What Is 100 Cube Startup Initiative By IIT-Bhubaneswar? Check out here

In a bid to foster innovation and entrepreneurial spirit, Union Education Minister Dharmendra Pradhan inaugurated the groundbreaking '100 Cube' initiative at IIT-Bhubaneswar's Research and Entrepreneurship Park on Sunday. This initiative aims to incubate and nurture 100 startups, each with a valuation of Rs 100 crore, by the year 2036, aligning with the centennial celebration of Odisha.

Empowering Startups for a Thriving Future

The '100 Cube' initiative, as outlined by an official statement, pledges comprehensive support to budding entrepreneurs, encompassing vital resources, mentorship programs, seed capital, and facilitation of investor connections. The expansion of the Research and Entrepreneurship Park, slated to quadruple its current area to approximately 80,000 square feet over the next two years with an infusion of Rs 130 crore, underscores the commitment to nurturing a vibrant startup ecosystem.

Addressing the gathering, Minister Pradhan underscored the indomitable spirit of the youth in Odisha and across the nation, expressing confidence that the '100 Cube' initiative would serve as a catalyst in shaping the entrepreneurial landscape of the region and the country at large. He urged entrepreneurs to explore opportunities in Odisha and emphasized the role of educational institutions in fostering innovation.

Strategic Collaborations and Infrastructural Milestones

During the event, significant strides were made towards realizing the '100 Cube' vision. IIT Bhubaneswar inked Memorandums of Understanding (MoUs) with 15 companies, paving the way for strategic partnerships vital for achieving the ambitious startup targets. Additionally, the inauguration of a state-of-the-art 1500-seater auditorium and the laying of the e-foundation for infrastructure projects worth Rs. 450 crores marked significant milestones in the journey towards fostering innovation and research.

RP Singh, Chairman of the Board of Governors at IIT Bhubaneswar, emphasized the pivotal role of innovation and research in societal progress, highlighting the institute's commitment to lead the charge in this transformative journey.

"I am confident that IIT Bhubaneswar will play a lead role in achieving the same," Singh remarked, underscoring the institute's dedication to leveraging science and technology for the betterment of society.

The launch of the '100 Cube' initiative heralds a new era of innovation and entrepreneurship, with stakeholders converging to catalyze the growth of startups and pave the way for a dynamic and thriving entrepreneurial ecosystem in Odisha and beyond.

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