India Now 3rd Largest Start-Up Economy: Dr. Omkar Rai

Bhubaneswar: Dr. Omkar Rai, the Executive Chairman of Start-up Odisha, proudly proclaimed India’s ascension to the position of the third largest start-up economy globally, trailing only behind the USA and China. His announcement came during the inauguration of the ‘SOA E-Summit-2024’ at the prestigious Siksha ‘O’ Anusandhan Deemed to be University (SOA), where he emphasized the imperative for students to cultivate a keen interest in entrepreneurship. Dr. Rai urged students to embrace the potential of start-ups as a means to achieve self-sufficiency and transform themselves into job creators rather than job seekers.

Expressing his satisfaction at SOA’s dedication to nurturing Incubation Centres, Dr. Rai highlighted the substantial opportunities that start-ups offer, particularly for students who possess the acumen to steer their ventures towards profitability with minimal investment.

The event, hosted jointly by the Atal Incubation Centre-SOA Foundation and the Centre for Innovation and Incubation (SOA-CII) at the Institute of Technical Education and Research (ITER), showcased the burgeoning start-up ecosystem in Odisha.

Dr. Rai underscored Odisha’s commendable progress in fostering entrepreneurship, citing the existence of 1940 recognized start-ups across various sectors, including agriculture, Artificial Intelligence, automotive, telecommunications, education, and renewable energy. Additionally, he inaugurated a start-up expo and a 24-hour idea prototype hackathon, further enhancing the platform for innovation and collaboration.

Addressing the gathering, Prof. Pradipta Kumar Nanda, the Vice-Chancellor of SOA, emphasized the university’s commitment to fostering innovation across disciplines, not only in engineering and technology but also in other areas of study. He highlighted SOA’s forthcoming Atal Incubation Centre as a testament to its dedication to promoting entrepreneurial endeavors.

Prof. Nanda proudly noted the recent recognition received from IIT-Hyderabad for two projects from SOA, one in agriculture and the other in dental sciences, reflecting the university’s multidisciplinary approach to innovation.

The inaugural program also featured Mr. Raghu Panicker, Chief Executive Officer of Kaynes SemiCon, who shared insights, and Prof. Renu Sharma, Additional Dean (Student Affairs) of ITER, who extended a warm welcome to the guests. Prof. Manas Kumar Mallick, Director of ITER, graced the occasion with his presence, further accentuating the collaborative spirit of the event.