Startups in Bhubaneswar Receive ₹500Cr Funding Boost

To foster innovation, a consortium of investors has announced a dedicated fund for Odisha-based startups, specifically focusing on AI and Green Energy. The ₹500 crore fund, named "Odisha Innovate Fund," will invest in 50-60 early-stage and growth-stage companies over the next five years. The state government has partnered with ICICI Ventures and 100X.VC to manage the fund. Chief Minister Naveen Patnaik emphasized that this initiative will create over 10,000 jobs and strengthen Odisha's position in the national startup ecosystem. Already, 12 startups have received commitments totaling ₹85 crore.