A Forward-looking Move: 100-cube start-ups planned at its Research and Entrepreneurship Park

By A.K. Sahoo

Bhubaneswar, Feb. 5: IIT-Bhubaneswar Research and Entrepreneurship Park is set to launch its transformative 100-cube start-up initiatives on February 11. The programme — to be inaugurated by Union education minister Dharmendra Pradhan — aims to create 100 start-ups , each with a valuation of Rs 100 crore by 2036 when the states  will be celebrating its 100th foundation day

To achieve this goal, the Park will provide essential resources, mentorship, seed capital and access to potential investors.

Professor Shreepad Karmalkar, director of IIT Bhubaneswar, said the Park is set to expand from its present 20,000 square feet area to about 80,000 square feet over the next two years with a support of Rs 130 crore from the Union ministry of education.

“The initiative finds inspiration in the enthusiasm of Union education minister Dharmendra Pradhan for a flourishing entrepreneurial milieu in Odisha, and aligns with Prime Minister Narendra Modi’s vision for Start-up India and Atmanirbhar Bharat initiatives. IIT Bhubaneswar is one of the second generation IITs, and has expertise in various domains including minerals and materials, artificial intelligence, climate science, smart infrastructure, renewable energy, semiconductor devices and integrated circuits,” said the IIT-Bhubaneswar director.

Tracing the paradigm shifts in the role of IITs, Professor Karmalkar said that the IITs were initially envisioned as institutions for generating new knowledge in the form of research papers, as well as producing high-quality human resources for industries, defense, research labs, and educational institutions.

The launch event on February 11 will feature parallel technical workshops for faculty and start-ups conducted by faculty heads of Research Parks of IITs, industrialists and venture capitalists during 11 am to 1 pm. This will be followed by signing of MoUs with nearly 20 industries, 30 start-ups, and 30 venture capitalists at during 2 pm to 4 pm to build strategic collaborations for achieving the 100-CUBE objective.

“In essence, the 100-Cube Start-up Initiative (CSIs) marks a significant milestone in IIT Bhubaneswar’s journey towards establishing Odisha as a hub of entrepreneurship and nurturing the start-up culture in the country,” said Professor Shreepad Karmalkar.

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Photograph: Professor Shreepad Karmalkar, director of IIT Bhubaneswar, along with other faculties members of the institute, addressing media persons on Monday.