BHUBANESWAR:The State Government has approved the proposals for registering three new institutions as nodal centres for certifying start-ups in specific sectors.The newly approved nodal agencies are Institute of Hotel Management, Catering Technology and Applied Nutrition (IHM), Bhubaneswar, Sri Sri University, Cuttack and National Institute of Science and Technology (NIST), Berhampur.
Nodal agencies are reputed institutions or organisations, which evaluate applications of start-ups for recognition under Start-up Odisha and for availing monetary incentives once recognised. Besides evaluation, the nodal agencies play a crucial role in development of entrepreneurial ecosystem by acting as mentors to start-ups and providing feedback where necessary.
While Sri Sri University will be the nodal agency to certify start-ups in agriculture, food processing and social entrepreneurship, IHM will be the certifying agency for ventures in hospitality and tourism sector. For start-ups in electronic system design and manufacturing (ESDM), embedded system and internet of things (IoT) and renewable energy, NIST will be the agency for evaluating proposals, said a notification of the MSME Department.
The department’s proposal for approval of the three new institutes as nodal agencies had got the nod of the Start-up Council last month. At present, six institutes of the State - Indian Institutes of Technology, Bhubaneswar, National Institute of Technology, Rourkela, Software Technology Park of India, Bhubaneswar, Odisha University of Agriculture and Technology, Institute of Minerals and Materials Technology, Bhubaneswar and NIFT, Bhubaneswar - are functioning as nodal agencies.
In order to avail the benefits announced in the Start-up Odisha initiative, an entity is required to be recognised as a start-up. Applications of registering entities need to be reviewed by an expert committee of the nodal agency.
The State has made rapid stride in its start-up initiative with around 20 ventures getting recognised by the Government every month which is more than the national average. The rate of registration of start-ups in Odisha is higher than the national average. The national average is around 17 to 18 units per month. Around 30 units in the State have been provided various benefits like monthly allowance, product development assistance, need-based assistance, reimbursement of expenses and one-time matching capital grant, official sources said.