Home ECONOMY Odisha Govt to host startup conclave

Odisha Govt to host startup conclave

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Odisha Sun Times Bureau
Bhubaneswar, May 14:

Odisha Government plans to host a large scale ‘startup conclave’ in November this year to boost business culture and encourage upcoming entrepreneurs.

Pic Courtesy: businessworld.in
Pic Courtesy: businessworld.in

As many as 600 entrepreneurs from across the globe are likely to participate in it, said Industries Minister Debi Prasad Mishra speaking to reporters today.

The Minister, who recently flew to USA along with a delegation of the State Government to attract foreign investors to the state, also informed that talks are on with global investors to make the event successful. TiE Bhubaneswar, a not for profit global community, that promotes startup culture, has already submitted a proposal for organizing the event.

“The event most likely would be held in November. We expect businesses, educational institutions, venture capitalists and entrepreneurs to be in attendance in large numbers,” said Minister Mishra today while adding that the government is working on formulating a startup policy to promote and facilitate entrepreneurs.

The policy is expected to facilitate a host of incentives to attract new businesses within next three months. The draft policy envisages facilitating funding to the tune of Rs 250 crore for entrepreneurial activities by budding entrepreneurs within next five years. It also considers earmarking about 1% of the state budget for the same, apart from setting up 20 technology business incubators and at least 1000 technology product startups.