Startup Odisha – Since its inception, Startup Odisha has garnered attention from top business minds and has successfully assisted over 800 startups in launching. This initiative, established by the MSME Department of the Government of Odisha, is designed to promote the innovative ideas of aspiring entrepreneurs in the state, aiming to officially recognize them and their organizations as startups. Furthermore, it aims to foster the development of groundbreaking products and services, implementing ambitious ideas aimed at creating sustainable and profitable business models, which in turn will generate new job opportunities and boost state revenue. In this article, we will explore the Startup Odisha scheme, including its eligibility criteria and application process.
Overview of Startup Odisha
A remarkable initiative led by the Odisha Government, “Startup Odisha” aims to establish a global standard “Startup Hub” in the state, themed “A New Wave of Innovation.” This project promotes the ideas of budding entrepreneurs and offers a wide array of services and state-of-the-art infrastructure. Since its launch, one of its primary objectives has been to recognize a minimum of 1,000 new companies within the next five years.
The selection of Odisha stems from its status as one of India’s rapidly growing economies, an innovative ecosystem with advanced industrial clusters, projected to expand at a rate of 12%. The state has pioneered the Single Window Clearance System and Bhubaneswar has been rated as the third-best Indian city for business by the World Bank.
Mukhyamantri Krushi Udyog Yojana
#StartupOdishaYatra 2.0 has been launched to promote the culture of idea generation among youth and provides entrepreneurial exposure to young minds in #Odisha. The campaigns and bootcamps play a crucial role in identifying innovative thinkers in the state. pic.twitter.com/hESmAyeV4a — CMO Odisha (@CMO_Odisha) October 6, 2024
Portal Details for Startup Odisha
| Scheme Name | Startup Odisha |
| Launch Year | 2024 |
| Launched By | Odisha Government |
| Application Mode | Online |
| Objectives | Create a startup-friendly atmosphere and ecosystem. |
| Website | www.startupodisha.gov.in |
Objectives of Startup Odisha
- Establish a world-class “startup hub” by 2020.
- Encourage incubation to meet state needs.
- Provide skill-based training for supporting young businesses.
- Promote CSR options within Odisha-based ventures for startup skills and infrastructure.
- Create a conducive environment for 1,000 companies over five years.
- Develop a robust framework for implementation, monitoring, and assessment.
Benefits of Startup Odisha
The features and benefits provided by the scheme include:
- Development of global standard physical infrastructure.
- Promotion of creative thinking.
- Cultivation of an entrepreneurial culture through institutional education.
- Provision of necessary skills training for startups.
- Support for entrepreneurs, including a monthly allowance of INR 20,000 for registered and eligible startups for their first three months of operation, commencing 15 days post the initial period and extending for a year.
- Financial assistance of INR 15 lakhs for startups with an approved product development plan, with partial advance payments and the remainder deposited into their startup bank account.
Eligibility for Startup Odisha
- Entities must have an incorporation/registration date of less than five years.
- Annual revenue must not exceed INR 25 crores in the past fiscal years.
- The entity should focus on innovation and the commercialization of new products, processes, or services driven by technology or intellectual property.
- Must be registered in Odisha and employ at least 50% of its qualified workforce within the state.
- The entity cannot be an expansion of a family business nor formed through division or reorganization of an existing family firm.
- Foreigners can join by registering an LLP, ensuring foreign funding complies with FDI regulations. Foreign citizens, NRIs, or PIOs must self-register with MCA or the Registrar of Firms before registering on the Startup Odisha portal to avail the benefits.
Required Documents for Startup Odisha
- Aadhar Card or Voter ID.
- Educational Certificates.
- Email ID.
- Mobile Number.
Odisha Urban Wage Employment Scheme
Application Process for Registering with Startup Odisha
To register, follow these detailed steps:
- Visit the official website to access the homepage.
- Click the register link located in the upper-left section of the homepage.
- Select the startup option from the dropdown menu.
- On the new page, register as a new user by clicking the register button.
- Clicking the register button opens the registration form on the same page.
- Fill in the required details, including your name, username, email, password, and captcha code, then click on register.
- Your registration will be successful upon completion of the form.