Seven Odisha Startups Receive ₹35 Crore Under Centre’s Fund of Funds Scheme

Bhubaneswar: In a major boost to Odisha’s startup ecosystem, seven startups from the state have collectively received ₹35 crore in funding under the Government of India’s Fund of Funds for Startups (FFS) scheme. The information was revealed by Union Commerce and Industry Minister Jitin Prasada during a Lok Sabha session on Tuesday.

Responding to a query from Bolangir MP Sangeeta Kumari Singh Deo, Minister Prasada stated that Alternative Investment Funds (AIFs) under the FFS scheme have supported startups from Cuttack, Khordha, Rourkela, and Ganjam with investments totaling approximately ₹35 crore as of June 30, 2025.

The funding, part of the Startup India initiative, aims to expand venture capital access to innovative and high-growth startups, especially in regions beyond the traditional metro hubs.

To further develop Odisha’s entrepreneurial landscape, the government is actively conducting mentorship workshops, pitching sessions, and bootcamps in urban centres like Bhubaneswar. In addition, efforts are being made to empower first-time fund managers and promote regional innovation hubs.

Beyond funding, the Centre is also promoting digital growth among Micro, Small, and Medium Enterprises (MSMEs) through initiatives like the Open Network for Digital Commerce (ONDC). Under the TEAM scheme, MSMEs are being assisted in transitioning to digital platforms, with support for cataloguing, logistics, and packaging.

Digital literacy and upskilling programs are also being rolled out, including the Digital Readiness Assessment tool developed with the Quality Council of India, which helps businesses improve their online capabilities.

Odisha is additionally benefitting from national infrastructure initiatives such as the PM Gati Shakti Master Plan and the National Logistics Policy, which aim to reduce logistics costs and boost operational efficiency for both digital and physical businesses.

These efforts reflect the Centre’s broader push to decentralise innovation and strengthen regional startup ecosystems, positioning Odisha as an emerging hub for entrepreneurship and digital transformation.