Bhubaneswar, Feb 11 (PTI) Union minister Dharmendra Pradhan on Sunday launched an initiative of IIT-Bhubaneswar's Research and Entrepreneurship Park, which aims at creating 100 startups with a valuation of Rs 100 crore each by 2036.

The ‘100-Cube' startup initiative was unveiled by Pradhan here, who said innovation is “in the DNA of Odia society”.

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“After seeing the new ideas and innovations of our youths, I am confident that 100 startups will be created by 2036,” he said.

To achieve this goal, the park will provide essential resources, mentorship, seed capital and access to potential investors. It is set to expand to about 80,000 square feet from the existing 20,000 square feet over the next two years with support of Rs 130 crore from the Ministry of Education, officials said.

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The minister also hailed the startup ecosystem in India, particularly in Odisha, “where 40 percent of startups are led by women”.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)