BHUBANESWAR: As many as 112 start-ups in different sectors have been recognised by the Startup Odisha Initiative in the last two months. At the third meeting of the Task Force, chaired by Additional Chief Secretary, MSME Department LN Gupta here on Monday, it emerged that 19 more startup applications are under process for recognition.
The Task Force also approved monthly allowance grant of Rs 20,000 for seven start-ups. So far, 5 startups are entitled to get monthly allowance under the Odisha Startup Initiative.
The panel also approved need-based assistance of `4 lakh for one startup while recommending to the Start-up Council for approving monthly assistance and product development and marketing assistance to one start-up each in relaxation of the existing eligibility conditions.
Most of the start-ups are working on innovating areas. The meeting revealed that Arrelic Reliability Ltd. is developing IOT Framework for industrial maintenance, while Vasitars Pvt Ltd is developing polymer technology for conventional sealing of leakage in steel pipes. Similarly, Ordino Labs Pvt. Ltd is developing a GPS for vehicle, smart home and industrial automation, with current employment of 15 persons.
The Task Force also discussed the formation of Bhubaneswar Angel Network. The members of the network assured to register the network as a society as soon as possible.Representative of Invest India Akankshya Kapoor informed that Amazon Web Service (AWS) has agreed to offer $1000 worth cloud credit to all Odisha based Startups which have received support under the Odisha Startup Initiative. This would mean all the 15 Startups, approved for monthly assistance, are now eligible for this benefit.
Kapoor also informed that Zoho has extended support to all the startups registered under Startup Odisha Initiative which was appreciated by the Task Force.
The meeting was attended by Commissioner-cum-Secretary, Skill Development and Technical Education Sanjay Kumar Singh, CEO & MD, Milk Mantra Srikumar Mishra, Prof Ankush Sharma of IIT, Bhubaneswar, Rajib Sahoo, President, TiE, Bhubaneswar among others.