The Micro, Small and Medium Enterprises (MSME) Department signed a memorandum of understanding (MoU) with the Software Technology Park of India (STPI), Bhubaneswar and eminent Odia writer and philanthropist Susmita Bagchi to establish a Centre of Excellence for Virtual and Augmented Reality (VARCoE) at the IIT here.
The MoU was signed in the presence of Chief Minister Naveen Patnaik.
The Chief Minister said the centre would be a landmark initiative for promoting research, technology incubation and product development in the country. It will cater to the Startups and new generation entrepreneurs working in the area of Virtual Augmented Reality for immersive visualisation and allied areas.
MSME Minisster Prafulla Samal said the State Government and the MSME Department are committed to achieve the vision of supporting 1000-Startups by 2020.
MSME ACS lN Gupta said nearly 162 Startups have been registered under the Startup Odisha Initiative and 20 of them are availing the benefits. Besides, four recognised and 20 other incubators are working across the State for incubation of the Startups.
Bagchi, who recently contributed Rs 2.5 crore to the IIT for the purpose, hoped that the VARCoE would be one of its kind in the country to promote research and technology development for the benefit of industry and the society.
IIT Director Prof RV Rajakumar said the VARCoE would be a state-of-the-art incubator for the benefit of Startups, researchers, faculty and budding entrepreneurs.
STPI Director General Omkar Rai said the STPI would work along with IIT, Bhubaneswar in empowering the Startups.