Bhubaneswar, July 24 (UDN): Odisha’s startup ecosystem continues to expand, with 4,123 entities recognised as startups by the Department for Promotion of Industry and Internal Trade (DPIIT) under the Startup India initiative as of June 30, 2026, Union Minister of State for Commerce and Industry Jitin Prasada informed the Rajya Sabha.

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In a written reply to a question by BJD Rajya Sabha MP Dr. Santrupt Misra, the minister highlighted the Centre’s continued support for entrepreneurship in Odisha through funding, incubation, credit assistance and innovation-focused programmes.

166 Startups Receive Seed Funding

According to the minister, 10 incubators in Odisha have been selected under the Startup India Seed Fund Scheme (SISFS), enabling 166 startups in the state to receive seed funding for developing innovative products and scaling their businesses.

In addition, 11 Odisha-based startups have secured investments through Alternative Investment Funds (AIFs) supported by the Fund of Funds for Startups (FFS), while four startups have benefited from the Credit Guarantee Scheme for Startups (CGSS), improving their access to institutional finance.

Multiple Funding Mechanisms in Place

The Centre is currently supporting startups through three key initiatives:

• Fund of Funds for Startups (FFS) and Startup India Fund of Funds 2.0, which facilitate equity investments through SEBI-registered Alternative Investment Funds.

• Startup India Seed Fund Scheme (SISFS), which provides grants, debt and convertible financial assistance through recognised incubators.

• Credit Guarantee Scheme for Startups (CGSS), aimed at improving credit availability by providing guarantee cover to lending institutions.

The minister said the recently launched Startup India Fund of Funds 2.0, with a corpus of ₹10,000 crore, is expected to accelerate investments in deep-tech, manufacturing, micro venture capital funds and sector-specific innovation-driven enterprises.

Boost for Deep-Tech Innovation

Highlighting recent policy reforms, Prasada said the government has introduced a dedicated Deep Tech Startup category under the Startup India programme.

Under the revised norms, deep-tech startups can retain DPIIT recognition for up to 20 years from incorporation, while the turnover eligibility limit has been increased to ₹300 crore, acknowledging the longer development cycles and higher capital requirements of advanced technology ventures.

Focus on Emerging Technologies

The minister also outlined several flagship initiatives supporting technology-led entrepreneurship, including the GENESIS Scheme for Tier-II and Tier-III cities, the National Quantum Mission, the IndiaAI Mission, and the Design Linked Incentive (DLI) Scheme under the Semicon India Programme.

He added that startups are also being encouraged through programmes such as Innovations for Defence Excellence (iDEX), DRDO’s Technology Development Fund, Dare to Dream, ADITI, IN-SPACe’s space entrepreneurship initiatives, and the recently launched ₹1 lakh crore Research Development and Innovation (RDI) Scheme, which aims to finance research-intensive projects undertaken by startups, MSMEs and private enterprises.

Strengthening the Startup Ecosystem

The government, Prasada said, remains committed to strengthening India’s innovation ecosystem through policy reforms and initiatives such as the National Startup Awards, States’ Startup Ranking, Innovation Week, TEJAS, and Startup Mahakumbh.

These measures are aimed at improving access to finance, promoting innovation, enhancing ease of doing business and enabling startups to scale sustainably, contributing to India’s long-term economic growth.