 592 such ventures registered through Odisha Start-up Portal. The Start-up Council has recognised 423 registered proposals including 138 women-led start-ups. “Around 110 mentors have been registered and 12 incubators made functional. A total of 12 nodal agencies have been impanelled for recommending innovative start-ups and 66 entrepreneurship-cum-start-up cells set up,” said Additional Chief Secretary, MSME Laxmi Narayan Gupta. 

The expression of interest by ICAR-NRRI, Cuttack to function as another nodal agency was discussed and approved in the meeting. Director, Industries Pranabjyoti Nath said out of 423 recognised start-ups, around 18 per cent are in IT service sector, nine per cent each in healthcare and life-science, green technology, analytics and artificial intelligence, agriculture, food and beverages, five per cent in education, three per cent in travel and tourism and 38 per cent in other sectors.

He said 197 start-ups have created job opportunities for 2,017 youths. This number is expected to grow in coming years. Issues relating to need-based assistance to start-ups, one-time capital grant to incubators, setting up start-up hubs, start-up seed fund, introduction of start-up and entrepreneurship courses in universities and schools and strengthening of start-up secretariat were discussed. 

Gupta said the State Start-up Ranking was done on the basis of 38 parameters in seven key reform areas such as policy implementation, incubation support, seed funding support, angel and venture capital funding support, simplified regulations, easing public procurement, awareness and outreach.