An induction program by FTBI –NITR for 32 start-ups with a total funding of Rs. 1 Crore, 50 lakhs.
NIT Rourkela: Foundation for Technology & Business Incubation (FTBI)-NIT Rourkela hosted a start-up induction program for 32 start-ups supported by schemes under DST NIDHI-PRAYAS, DST-NIDHI EIR, and MeitY (Ministry of Electronics and Information Technology). Those budding entrepreneurs/entities received Rs. 1 Crore 50 Lakhs as financial support.
Ms. Sushma Bilung, OAS, CEO of DMF Sundargarh graced the event as the Chief Guest. The chairman of FTBI-NITR Centre Prof. K. Umamaheshwar Rao (Director-NITR) presided over the programme. Prof R K Sahoo, Emeritus Prof. (HAG) was also present and encouraged the entrepreneurs.
The event started with an enthusiastic audience of more than 70 people in the FTBI smart classroom. Prof. Manoj Kumar Mishra (Head of Centre, FTBI) welcomed all and congratulated all the successful applicants from a total of 150 applications. He highlighted the strenuous exercises undertaken by the team and experts in selecting from a plethora of ideas and business entities. Those selected start-ups represent a diverse range of businesses like Deep Tech, Edutech, Biotech, Agritech, Textile, Smart Technology, Organic Farming, Cultural entities, etc. He listed the specific beneficiary from each scheme i.e. Rs. 1 crore is awarded to 20 start-ups under DST NIDHI PRAYAS; 10 entrepreneurs will Rs. 3.6 Lakh each provided by DST NIDHI EIR, and 2 start-ups to receive Rs. 7 lakhs each through MeitY funding. Additionally, 4 existing start-ups will receive assistance from Mahanadi Coalfield Limited (MCL). He also requested everybody to take these opportunities to work on their business ideas, nurture those, and make them into bigger and stronger entities with the assistance of FTBI-NIT Rourkela.
The Department of Science and Technology (DST) announced the National Initiative for Developing and Harnessing Innovations (NIDHI) as an umbrella programme for nurturing ideas and innovations into successful start-ups. The Entrepreneurs-in-Residence (EIR) Programme is one of the programs introduced under NIDHI to inspire the best talents to be entrepreneurs. DST-NIDHI’s PRAYAS (Promoting and Accelerating Young and Aspiring Technology Entrepreneurs) is a pre-incubation initiative to support young innovators. This support shall allow the innovators to try their ideas without fear of failure
Prof. K. Umamaheshwar Rao, Director NIT Rourkela and Chairman, FTBI also addressed the gathering at the event and said, “We are promoting those ideas which can change the lives around us and incubating that mind(s) which is(are) innovative in business. We are also extending opportunities to support start-ups from tribal areas or who are working to promote tribal empowerment. I urge everyone to think of sustainable innovations like energy-efficient technologies, waste reduction ideas, sustainable agriculture practices, and the integration of social responsibility into every innovative business.” He further highlighted the efforts undertaken by management to enhance the infrastructure of FTBI-NIT Rourkela and urged all to avail the benefits.
Chief Guest Ms. Sushma Bilung OAS, CEO-DMF applauded and congratulated all the selected start-ups and said, “District Mineral Foundation (DMF) work for the interest and benefit of people affected by mining-related operations. I have observed that till we identify the actual problem and accept their situation we can’t help the needy. We are looking for ideas and support from eligible youngsters who can volunteer for welfare work. This is just the start of your entrepreneurial journey, and society is waiting for solutions from young entrepreneurs. As most of the selected incubates are from Odisha we look forward to your support, which can bring the desired change for the deprived. Our collaborative efforts can surely bring possibilities to build a better world for all those underprivileged.”
Mr. Chiranjibi Samal (CEO, FTBI) organised and conducted the event and proposed a vote of thanks. He said that the startups who secured funding today work for different areas like robotics, virtual reality, drones for farming and fishing, hydroponics plants, wallet-fit BP measurement devices, composite farming, cave honey production, cost-effective handloom products, haptic gloves, bioprinters, AR-based smart-mirror, cleaning by drone, indoor plant health monitoring, quick news app, dual layer experimental skin patches, food distribution system for free food grain beneficiaries, plant-based batteries etc.
The function was assisted by Mr. Gauda, Mr. Surin, and Mr. Manoj, all from FTBI.