IIT Bhubaneswar established a start-up center at the Toshali Bhawan. The Dept. of Science and Technology and the Ministry of Human Resource Development, Govt. of India approved Rs. 1.50 crore for the investiture of this start-up center.
It was inaugurated by Professor R.V. Raja Kumar, Director, IIT BBSR. The main purpose of this set up is to boost the young entrepreneurs and provide support to the fresh graduates.
According to Dr. Kumar, their aim is to enroll 10 start-ups in the 1st year of its commencement with the grant of Rs. 2.5 lakh.
He also said that they are planning to open a research and entrepreneurship park with the expenditure of Rs. 75 crore, in its campus, to facilitate the development of new technologies and to promote the start-ups.
In February, IIT, BBSR constituted the e-summit 2016- a student level entrepreneurial meet, with the theme “Industry 4.0”. The main focus of this 3-day summit was to promote the “Make In India “concept by inspiring IT into manufacturing process.
In that event, IIT arranged no. of competitions among the students. Also, it organized various exhibitions of products and services by start-ups. Now this took the image of success.