Odisha’s Entrepreneurial Landscape Set to Flourish with IIM Sambalpur’s 100 Cube Start-up Conclave

Sambalpur, 26^th February, 2024:IIM Sambalpur is poised to host a one-day 100-Cube Start-up Conclave at its campus on Friday, 1st March 2024, aimed at fostering the entrepreneurial spirit in India and empowering youth to innovate and create value. This distinctive startup initiative, orchestrated by the Ministry of Education, Government of India in collaboration with IIM Sambalpur, endeavors to establish 100 startups on its premises, each with an approximate valuation of INR 100 Crores by Odisha’s centennial celebration in 2036. Aligned with one of IIM Sambalpur’s core values of inclusiveness and regional development, the event seeks to catalyze the entrepreneurial ecosystem in the region.

The esteemed Chief Guest for the inauguration will be the Union Minister of Education and Skill Development & Entrepreneurship, Government of India, Shri Dharmendra Pradhan. The 100-cube start-up conclave will also mark the commencement of the “I-Hub Foundation,” which is established under Section 8 as a registered company, as IIM Sambalpur’s incubator.  I-Hub will operate both physically and virtually, collaborating with various stakeholders in Odisha’s entrepreneurial landscape.

The startup extravaganza will feature an exhibition showcasing 50 startups from Sambalpur, Jharsuguda, Sundargarh, Bargarh, and other districts of Odisha. The event anticipates approximately 1200 attendees, including 300 startups, as well as key stakeholders, investors, industry mentors, ministry representatives, students, and members of the incubator and venture capital (VCs) or angel investor communities.

Prof. Mahadeo Jaiswal, Director, IIM Sambalpur, expressed pride in hosting the 100 Cube Start-up Conclave, highlighting its alignment with the institute’s vision of promoting entrepreneurship and startup culture in Odisha. He emphasized that the event would not only provide a platform for startups to showcase their potential but also offer comprehensive support and networking opportunities with various stakeholders.

Prof. Jaiswal elaborated on the inauguration of the I-Hub Foundation, underscoring its role in supporting and nurturing innovative ventures across diverse sectors such as textiles, arts & culture, agriculture, healthcare, financial & digital inclusivity, tribal entrepreneurship, and sustainability. This initiative aims to furnish startups with a robust platform for growth while fostering collaborations and partnerships to drive sustainable and inclusive development.