A Commitment to Innovation
In a significant move to bolster Odisha’s entrepreneurial landscape, Mahanadi Coalfields Limited (MCL) has announced an investment of ₹4.65 crore to support startups in the state over the next three years. The initiative, undertaken in collaboration with the Foundation for Technology Business Incubator (FTBI) at the National Institute of Technology (NIT), Rourkela, aims to foster innovation, create jobs, and empower local entrepreneurs, particularly women.
Key Highlights of the MoU
MCL and FTBI recently signed a Memorandum of Understanding (MoU) to formalize the partnership. The collaboration will focus on:
· Comprehensive Startup Support: Establishing and nurturing approximately 30 startups with seed funding, training programs, office infrastructure, and research labs.
· Empowering Women Entrepreneurs: Organizing workshops and seminars tailored to equip women with essential entrepreneurial skills, knowledge, and networks.
· Innovation and Job Creation: Building a sustainable ecosystem to enable entrepreneurs to transform their ideas into viable business ventures.
This initiative falls under MCL’s Corporate Social Responsibility (CSR) framework and aligns with its goal of promoting sustainable livelihoods in Odisha.
A Game-Changer for Odisha’s Startups
By providing vital resources and support, MCL and FTBI aim to drive a wave of innovation in Odisha. The project is expected to empower budding entrepreneurs, boost regional economic development, and position the state as a hub for startups and technological advancement. Senior officials from both organizations lauded the initiative as a transformative step toward socio-economic growth.
Building the Future Together
MCL’s investment is more than a financial commitment; it represents a vision for a prosperous and innovative Odisha. By nurturing a new generation of entrepreneurs, particularly women, the initiative is poised to deliver long-term benefits for the region and contribute to India’s broader economic development. With this partnership, Odisha is set to emerge as a beacon of entrepreneurship and innovation.
(With inputs from agencies)
