100 Cube Start-up Conclave Inaugurated at IIM Sambalpur

Sambalpur: The 100 Cube Start-up Conclave kickstarted today at IIM Sambalpur with the inauguration of the I-Hub Foundation, a physical and virtual incubator aimed at nurturing innovative ventures. Dharmendra Pradhan, the Union Minister of Education and Skill Development & Entrepreneurship, Government of India, inaugurated the foundation, highlighting its pivotal role in supporting ventures across diverse sectors.

The I-Hub Foundation, established under Section 8 as a registered company, aims to foster innovation in textiles, arts & culture, agriculture, healthcare, financial & digital inclusivity, tribal entrepreneurship, and sustainability. The foundation’s launch coincides with the initiation of the 100 Cube Conclave, an ambitious initiative spearheaded by the Ministry of Education, Government of India, to establish 100 startups with an approximate valuation of INR 100 Crores each by Odisha’s centennial celebration in 2036.

The conclave witnessed the presence of esteemed dignitaries, including Prof Mahadeo Jaiswal (Director, IIM Sambalpur), Prof Manoj Kumar Tiwari (Director, IIM Mumbai), PM Prasad (MD, Coal India Ltd), Amrendu Prakash (CMD, Steel Authority Of India Ltd), Sanjiv Bajaj (MD, Bajaj Finserv), Rashmi Ranjan Mohapatra (MD Parry Enterprises), Nagaraja Prakasam (Author & Angel Investor), Jayanti Mahapatra (CEO & Founder Manikstu – GOAT Bank), Nirmit Parikh (Founder Apna), and Avinash Punekar (CEO iCREATE), along with faculty members and students.

During his address, Shri Pradhan emphasized the role of startups as wealth and job creators, highlighting the need to link resources with new ideas. He outlined priority sectors for startups, including healthcare, textiles, agriculture, mines, and minerals. Shri Pradhan stressed the importance of monetizing startup ideas, products, and projects.

Sanjiv Bajaj, MD, Bajaj Finserv, expressed his pleasure in being part of the 100-Cube Conclave, acknowledging India’s status as the fastest-growing economy and the third-largest startup nation globally. He encouraged aiming for not just 100 startups but setting a goal of at least ten unicorns.

Prof. Mahadeo Jaiswal, Director, IIM Sambalpur, expressed pride in hosting the conclave with a unique proposition, focusing on promoting local art, culture, and intellectual industry. He highlighted IIM Sambalpur’s commitment to nurturing individuals with an entrepreneurial mindset, emphasizing their status as the first institute in the country with the highest gender-diverse MBA classrooms.

The conclave featured informative sessions, fireside chats, and an exhibition showcasing startups from various districts of Odisha. The event concluded with a Startup Open Mic session, allowing startups and students to voice their expectations from the ecosystem, spearheaded by industry leaders and experts.