The Odisha government’s Startup Odisha initiative has introduced a new ₹100 crore fund called Odisha Startup Growth Fund. The fund will be managed by the Small Industries Development Bank of India (SIDBI), and the state government plans to infuse more money into it once the current amount is used.
In addition to the startup growth fund, the government also announced a ₹10 crore seed fund for Odisha’s incubation centre. These initiatives aim to boost the startup ecosystem in Odisha and provide financial support to emerging businesses in the state.
The Odisha Startup Growth Fund will play a crucial role in supporting startups by providing them with the necessary financial resources to grow and scale their operations. This fund will be managed by SIDBI, a government-owned financial institution that specializes in providing financial services and support to small industries and startups.
By establishing a dedicated fund for startups, the Odisha government aims to attract more entrepreneurs and encourage them to launch their ventures in the state. The fund will help startups overcome financial barriers and provide them with better access to capital, mentorship, and networking opportunities.
The announcement of the ₹10 crore seed fund for Odisha’s incubation centre is another significant step in nurturing the startup ecosystem. This fund will support early-stage startups and provide them with the necessary resources and infrastructure to build and grow their businesses.
Overall, the launch of the Odisha Startup Growth Fund and the seed fund for the incubation centre is expected to have a positive impact on the startup ecosystem in Odisha. It will create more opportunities for entrepreneurs, drive innovation, and contribute to the overall economic growth of the state.
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