IIT Bhubaneswar Launched 100-CUBE Startup Initiative by Union Minister Pradhan on February 11

New Delhi: Union Education Minister, Dharmendra Pradhan launched the groundbreaking 100-CUBE Startup project by IIT Bhubaneswar on February 11, 2024. This initiative aims to establish 100 startups, each valued at INR 100 Crore before the 100th anniversary of Odisha's creation in 2036.

IIT Bhubaneswar's 100-CUBE Startup initiative will support businesses across all genders, sectors, and regions through a mind-to-market strategy. The launch event featured technical workshops for academics and entrepreneurs led by faculty leaders of IIT research parks, industrialists, and venture capitalists. 

The inauguration took place at its research and entrepreneurship park, which provides essential tools, mentorship, funding for startups, and access to potential investors. During the inaugeration event, Dharmendra Pradhan said that innovation is “in the DNA of Odia society”. “After seeing the new ideas and innovations of our youths, I am confident that 100 startups will be created by 2036,” he said.

Paving the Way for Future Initiatives, IT Bhubaneswar Set to Sign MoUs with Industries

As a part of this initiative, IIT Bhubaneswar will sign a Memorandum of Understanding (MoU) with over 20 industries, 30 startups, and 30 venture capitalists. This step will be taken to foster strategic collaborations to achieve the goal of the 100-CUBE project by 2036.

IIT Bhubaneswar will expand its research park from 20,000 to 80,000 square feet over the next two years with the help of considerable funding from the Ministry of Education. The initiative is in line with the purpose of the National Education Policy (NEP) 2020.

Additionally, Union Minister Dharmendra Pradhan also inaugurated the 1500-seat auditorium and laid the e-foundation for infrastructure projects worth INR 450 crore. These initiatives taken by the institute are a step to promote Odisha as an entrepreneurial hub and foster the country's startup culture.

“The youth of Odisha and India are full of passion and enthusiasm towards turning their ideas into successful ventures," said Pradhan, addressing a gathering of more than 1500 people from various industries, educational institutions, start-ups, venture capitalists and students at IIT Bhubaneswar.

Listing the challenges ahead, Pradhan stressed the importance of streamlining processes, enhancing access to information, markets, and funds for aspiring entrepreneurs and called for a collective effort towards a 'Viksit Bharat', while emphasizing the need for a supportive ecosystem and interconnectivity among institutions and stakeholders. He also advocated for a redefined model of education focused on research, innovation, and entrepreneurship, with a strong emphasis on student-faculty partnerships

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