BALASORE: A Technology Business Incubator (TBI) was inaugurated at Fakir Mohan University (FMU) on Saturday by Union Minister of State for MSME Pratap Chandra Sarangi.
Assuring all help for the newly-established facility, the Minister said FMU is the first State-funded university in Odisha to have such an incubator. MSME can play a key role in boosting the employment potential of the country.
Urging students to discover their hidden talent and use it not only for their personal career development but also for the society, he said Odisha provides ample scope in the field of fisheries and animal husbandry where value addition and innovation can be made for creating jobs.
Vice Chancellor of the university, Prof Dinabandhu Sahoo said the incubator will help students hone their entrepreneurial skills, develop and nurture new ideas.
“Balasore is home to several industries and also close to both Bhubaneswar and Kolkata. The incubator will provide a much-needed economic boost to the area,” he said, adding the district is on its way to becoming a business and technology hub.
The students of the university would be taken to various industrial hubs across the country and provided guidance on the incubator taking forward their ideas on entrepreneurship.
A section-8 company will be formed in the university to facilitate funding from public and private sectors.
TBI is an incubator focused on supporting startups which use modern technologies as the primary means of innovation. Sarangi also inaugurated a residential complex ‘Krishna’ on the university campus.