Union Minister Dharmendra Pradhan inaugurates '100 Cube' startup initiative at IIT-Bhubaneswar
- In Reports
- 01:32 PM, Feb 12, 2024
- Myind Staff
Union Education Minister Dharmendra Pradhan has inaugurated the Research and Entrepreneurship Park at IIT-Bhubaneswar, with the ambitious goal of fostering the creation of 100 startups, each valued at Rs 100 crore by the year 2036.
An official statement reveals that the programme is geared towards the establishment of 100 startups, each attaining a valuation of Rs 100 crore. The objective is to achieve this milestone by the centenary celebration of Odisha in 2036.
The park management disclosed that to accomplish this ambitious goal, essential resources, mentorship, seed capital, and access to potential investors will be made available. They further stated that the park is slated for expansion from its current 20,000-square-foot area to approximately 80,000-square-foot within the next two years, facilitated by a financial backing of Rs 130 crore.
Speaking at the event, the Union Minister emphasized the vibrant entrepreneurial spirit among the youth of Odisha and across the nation, highlighting their fervor and eagerness to transform innovative ideas into thriving enterprises.
He expressed that the 100-Cube Start-up Initiative holds the potential to significantly influence the entrepreneurial landscape of Odisha and India, shaping a conducive environment for the growth and success of budding ventures.
Emphasizing the potential for growth in startups originating from Odisha, he urged entrepreneurs nationwide to actively participate and invest in such endeavors. Pradhan also urged higher education institutions in Odisha and Eastern India to join forces in advancing this mission.
During the event, IIT Bhubaneswar forged Memorandums of Understanding (MoUs) with 15 companies, marking the commencement of strategic collaborations aimed at realizing the objectives of the 100 Cube initiative.
Additionally, the Union Minister formally inaugurated a 1500-seater auditorium, which served as the venue for the event. Furthermore, he laid the e-foundation for infrastructure projects worth Rs. 450 crores.
RP Singh, Chairman of the Board of Governors at IIT Bhubaneswar, underscored the importance of innovation and research, emphasizing the need for a balanced approach in harnessing science and technology for the advancement of society.
Singh expressed confidence in IIT Bhubaneswar's capability to take a leading role in accomplishing this objective.
Image source: ANI
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