IIT Bhubaneswar to launch 100-CUBE Startup initiative Feb 11
The Indian Institute of Technology (IIT) Bhubaneswar is set to inaugurate its ambitious 100-CUBE Startup initiative on February 11, aiming to cultivate an ecosystem conducive to the growth of 100 startups, each aimed at achieving a valuation of Rs100 crore by 2036, aligning with the centenary of Odisha’s foundation. This announcement was made by institute director Shreepad Karmalkar, who underscored the initiative’s alignment with the National Education Policy (NEP) 2020’s emphasis on entrepreneurship and startup incubation.
Set to unfold at the institute’s expansive research and entrepreneurship park, the program promises not only mentorship and seed capital but also essential resources and connections with potential investors, bolstered by significant backing from the ministry of education. An expansion of the park’s facilities is envisioned, growing from the current 20,000 square feet to approximately 80,000 square feet within two years.
The initiative is not only about scale but also inclusivity and innovation, targeting startups across various sectors, genders, and geographies. It seeks to leverage India’s improved standing in global innovation rankings, with the aim of further climbing the ladder from the current 40th place. The kickoff event will feature technical workshops, strategic partnership signings with industries, startups, and venture capitalists, and the inauguration of a 1500-seat auditorium by Union Minister Dharmendra Pradhan, alongside laying the e-foundation for infrastructural projects valued at Rs450 crore.
Through this initiative, IIT Bhubaneswar reinforces its commitment to fostering a vibrant startup culture in Odisha and across India, championing the next generation of entrepreneurs in their journey from ideation to market.
