On Saturday, September 16, the Indian State Government launched a 100 crore Startup Odisha Growth Fund (OSGF) in collaboration with the Small Industries Development Bank of India (SIDBI) as a fund manager.

The OSGF is dedicated to investing 100 crore over five years through alternative investment funds (AFIs) in Odisha startups. Sidbi will serve as fund manager for the growth fund and will be responsible for developing its investment strategy and managing its portfolio. Their collaboration is expected to play a crucial role in strengthening the MSME sector, which contributes 33% to India's GDP and generates over 120 million jobs.

According to Startup Odisha Executive Chairman Omkar Rai, the fund would foster a dynamic startup ecosystem in Odisha. According to him, “this will help fuel innovation, catalyze job creation and propel our startups to success nationally and globally. We are building a future in which Odisha is recognized as a beacon of entrepreneurial excellence.” Noted that Odisha currently has 1,700 startups, including 600 women-led businesses