The Odisha government has decided to set up a start-up hub with common facilities by March next year to create employment opportunities for youth in the State, an official said on Sunday.
The government has also given its in-principle approval to provide financial assistance to five startups and four incubators, he said.
“With the completion of the new start-up hub by March 2021, it would be a centre of excellence with co-working space, laboratory and common services under one roof,” the official said.
The decision for setting up the hub was taken at a State Startup Council Meeting chaired by Chief Secretary AK Tripathy here on November 13.
During the meeting, the State government gave its in- principle approval for providing financial assistance of around ₹2.88 crore to five start-ups and four incubators, he said.
Tripathy also directed officials to make a third-party assessment on the outcomes of the financial assistance to these units.
The chief secretary also asked them to strengthen the start-up ecosystem in Odisha through a strategic partnership and policy intervention.
The number of start-up ventures in Odisha has gone up to 774, which created 6,000 employment opportunities.
“The Council recognised the first start-up in June 2017. The number has increased to 774, including 250 women-led units, by November 2020,” the official said.
Financial assistance of over ₹15 crore has been provided to 196 start-ups and incubators, he added.