Bhubaneswar, Feb 6: Union Education, Skill Development and Entrepreneurship Minister Dharmendra Pradhan will inaugurate the 100-CUBE Start-Up initiative in the IIT Bhubaneswar premises on February 11.

The IIT Bhubaneswar’s Research and Entrepreneurship Park will launch this transformative programme, which aims to create 100 startups, each with a valuation of Rs 100 crore by the 100th anniversary of Odisha in 2036. 

The park will provide essential resources, mentorship, seed capital and access to potential investors. The park will be expanded from a 20,000 sqft area to about 80,000 sqft in two years with Rs 130 crore to be provided by the Ministry of Education.

“IIT Bhubaneswar has expertise in various domains, including minerals and materials, artificial intelligence, climate science, smart infrastructure, renewable energy, semiconductor devices and integrated circuits etc. It has taken up the startup initiated to create employment and make youth self-reliant,”  said IIT Bhubaneswar Director Prof Shreepad Karmalkar. 

The launch event on February 11 will feature parallel technical workshops for faculty and start-ups and followed by the signing of MoUs with nearly 20 industries, 30 startups, and 30 venture capitalists to build strategic collaborations for achieving the 100-CUBE objective, informed the director.

Union Minister Pradhan will officially open the 1,500-seat auditorium hosting the event, and lay the e-foundation for infrastructure projects worth Rs 450 crore, he said. 

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