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The Government of Odisha recognizes the fact that the seeds of entrepreneurship and the instinctive ability to innovate must be nurtured through an enabling ecosystem, such as:
A Start up Capital Infrastructure fund with an initial corpus of Rs. 25 crore shall be setup to support development of hard and soft infrastructure for the start-up ecosystem in the State such as physical infrastructure for incubators including testing labs, design studio, tool rooms, virtual incubators etc.
Private State-specific funds shall be encouraged to setup operations in the State for funding Start ups and Start up ecosystem. Government may participate in SEBI approved early stage Seed/Venture Capital funds up-to 25% as Limited Partner allocating an initial corpus of Rs. 100 crore for the same.
Assistance once the Idea / Concept get commercialized
Assistance for Start up Funding
The Government shall encourage banks and other financial institutions to extend and enhance their lending facilities to Start ups and set up dedicated desks for Start ups in select branches for easy funding. The Government shall also encourage Angel Investors Network and various seed capital funding agencies to forge strategic partnership with industry/Start up associations in the State.
The State shall implement specific interventions to provide market opportunities and access for the start-ups registered in the State
The policy shall enable proper implementation and smooth functioning of all the provisions to facilitate the Start ups. The policy shall be governed by a 2-tier governance structure:
Start up Development Cells shall be established at each DIC and in identified Universities / Colleges, to provide the youth with requisite information regarding the Start up Policy and its provisions.
Each Start up Development Cell shall have a Ready Reckoner or Information Handbook on Doing Business for Start ups in English, Hindi and Odia languages.