CM Naveen Patnaik begins Startup India-Odisha Yatra, offers incubation and mentorship support

Odisha yatra

Odisha Chief Minister Naveen Patnaik has today launched the Startup India Odisha yatra to create awareness about startup and encourage the entrepreneurs and youths to set up their ventures in the state.

The Startup India-Odisha Yatra announced just before the Union budget which is slated to be commenced by Finance Minister Arun Jaitley on February 1.

The upcoming budget is also important as far as GST, Angel Tax and other issues related to setting a venture are concerned.

Recently, Indian startups have filed a petition through change.org against Angel Tax demanded by the income tax department. The petition will be sent to Union Finance Minister Arun Jaitley to bring government’s attention before the budget session commences next month.

Patnaik said the Yatra van would travel to 60 educational institutions across the 16 districts of the state, reports ET via PTI.

The selected ideas would be put to three days intensive acceleration programme and the best 50 innovators would be provided incubation and mentorship support to convert their ideas into startups, he added.

The proposed yatra will cover educational institutions in Khorda, Cuttack, Bhadrak, Balasore, Mayurbhanj, Keonjhar, Sundergarh, Jharsuguda, Sambalpur, Sonepur, Bolangir, Kalahandi, Koraput, Rayagada, and Ganjam districts.

During the yatra, 500 innovative ideas are likely to be pitched.

In the last eight months, 175 startups were registered with the Startup Odisha initiative and the government was fast moving towards the mission of 1000 Startups by 2020.

Additionally, 10 boot camps will be organized during the period at Fakir Mohan University, Balasore, VSSUT, Burla, Government Engineering College, Keonjhar, KIIT, Bhubaneswar, NIT Rourkela, Vikram Dev College Jeypore, Government Engineering College Kalahandi, NIST Berhampur and BPFTIO, Cuttack for the benefit of innovators and budding entrepreneurs.

The winners of the boot camps would get cash prizes, legal consultation, advisory services and mentorship support.

The prime objective of the one-month long yatra is to create awareness about the startup eco-system in tier 2, tier 3 towns and encourage the aspiring entrepreneurs and youth to set up their ventures in the state.

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