Bhubaneswar: Odisha Cabinet Friday approved the outright purchase of both towers of O-Hub by the MSME department, said a source.
The source mentioned that the towers are being purchased from IDCO at a cost of Rs 350 crore.
Briefing newspersons after the Cabinet meeting, state Chief Secretary PK Jena said O-Hub building, constructed by IDCO comprises twin towers (tower -A and tower B) each having G+12 floors spread over 3.57 acres of land in Chandaka Industrial Estate.
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The land has been leased to IDCO by the state government for 99 years with effect from March 25, 2006. Since the launch of Odisha startup policy 2016, there has been a steady growth in number of startups in the state. More than 1,600 startups have been recognised while the number of incubators has increased to 26 in the state, a source informed.
The state government has envisaged getting 5,000 startups and 50 incubators recognised by 2025. The O Hub currently houses a start-up Odisha office and a small number of startups, the source added.
UNI
