Bhubaneswar, Aug 11 : Odisha Cabinet on Friday approved the outright purchase of both towers A & B of O-Hub by MSME department from IDCO at a cost of Rs 350 crore.
Briefing newspersons after the cabinet meeting, state Chief Secretary P K Jena said O-Hub building, constructed by IDCO comprises of twin towers (tower -A and tower B) each having G+12 floors spread over 3.57 acres of land in Chandua IT/ITES SEZ.
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 start up policy 2016, there has been a steady growth in number of start ups in the state. More than 1600 start ups have been recognised while the number of incubators has increased to 26 in the state.
The state government has envisaged to get 5,000 start ups and 50 incubators recognised by 2025.
The O Hub will work as the main fulcrum of the start-up ecosystem of Odisha. It currently houses a start-up Odisha office and a small number of startups.
The target is to house 500 start ups in O-Hub by 2025.
