The IIT Bhubaneswar opened a startup centre at the Toshali Bhawan here on Monday.
IIT Bhubaneswar Director Prof RV Raja Kumar inaugurated the centre, which is envisioned to have enrolment of 10 startups in the first year of its commencement. The Department of Science and Technology and the Human Resource Development Ministry had sanctioned Rs1.50 crore for establishing the startup centre. The facility would provide working space and a seed grant to the tune of Rs2.5 lakh for the enrolled startups. The centre would invite applications from budding entrepreneurs and competent fresh graduates from the State and in and around the region to avail the facility.
The IIT Bhubaneswar is applying for establishing a Research and Entrepreneurship Park with a financial outlay of Rs75 crore, which would come up at its permanent campus to facilitate incubation of technologies and promote startups, said the Director.