Odisha Youth Innovation Fund of Rs 2 crore launched

Bhubaneswar, August 11:
To enhance opportunities for entrepreneurship and to encourage youth
entrepreneurship and innovation in Odisha, Chief Minister Naveen Patnaik
launched a Rs 2-crore Odisha Youth Innovation Fund on Tuesday.
The scheme would be
implemented by the Odisha Small Industries Corporation (OSIC) as the nodal
agency. Youths of the State aged between 13 and 35 years can avail the benefit.
Under the scheme, deserving
innovators would be rewarded with Rs 50,000 for new ideas and Rs 1 lakh for any
demonstrative product, prototype, patents and incubated products of services.
If any enterprise is set up basing on any new idea, such innovation would
attract prize money of Rs 3 lakh.
“The Odisha Innovation
Fund is an appropriate initiative in encouraging innovation in youth as it has
been created to motivate youths to come out with new ideas and promote
innovative products and services for the cause of socioeconomic development of
the State,” said Patnaik.

The form is available
at the all Regional/District Industries Centres.
Patnaik suggested that
the MSME Department should develop technology incubation centres and livelihood
business incubation centres with the schemes available with the Union
Among others,
Industries Minister Debi Prasad Mishra, MSME Minister Jogendra Behera, Tourism
and Culture Minister Ashok Chandra Panda and MSME Secretary Panchanan Dash were
present on the occasion.

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