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Odisha - IEF · PDF file 2018-09-07 · Odisha Youth Innovation Fund Scheme • The scheme was launched for promoting innovative entrepreneurship among the youth of the State and to

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  • Entrepreneurship Ecosystem Overview

    Odisha

    1

  • Levers of change – Entrepreneurship

    Following are the key levers of change which determine whether a state’s policy, education, legal framework, financial systems, business markets, cultural and social ethos are augmenting Entrepreneurship Growth:

    1. The Entrepreneur

    2. Govt. & Regulatory Support

    3. Access to Finance

    4. Educational & Cultural Preparedness

    5. Mentoring & Networking

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  • The Entrepreneur

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  • Odisha ranks #14 in India on ‘Ease of Doing Business’ 2017-18 index according to the Department of Industrial Policy and Promotion's (DIPP).

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  • Govt. & Regulatory Support

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  •  Govt. Regulatory Agencies/Others:

    • Single Window Clearance System • Odisha Industrial Infrastructure Development Corporation

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  • Single Window Clearance System

    The Single Window Clearance System in the State categorizes the proposed projects into three groups based on the total investment proposed. It is responsible for:

    • Monitor sanction and facilitate disbursement of incentives applicable under the various policies of the government

    • Review, process and facilitate project clearances including modernization, upgradation, and expansion of existing industrial units.

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    http://investodisha.org/eodb/single-window

    http://investodisha.org/eodb/single-window http://investodisha.org/eodb/single-window http://investodisha.org/eodb/single-window

  • Odisha Industrial Infrastructure Development Corporation

    • Odisha Industrial Infrastructure Development Corporation was established for developing infrastructure facilities in the identified Industrial Estate/Areas for rapid and orderly establishment and growth of industries, trade and commerce.

    • The Odisha Industrial Infrastructure Development Corporation (IDCO) is the nodal agency for providing industrial infrastructure in the state.

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    http://idco.in/2017/Profile

    http://idco.in/2017/Profile

  • Access to Finance

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  •  Schemes:

    • Odisha Youth Innovation Fund Scheme • Odisha Youth Innovation Fund Scheme • Odisha Industrial Policy 2015 • Odisha Startup Policy 2016 with Amendments of 2018 • Odisha MSME Development Policy 2016 • Odisha Food Processing Policy 2016 • Odisha ICT Policy 2014

     Other Agencies:

    • Odisha Bamboo Development Agency • Odisha State Financial Corporation

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  • Odisha Youth Innovation Fund Scheme

    • The scheme was launched for promoting innovative entrepreneurship among the youth of the State and to foster the spirit of innovation among the youth for the cause of socio-economic growth of Odisha.

    • Under the scheme, a corpus of 200 lakhs has been kept by the State Govt.

    • Entrepreneur aged between 13 to 35 years can apply to avail the benefit under this new scheme. Selected applications will be rewarded with Rs.50,000/- for new ideas, Rs.1,00,000/ for any demonstrative product, prototypes, patents, incubated products or services.

    • Three lakh rupees will be provided for development of any enterprise based on eligible innovative idea/products/services as prize money.

    11 http://osicltd.in/Content/images/PDF/Youth%20Innovation%20Scheme.pdf

    http://osicltd.in/Content/images/PDF/Youth Innovation Scheme.pdf

  • Odisha Industrial Policy 2015

    • Industrial Policy Resolution 2015 has been formulated to make Odisha an investment hub of the country.

    • The Policy focuses on providing quality industrial infrastructure, creation of a large land bank, financial assistance to the private sector for development of industrial infrastructure and sustainable environmental protection.

    • Industries are entitled to get reimbursement per unit of power tariff for a period of five years from the date of commercial production and towards training cost of newly recruited persons.

    • Green category industries will now be approved within 15 days and for other projects, the approvals will be accorded within 30 days.

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  • • Capital subsidy of 10% upto maximum as indicated based on employment and investment in Auto and Auto Components, Agro and Food Processing, Textile including Technical Textile & Apparel, Pharmaceuticals and Plastics sectors.

    • The new industrial MSME units, will enjoy capital investment subsidy of 25 per cent on the fixed capital investment with upper limit of benefit fixed at Rs one Crore.

    • Women entrepreneurs setting up new units will be entitled to additional two years fiscal incentives relating to VAT (valued added tax) under Industrial Policy Resolution (IPR)-2015.

    13 http://investodisha.org/industrial-policy

    http://investodisha.org/industrial-policy http://investodisha.org/industrial-policy http://investodisha.org/industrial-policy

  • Odisha Startup Policy 2016 The policy aims at having 1000 startups in 5 years and to take Odisha amongst the top three startup hubs of the country by 2020. Incentives provided under the policy are:

    • Startup Capital Infrastructure fund : It has provision for capital infrastructure fund up to Rs 25 crore to support the startup units and young entrepreneurs..

    • Seed Fund for Startups: Private State-specific funds shall be encouraged to setup operations in the State for funding Start ups and Start up ecosystem.

    • Product Development and Marketing / Publicity Assistance: 50% of the payment to a recognized startup entity may be made in advance and the remaining 50% will be made to its registered bank account upon utilization of the advance payment on the basis of submission of utilization certificate along with bills

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  • • Startup Odisha Toll-Free Helpline 1800-345-7100: The helpline is aimed for startup stakeholders to have a platform for redressal of their queries related to startups.

    • Assistance at idea/prototype stage: It has reimbursement provision up to Rs 1 lakh per year for three years to institutions, incubators and industry for proving internet, electricity and mentoring services to startups.

    • Assistance once the Idea / Concept get commercialized: Marketing / publicity assistance upto Rs. 5 lakh will be provided for the introduction of innovated product in the market. VAT/CST paid in Odisha by the Start up companies shall be reimbursed as per the Industrial Policy 2015.

    • Startup Odisha Online Portal: The one stop platform for investors and startups with information about the startup policy benefits, entrepreneurship ecosystem, incubators and angel investors. https://startupodisha.gov.in/?page_id=1172

    • Amendments of 2018 to the policy : women, transgender, SC/ST and differently- abled would get a monthly allowance of $338 (INR 22K) for creating startups. The funding assistance for product development and marketing has also been increased to $24.5K (INR 16 lakhs) even if any of the co-founders is either a woman, differently-abled, transgender or belong to SC/ST.

    https://startupodisha.gov.in/startup_odisha/wp-content/uploads/2018/03/StartupPolicy2016.pdf 15

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  • Odisha MSME Development Policy 2016

    • The policy emphasizes on the development of entrepreneurship among ST, SC, specially abled and women and facilitate MSMEs to access domestic and export markets, provide a conducive eco-system for promotion and growth of MSMEs .

    • Capital investment subsidy to new units will be provided from 10 per cent to 25 per cent subject to the upper limit of Rs 1 crore.

    • New Micro & Small Enterprises engag

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