Financial assistance sanctioned to nine start-ups in Odisha


Bhubaneswar: The Task force of startup approved financial assistance of Rs 38 lakh to nine startups in Odisha.

The financial aid was sancationed at the 11th meeting of the Task Force of Startup Odisha, chaired by Additional Chief Secretary of MSME department LN Gupta on Friday. Product development and marketing assistance of Rs 28 lakh was provided to five start-ups.

The startups are Phoenix Robotix Pvt Ltd, Orbonix Labs Pvt Ltd, Iservu Technology Pvt Ltd, Inksand Art and Crafts India Pvt Ltd and Santan Fertility Centre and Research Institute Pvt Ltd.

While Phoenix Robotix is working in the area of Internet of Things (IoT) and Smart Sensors, Iservu Technology is a Fin-Tech startup. Similarly, Inksand Art and Crafts works in the field of handicrafts and Orbonix Labs and Santan Fertility Centre in healthcare.

The Task Force also sanctioned monthly assistance of Rs 10 lakh in favour of four startups – Inhof Technologies Pvt Ltd, Basal Initiatives Pvt Ltd, Krushaco Services Pvt Ltd and Sarala Powertech Consulting Engineers LLP.

The Task Force accorded recognition to two new incubators – CTTC Innovation and Incubation Centre, Bhubaneswar and Incuvations Foundation, NIST, Behrampur.With this, the number of startups receiving financial benefits went up to 61. Similarly, the number of incubators approved under Startup Odisha touched 11 with total incubation space of more than 4.2 lakh square feet.

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