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State has not produced a single entrepreneur in recent years, rues UCCI head

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OST Business Bureau

Bhubaneswar, Dec 20 :

Odisha has not seen a single entrepreneur emerge in the past few years, rues experts on the inaugural day of the three-day long “Invest Bhubaneswar” that kicked off here on Friday.

Ramesh Mohapatra, President,UCCI
Ramesh Mohapatra, President,UCCI

The 4th edition of Odisha Symposium 2013 is being attended by business tycoons, venture capitalists from different parts of the globe, NRIs, VC funding experts, management and engineering professionals, academicians, government officials and representatives from local industry associations.

“Invest Bhubaneswar is a platform created five years back to foster investment in Odisha,” UCCI president Ramesh Mohapatra said adding, “the event will act as a catalyst to attract youths in various disciplines to opt for entrepreneurship.”

Despite the state having well drafted policies like Agriculture Food processing policies, it has failed to create a single entrepreneur in these sectors so far, according to Mohapatra.

“Issues relating to finance to start a new project pose a huge roadblock for aspiring entrepreneurs, especially in the agriculture sector, where the credit disbursement is below 5% of the demand,” he added.

“Entrepreneurs should act as soldiers,” said tourism and hospitality tycoon J K Mohanty adding the tourism industry is still struggling to get domestic as well as foreign tourists to the state. “If at least one entrepreneur can be created per district, then the state will generate 30 entrepreneurs, which shall be a satisfactory proposition,” Mohanty said.

“Odisha has failed to make much headway as far as entrepreneurship is concerned. But having said this, the state has seen many Edu-entrepreneurs and they have created a big market,” said Rajeev Sahoo, noted Chartered Accountant.

“Education is the sector which has been able to attract much investment in the state,” said B Mohanty, a large miner having interest in steel and power, including the NRE production. Besides, he laid emphasis on more investment in agriculture and non-conventional energy like solar, wind and bio-mass etc.

Plenary discussion on subjects like ‘Odisha policies and Framework’ and ‘Incubation, Start up innovation’ will be held in the remaining two days of the event.