Odisha invites Billionaire Tim Draper to open draper start-up house
- ByStartupStory | February 1, 2023
Tim Draper, a billionaire venture capitalist, and Dr. Omkar Rai, executive chairman of Start-up Odisha, recently met in Cuttack to discuss ways to encourage entrepreneurship in Odisha and the possibilities of constructing a “Draper Start-up House.”
Tim Draper, praised the state government’s initiatives to boost the startup sector. Draper, a bitcoin billionaire investor, is renowned for placing early wagers on ground-breaking innovation firms like Tesla, SpaceX, Hotmail, Skype, and others. He offers numerous forms of support to startups. According to a report, Tim Draper’s team and Start-up Odisha have started talking about the best ways to move the project ahead.
“The startup ecosystem in Odisha is growing by leaps and bounds capitalising on the strength of both traditional and modern sectors. Odisha is ranked among the ‘Top Performer States’ as per the Start-up Ranking 2021 given by the Government of India. To further spur the growth and support the start-up ecosystem, we had a discussion regarding establishing a ‘Draper Start-up House’ in Odisha. A ‘Draper Start-up House’ has been established in Bengaluru and with the potential that Bhubaneswar holds in the start-up ecosystem, the next destination can likely be Odisha’s capital,” said Dr Rai.
With the ambition and mission of supporting one million entrepreneurs by 2030, “Draper Start-up House” strives to assist new business owners all over the world. Around 25 cities around the world have Draper Start-up Houses, and Draper is apparently planning to expand that number to 50 this year.
Tim admired the efforts of Start-up Odisha and said, “Giving Incubation support to start-ups is a very important job”.
Start-up Odisha has recently launched a number of initiatives, like the Start-up Odisha Yatra and the Start-up Xpress, to encourage student entrepreneurship and grassroots innovation. Additionally, Odisha Start-up Growth Fund (Fund-of-Funds) is available to help startups grow. In an effort to directly reach students on campuses and to spread its message throughout colleges, universities, and business schools, among other institutions of higher learning, Start-up Odisha has also developed the idea of “Campus Ambassadors.” These bright students will serve as potential start-ups while also inspiring, educating, and guiding the state’s start-up ecosystem.
“The Odisha Government has extended all support to the start-up ecosystem in the state and has developed O-Hub, an Incubation center that sprawls over 3.8 lakh sq ft in Bhubaneswar,” informed Dr. Rai.
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