
Odisha, renowned for its rich mineral resources and vibrant cultural heritage, is steadily carving its niche as a prominent player in India’s startup ecosystem.
The Odisha Startup Policy has emerged as a cornerstone of the state’s entrepreneurial journey. Designed to support startups with incentives such as seed funding, incubation support, and tax benefits, the policy aims to create a world-class startup hub in Odisha in the near future.
It goes beyond the provisions of the government of India’s Startup Policy, offering additional incentives and exemptions to attract and nurture talent. With a key focus on developing an ecosystem that facilitates the growth of at least 5,000 startups within five years, it encourages sector-specific incubators aligned with Odisha’s strengths, such as minerals, IT, agri-tech, and clean-tech, and skill-based training programs to inspire youth to pursue entrepreneurship.
Odisha’s entrepreneurial landscape is thriving, with over 2,055 startups operating across diverse sectors, which includes women entrepreneurs, who have made significant strides, with 1,324 women-led startups contributing to the state’s economic and social fabric.
Premier institutions like IIT Bhubaneswar, NIT Rourkela, and KIIT provide a steady pipeline of talent and research support, while strategic partnerships and policy interventions by Startup Odisha further strengthen the ecosystem.
Last year, 587 new startups were registered, reflecting a growing interest in Odisha’s conducive environment. Initially 140 startups received seed funding, enabling them to develop and scale their innovative solutions, 21 startups secured venture funding, reflecting the growing investor confidence in Odisha-based ventures, one new incubator was supported, expanding the total incubation space to 5 lakh sqft and 50 startups were awarded purchase orders, promoting market access and revenue generation. The presence of 21 venture-funded startups underscores the state’s growing appeal as a destination for investment.
Odisha’s startup ecosystem is poised for transformative growth, driven by emerging trends, which would address critical challenges in agriculture, sustainability, and community development. The development of additional incubation spaces and sector-specific hubs will attract more startups and investors. Enhanced training programs will equip the youth with the skills needed to thrive in a competitive startup ecosystem. Also, the rise of women-led startups will continue to shape the entrepreneurial landscape, supported by targeted initiatives and incentives. Increased focus on artificial intelligence, blockchain, and IoT will drive innovation across industries.
The vision to establish a world-class startup hub in 2025 reflects Odisha’s commitment to fostering innovation and entrepreneurship. By leveraging its strengths and addressing emerging trends, the state is well on its way to becoming a leader in India’s startup revolution.
Pradipta Mohanty
(Author is the chairman of CII Odisha State Council)