Empowering Rural Women Entrepreneurs: IIT-Bhubaneswar Partners with Odisha Livelihoods Mission

Collaboration to Boost Rural Entrepreneurship

Bhubaneswar: On Monday, the Odisha Livelihoods Mission (OLM) entered into a Memorandum of Understanding (MoU) with IIT-Bhubaneswar aimed at enhancing business opportunities for women entrepreneurs in rural areas of the state.

This partnership will provide essential support in various areas including business strategy, product innovation, quality improvement, market access, financial resources, and professional networking, as stated by Odisha's Deputy Chief Minister Pravati Parida, who oversees the Women & Child Development and Mission Shakti departments.

As part of the National Rural Livelihoods Mission (NRLM), a new incubation initiative is being introduced through the Start-up Village Entrepreneurship Programme (SVEP) to foster the development of rural enterprises throughout Odisha. IIT-Bhubaneswar will act as the incubation partner for this program, according to officials.

Over the next three years, the incubation initiative aims to assist at least 150 rural enterprises focused on growth.

The Ministry of Rural Development has allocated a budget of Rs 10.70 crore for this program, with an initial funding of Rs 99 lakh approved for IIT-Bhubaneswar to kickstart the initiative, Parida noted.

This incubation program is anticipated to cultivate a dynamic entrepreneurial environment in the state, facilitating the transition of self-help groups (SHGs) into small and medium-sized enterprises.

Under the terms of the agreement, IIT-Bhubaneswar will also aid in obtaining patents and process certifications to establish distinct identities for select products originating from Odisha.