Bhubaneswar: Startup Odisha, an initiative of the MSME department, kickstarted Fund Stack 3.0, a two-day annual startup investment summit here, Tuesday. The programme began with a roundtable featuring industry stalwarts including Startup Odisha executive chairman Omkar Rai and MSME Principal Secretary Saswat Mishra along with representatives from SIDBI. Speaking on the occasion, Rai said, “The goal of Fund Stack 3.0 is to seamlessly channel capital to startups through strategic connections with prominent investors. The core purpose of this event is to not only unlock funding opportunities for our startups, harness the Odisha Growth Startup Fund effectively but also to provide mentorship and guidance to our startups from notable investors. We are committed to building an ecosystem with optimal, built-in resources that empower startups in the state to not only grow but also thrive.” Mishra, in his address, said, “With Fund Stack 3.0, we invite investors to infuse capital into the growing startup ecosystem of the state. This is an excellent time to invest in our state as we have grown from strength to strength in every sector over the last couple of years.” The session engaged in exploring the intricacies of Odisha’s evolving startup ecosystem, delving into the advantages of the Odisha Startup Grant Fund (OSGF), and shedding light on the driving forces propelling the state’s entrepreneurial growth.
Thereafter, significant Memorandums of Understanding (MoUs) were forged with Equanimity Ventures and Sanchi Connect, marking the initiation of impactful strategic partnerships geared towards fostering innovation in the region. The collaboration with Equanimity Ventures focuses on the preparation of startups for investment, ensuring their readiness for the dynamic landscape. Concurrently, the partnership with Sanchi Connect is tailored to empower startups through a comprehensive acceleration programme, facilitating their growth trajectory.
Further, the day unfolded with vibrant Panel Pitching sessions hosted across multiple meeting rooms. Startup luminaries showcased their innovations to prominent investment firms such as Unicorn India Ventures, Mumbai Angels, Orios Ventures, IvyCap Ventures, Startup Xseed, Inflection Point Ventures, Indian Angel Network, and more.
As many as 50 startups from various industries such as Deeptech, Healthtech, Edutech, E-commerce, and food aggregators participated in the programme. As the day progressed, the summit reached a pivotal moment with top 20 startups getting an opportunity for exclusive one-on-one meetings November 22 marked by speed dating and networking sessions.
ARINDAM GANGULY, OP