Odisha Govt Finalises Start-up Policy

BHUBANESWAR: The Odisha government has finalised the draft start-up policy after incorporating suggestions from all stakeholders.

The draft policy will now be put for the concurrence of the Finance Department and the approval of the state cabinet before implementation.

“Appropriate steps may kindly be taken early for piloting of the Draft Odisha Start-up Policy- 2016′ after obtaining the approval of the Cabinet,” the industries department told Micro, Small & Medium Enterprises (MSME)department principal secretary Gagan Dhal.

The state government had prepared the draft of the start-up policy and put it in the public domain during April-May seeking suggestions from stakeholders to furnish a comprehensive and effective policy for the promotion of start-ups in the state.

“We have received some suggestions from experts and public to prepare the policy. Some best suggestions have been incorporated before finalisation of the policy,” said an official of Industry department.

The suggestions include special focus on market access for start-ups, the appointment of three to four top performing incubators in the country such as the Centre for Innovation Incubation and Entrepreneurship and the Indian Institute of Management, Ahmedabad as nodal agencies for various sectoral start-ups.

Besides, grant of Rs 5 to Rs 20 crore initial capital support per incubator to create infrastructure and run facilities with competent professional to create a viable start-up ecosystem.

The government plans to develop Odisha as a world-class start-up hub by 2020 and has as its core objective the facilitation of at least 1,000 start-ups in the next five years.