Union Education Minister Dharmendra Pradhan on Sunday launched an initiative of IIT-Bhubaneswar's Research and Entrepreneurship Park, which is aimed at creating 100 startups with a valuation of Rs 100 crore each by 2036. According to an official statement, the programme aims to create 100 start-ups, each with a valuation of Rs 100 crore, by the 100th anniversary of Odisha in 2036.

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To achieve this goal, the park will provide essential resources, mentorship, seed capital and access to potential investors, it said, adding that the park is set to expand from its present 20,000-square-foot area to about 80,000-square-foot over the next two years with the support of Rs 130 crore.

Addressing the event, the Union Minister said the youth of Odisha and elsewhere across the country are full of passion and enthusiasm towards turning their ideas into successful ventures."The 100-Cube Start-up Initiative will shape the future of the entrepreneurship landscape of Odisha and India by creating a conducive environment," he added.

He stressed the growth of Odisha-related startups through this initiative, urging entrepreneurs across the country to come forward and invest in such ventures.

Pradhan also called on the higher education institutions of Odisha and Eastern India to be a part of this mission.On the occasion, IIT Bhubaneswar signed MoUs with 15 companies to build strategic collaborations for achieving the 100 Cube objective.

During the event, the Union Minister also officially inaugurated the 1500-seater auditorium hosting the event and laid the e-foundation for infrastructure projects worth Rs. 450 crores.Chairman of the Board of Governors at IIT Bhubaneswar, RP Singh, highlighted the significance of innovation and research, along with a balance, by utilizing science and technology judiciously for the betterment of society.

"I am confident that IIT Bhubaneswar will play a lead role in achieving the same," Singh said.