On February 11, IIT Bhubaneswar will introduce the 100-CUBE Startup initiative.

IIT-B: The park will grow from 20,000 square feet to roughly 80,000 square feet over the course of the next two years with assistance from the ministry of education, according to the director of the institute.NEW DELHI: According to institute director Shreepad Karmalkar, the Indian Institute of Technology (IIT) Bhubaneswar will unveil its groundbreaking 100-CUBE Startup program at its research and entrepreneurship park on February 11. This announcement was made here on Monday. By the time Odisha celebrates its centennial in 2036, the goal of this effort is to establish 100 companies, each valued at Rs 100 crore, according to Karmalkar. He underlined that in order to accomplish this, the park would offer crucial tools, guidance, startup funding, and connections to possible investors.Over the next two years, the park will grow from 20,000 square feet to roughly 80,000 square feet thanks to kind support from the ministry of education, he continued. According to him, this program is in line with the National Education Policy (NEP) 2020's objectives, which center on encouraging entrepreneurship and aiding in company incubation.

Karmalkar emphasized that, based on India's notable increase in the global innovation rank from 76 in 2014 to 40 in 2023, the next 25 years will be driven by startups.According to him, the 100-CUBE Startup initiative uses a mind-to-market strategy to support companies in all sectors, genders, and geographical areas in an effort to improve this ranking even more. On February 11, faculty heads of IIT research parks, businesspeople, and venture capitalists will lead concurrent technical workshops for faculty and entrepreneurs. The signing of Memorandums of Understanding (MoUs) with around 20 sectors, 30 startups, and 30 venture capitalists would come next, he continued, in order to establish strategic partnerships for accomplishing the 100-CUBE goal.According to organizers, Union Minister Dharmendra Pradhan will formally open the 1500-seat auditorium and lay the groundwork for infrastructure projects valued at Rs 450 crore. He continued, saying that all things considered, the program represents a critical turning point in IIT Bhubaneswar's efforts to develop the startup culture in the nation and position Odisha as a center of entrepreneurship.