By Bizodisha Bureau, Bhubaneswar, August 16, 2016 : The Odisha government will formally launch its startup policy during the two-day investors’ conclave in Bengaluru on August 25 next.

The state government has formulated a startup policy and expects to attract investments worth Rs 2.5 lakh crore and generate 10 lakh jobs in line with the Vision-2025.

The state aims to make the state a manufacturing hub in the eastern India with setting up of industries from sectors like plastics, petrochemicals, healthcare, automobiles and textiles.

Chief Minister Naveen Patnaik on Tuesday presided over a high-level meeting here to review the progress of the conclave.

The state government aims to attract investors to set up their businesses in Odisha. The two-day programme will be organised by state Industries department, Confederation of Industries [CII], Karnataka and its Odisha chapter.

Officials said, Naveen Patnaik would launch the state’s startup policy at Bengaluru and hold discussions with the corporate honchos and lure them to invest in Odisha. Leading corporates from the country are expected to participate in it.

Besides, the master plan of Info Valley in Odisha capital would also be unveiled during the event.

A MoU would be signed between Wadhwani Foundation and the state government for skill development and training, sources added. Entrepreneurs from across the globe, educational institutions, venture capitalists, IT & ITES companies, are scheduled to attend the conclave.

For funding startups, a Startup Capital Infrastructure fund with an initial corpus of Rs. 25 crore shall be set up to support development of hard and soft infrastructure for the startup ecosystem in the state such as physical infrastructure for incubators including testing labs, design studio, tool rooms, virtual incubators etc.

Chief Secretary Aditya Prasad Padhi, Additional Chief Secretary to Chief Minister Upendra Nath Behera, Development Commissioner R Balakrishnan, Secretaries of Industries, Water Resources, IT, Tourism and I&PR departments were present in the review meeting.