“100-Cube Start-Up” Initiative Launched by Union Minister Dharmendra Pradhan at IIT Bhubaneswar’s Research and Entrepreneurship Park

Bhubaneswar: In a historic move, Dharmendra Pradhan,  Union Minister for Education, Skill Development & Entrepreneurship, launched the groundbreaking “100-Cube Start-Up” initiative at IIT Bhubaneswar’s Research and Entrepreneurship Park. The visionary program, unveiled today, aims to nurture and develop 100 start-ups, each with a valuation of Rs. 100 crores by the 100th Anniversary of Odisha in 2036.

With a commitment to providing essential resources, mentorship, seed capital, and access to potential investors, the Research and Entrepreneurship Park is set to expand from its current 20,000 square feet to approximately 80,000 square feet over the next two years. This expansion is made possible by the generous support of Rs. 130 crores from the Ministry of Education.

During the inauguration of the “100-Cube Odisha,” Minister Dharmendra Pradhan highlighted the monumental significance of the event, drawing parallels to the historic Konark. He traced Odisha’s rich history of innovation back to the 19th century, emphasizing the state’s architectural marvels and temples. The Minister envisioned a bright future, acknowledging the dynamism of the youth and their potential to drive change in alignment with PM Modi’s vision of “Ek Bharat Shresth Bharat.”

Minister Pradhan underscored India’s crucial role in providing collective solutions to global challenges, leveraging the demographic dividend and the prowess of institutions like IITs, NITs, and AICTE. Celebrating the increase in girl student enrollment and the prioritization of STEM education, he commended the burgeoning start-up ecosystem in Odisha, particularly the significant presence of women leaders in the sector.

Addressing the challenges ahead, the Minister stressed the importance of streamlining processes, enhancing access to information, markets, and funds for aspiring entrepreneurs. He called for a collective effort towards a ‘Viksit Bharat,’ emphasizing the need for a supportive ecosystem and interconnectivity among institutions and stakeholders.

Aligned with the National Education Policy 2020, Minister Pradhan advocated for a redefined model of education focused on research, innovation, and entrepreneurship. He urged the faculty of IIT Bhubaneswar to lead by example, fostering collaborations with other institutions and industry professionals, ultimately propelling India’s start-up ecosystem onto the global stage.

Several esteemed personalities including Shri T. V. Narendran, MD & CEO, Tata Steel; Dr. Vivek Lall, Chief Executive at General Atomics Global Corporation; and Dr. Chintan Vaishnav, Mission Director, Atal Innovation Mission, NITI Ayog, among others, spoke on the occasion, lauding the initiative’s significance in shaping India as a developed nation.

The launch of the “100-Cube Start-Up” initiative was followed by the signing of MoUs with 15 companies for strategic collaborations and the presentation of grant cheques worth Rs. 3.5 crores to 4 start-ups incubated by IIT Bhubaneswar. The Hon’ble Minister also officially inaugurated a 1500-seater auditorium and laid the e-foundation for infrastructure projects worth Rs. 450 crores.

Prior to the launch ceremony, parallel technical workshops for faculty and start-ups were conducted by Faculty Heads of Research Parks of IITs, Industrialists, and Venture Capitalists, further enriching the vibrant atmosphere of innovation and collaboration.

Dr. Soobhankar Pati, CEO, Research & Entrepreneurship Park, IIT Bhubaneswar, proposed the vote of thanks, expressing gratitude for the collective efforts and envisioning a future where Odisha stands as a hub of entrepreneurship and innovation.