The Infocity at Patia in Bhubaneswar. Telegraph picture
Bhubaneswar, Feb. 12: The state government is taking steps to expedite the process of setting up a modern IT incubation centre to help the start-up companies to achieve better business opportunities.
The Odisha Industrial Infrastructure Development Corporation (Idco) will execute the project in the city at a cost of Rs 169.77 crore.
The centre will have a twin-tower structure, which will be established at the Infocity in Patia.
A source said that the twin tower with 12 floors each would come up on an area of around 2 acre.
"The incubation centre will have a furnished IT space with modern facilities which will help in improving business climate of the state. The start-ups will also have a designated space here," said an Idco official.
The incubation centre is expected to provide direct employment to about 60,000 people in the IT and ITES sectors.
"We had a meeting with the officials of various departments and decided to go ahead with the project with the state funds. The project will be executed in a phased manner," the official said.
Software Technology Parks of India has prepared the detailed project report for the incubation centre. The government has also set a target to help about 40 start-ups though the project.
Moreover, according to the state's policy, the firms, which will provide employment to at least 40 persons, will get a subsidy at the incubation centre.
Besides the government, the Indian Institute of Technology, Bhubaneswar, has also started a technology incubation centre for the start-ups in the city.
The institute has recently finished enrolling the first batch and has engaged 13 start-up companies.
"The first batch has been registered and 13 start-ups will get trained by our experts. Our objective is to encourage students to take up entrepreneurship. Our centre is available for students and faculty of the institute. The students will undergo a training for two years," said the director of Indian Institute of Technology, Bhubaneswar, Ratnam Vadra Rajakumar.
"Many people are opting for entrepreneurship these days. There are numerous start-up ideas, but because of lack of support and training, not many companies are getting good opportunities. Incubation centres provide a platform to the budding entrepreneurs. It is good initiative by the state and the Indian Institute of Technology, Bhubaneswar, to set up such centres here," said Biswas Hota, a private college lecture.