Odisha Ranked Top Performer In Startup Rankin
Bhubaneswar: In another feather to “Make in Odisha” movement. The state has been ranked as Top Performer in Startup Ranking at the National level during the year, 2018.
The launching of Startups in Odisha during 2017-18 has increased by 84% over the year 2015-16 against the national growth of around 62% during the same period. This was known from a high-level meeting held under the Chairmanship of Chief Secretary Asit Tripathy in Lokseba Bhawan conference hall today wherein Industry Secretary Hemant Sharma outlined the issues for discussion.
Reviewing the launching and progress of Odisha based startups, Chief Secretary Tripathy directed the department to examine the possibility institutionalizing the “the Fund of Funds” model as State Startup Fund. Comparative benefits & downfalls of different venture fund models were discussed in the meeting. Keeping in view Odishan context, it was considered that the “Fund of Funds” model would be more helpful and easy to access for Odisha based Secretary startups.ChiefTripathy directed to examine different contours of this model and formulate a detailed proposal. Further, Tripathy advised the concerned departments to augment the Start-up Ecosystem in the State by filling up the critical gaps through convergence so as to attract private venture capitals for Odisha Startups.