Home Daily News Dharmendra Pradhan Launches100 Cube Start-Up Initiative at IIT Bhubaneswar

Dharmendra Pradhan Launches100 Cube Start-Up Initiative at IIT Bhubaneswar

by Nita Mishra

Union Minister for Education, Skill Development & Entrepreneurship, Dharmendra Pradhan, launched the 100Cube Start-Up initiative at IIT-Bhubaneswar’s Research and Entrepreneurship Park on Sunday.

The ambitious program aims to incubate 100 start-ups, each with a valuation of Rs 100 crores by Odisha’s 100th Anniversary in 2036. The Park will serve as a nurturing ground, providing essential resources, mentorship, seed capital, and access to potential investors.

Expanding its footprint, the Park is slated to grow from its current 20,000 square feet area to approximately 80,000 square feet over the next two years, supported by an allocation of Rs. 130 crore from the Ministry of Education.

During his inaugural address, Minister Pradhan underscored the historical significance of the event, drawing parallels to the iconic Konark temple. He celebrated Odisha’s rich legacy of innovation and envisioned a promising future driven by the dynamism of its youth, aligning with Prime Minister Modi’s vision of “Ek Bharat Shrestha Bharat.”

Highlighting India’s pivotal role in addressing global challenges, Minister Pradhan emphasized the need for collective solutions, leveraging the strength of institutions like IITs, NITs, and AICTE. He commended the increasing enrollment of girl students and the focus on STEM education, particularly lauding Odisha’s burgeoning start-up ecosystem, where 40% of ventures are led by women.

Emphasizing the importance of streamlining processes and enhancing access to resources, Minister Pradhan called for a concerted effort towards nurturing a supportive ecosystem for aspiring entrepreneurs. Anchored in the National Education Policy 2020, he advocated for a redefined education model emphasizing research, innovation, and entrepreneurship.

Dr. R.P. Singh, Chairman, Board of Governors, IIT Bhubaneswar, expressed confidence in the institution’s ability to lead in innovation and research, driving societal betterment through science and technology.

The event witnessed esteemed speakers, including industry leaders and policymakers, lauding the initiative’s significance in shaping India as a developed nation. The occasion also marked the signing of MoUs with 16 companies to foster strategic collaborations towards achieving the 100Cube objective.

Furthermore, Minister Pradhan inaugurated a 1500-seater auditorium and laid the e-foundation for infrastructure projects worth Rs. 450 crores, underscoring the government’s commitment to fostering innovation and entrepreneurship.

Parallel technical workshops conducted during the event aimed to provide valuable insights to faculty and start-ups, facilitated by experts from academia and industry.

Dr. Soobhankar Pati, CEO of Research & Entrepreneurship Park, IIT Bhubaneswar, extended the vote of thanks, highlighting the collective effort towards nurturing a vibrant start-up ecosystem in the country.

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