Post News Network
Bhubaneswar, Sept 13: The state government may form ‘Innovation Council’ to promote ideas for starting up new ventures in a bid to promote entrepreneurship among local youth.
“Provision for forming an ‘Innovation Council’ in the state to look after promotion of innovation in different fields may be incorporated in the policy (Draft Development Entrepreneurship Policy, 2015). At the same time, sector specific innovation cell are to be established by different department. The council may comprise industrialist and academicians among others,” a state government document said.
The state government is in the process of coming out with an entrepreneurship development policy for promoting startups for creating jobs.
Recently, a meeting was held by government officials to discuss the same. As per the document, awareness programmes on promoting entrepreneurship are likely to be held. “Industries association and successful entrepreneurs should be involved in spreading awareness on entrepreneurship and share information on latest development and market intelligence among others,” it said.
Similarly, it was proposed to provide interest subvention to entrepreneurs who are making repayment of loan on time and the interest subsidy will be allowed once any account becomes NPA.
It was also proposed that no separate fund will be created for startups. “A portion of state venture capital fund will be utilized for funding the startups,” it said.
