FTBI at NIT Rourkela Marks 10 Years of Supporting Startups, Innovation and Employment Generation
By Payal Banarjee
Rourkela, May 21: The Foundation for Technology & Business Incubation (FTBI) centre of the National Institute of Technology (NIT) Rourkela celebrated its 10th Foundation Day. To mark the celebration, an event was organised at the FTBI premises, NIT Rourkela, to commemorate a decade of FTBI’s contribution to innovation-driven entrepreneurship and impactful incubation support in emerging technology and business domains since its inception in 2016. Shri Keshav Rao, Director (HR), Mahanadi Coalfields Limited (MCL), attended the programme as the Chief Guest. Dr. Chandan Bansal, MD, Medicine & Diabetologist and Managing Director of JP Hospital, graced the occasion as the Guest of Honour.
The ceremony commenced with a welcome note by Mr Chiranjib Samal (CEO, FTBI). “Our vision is simple – To support ideas and help them flourish and transform into successful entrepreneurship”, said Mr. Samal.
Speaking on the occasion, Prof. Subrata Kumar Panda, President, FTBI, said that FTBI has played a vital role in promoting the regional startup ecosystem by nurturing locally driven and student-led entrepreneurship in line with the “Vocal for Local” vision. He informed that FTBI has facilitated funding support of ₹10 crore for its incubatees, while startups incubated at FTBI have collectively raised over ₹70 crore. He further noted that the incubated startups have filed more than 30 patents, including 12 granted patents, and have generated nearly 700–1000 direct and indirect employment opportunities in the region. Since its inception, FTBI has incubated over 110 startups, comprising 85 male-led and 25 female-led ventures, with three startups achieving valuations exceeding ₹100 crore.
Appreciating FTBI’s efforts in strengthening regional entrepreneurship, Chief Guest Shri Keshav Rao, Director (HR), MCL, said, “It is wonderful to witness FTBI’s growth and its contribution towards building a vibrant startup ecosystem in the region. MCL has extended support to nearly 30 FTBI-incubated startups over the last three years through funding and incubation initiatives focused on innovation, skill development, R&D infrastructure, and women and tribal entrepreneurship. MCL also has invested over ₹375 crore towards CSR initiatives across Odisha in a single financial year. To boost startup culture, academic institutions should encourage students to pursue entrepreneurship by providing flexible opportunities to return to campus placements if their ventures do not succeed initially. Entrepreneurs must combine innovation with strong domain knowledge and market understanding, particularly in emerging sectors such as defence technologies, food, energy and cultural enterprises.”
During the event, FTBI, NIT Rourkela signed a Memorandum of Understanding (MoU) with Jaiprakash Hospital and Research Centre, Rourkela, to strengthen collaboration in healthcare innovation, medical technology and biotechnology research. The MoU aims to promote startup-driven healthcare solutions through joint research activities, clinical validation, prototype development, innovation programmes and knowledge exchange initiatives. The collaboration will also support incubation and mentorship for healthcare startups while creating opportunities for internships, industry exposure and interdisciplinary engagement between researchers, clinicians and entrepreneurs.
Signing the MoU, the Guest of Honour of the event, Dr. Chandan Bansal, MD Medicine & Diabetologist and Managing Director of JP Hospital, Rourkela, said, “We are pleased to collaborate with FTBI, NIT Rourkela in strengthening the healthcare innovation ecosystem in the region. This partnership will help integrate clinical expertise, academic prowess and emerging technologies to address real-world healthcare challenges through research, innovation and startup-driven solutions. As international medical conferences increasingly highlight academia & research-led medical innovations and healthcare biotechnologies, collaborations such as this MoU are important to encourage greater participation in global platforms.”
Prof. K. Umamaheshwar Rao, Director, NIT Rourkela, and Chairman, FTBI NIT Rourkela, extended special gratitude to Mahanadi Coalfield Limited (MCL) for its funding and engagement with FTBI over the years. He also appreciated JP Hospital management for extending its partnership with NIT Rourkela. Prof. Rao said, “The MoU intends to support healthcare startups and promote affordable, technology-enabled medical solutions with greater academic and societal impact.”
Prof. K. Umamaheshwar Rao, Director, NIT Rourkela, congratulated the FTBI team on completing a decade of impactful work and urged young entrepreneurs to focus on solving real-world challenges that directly affect society. He said, “The world is facing critical challenges in areas such as food, climate, cybersecurity and energy. Startups should also leverage AI to develop sustainable, efficient and socially impactful solutions that can address real-world challenges and contribute meaningfully to society.”
Concluding the inaugural session of the programme, Mr. Samal (CEO, FTBI) thanked the supporting organisations and stakeholders, including DST, MeitY, Startup Odisha, Startup India, MCL SAIL, GAIL, TEXMIN ISM Dhanbad, MSME, investors, collaborators, regional media, FTBI members, faculty, staff, students, and alumni of NIT Rourkela for their support.
The celebration also provided a platform for incubated startups to showcase their innovative products, technologies and entrepreneurial achievements developed under FTBI’s guidance and support. The event included networking interactions among startups, industry representatives, faculty members and guests. It concluded with a vision and commitment to strengthening the startup ecosystem and inspiring the next generation of entrepreneurs.
