The Indian Institute of Technology, Bhubaneswar has received proposals from a total number of 54 budding entrepreneurs across the country. Out of them, the potential shortlisted candidates will be mentored by the Institute in the month of October. A total number of 45 candidates have been shortlisted for this programme.
Director of IIT-BBS, Mr. Raja Kumar said that out of 45 candidates ten candidates with unique and innovate ideas will get a seed grant of Rs. 2.5 lakh for their ventures. The candidates have been shortlisted based on their potentialities of the proposals. The seed grant will be provided to ten startups every year.
He mentioned that as it is the first year, the entrepreneurs will be facilitated with the Incubation of Technologies. The institute will provide customised working space to all the ten startups as per the requirement. Facilities like the internet, water and electricity will be provided on a nominal payment basis. The facilities will be provided for one year and may be extended for another year.Apart from the ten startups, the remaining entrepreneurs will be provided with library and hostel facilities on payment.
The officials of the institute said that they had received maximum proposals from Orissa and also received proposals from Andhra Pradesh, Gujarat, Kerala and West Bengal.