Besides being home to many trading and commercial hubs, Bhubaneswar has emerged as a popular hub for incubating startups. Agritech startups have quickly emerged in the state, particularly Bhubaneswar, in the last decade.
To register for the SIDBI ET MSME Conclave in Bhubaneswar, click here.
Bhubaneswar-based Bariflo Labs is among the leading agritech startups in the state that looks at solving the issues of water quality degradation of lakes, reservoirs and aquafarms. It implements solutions based on robotic technology, developed using the concept of environmental hydraulics, AI, IoT and traditional methods.
Bariflo Labs is an agritech startup which solves the issues of water quality degradation of lakes, reservoirs, aquafarms.
Mrutyunjaya Sahu, CEO, Bariflo Labs, says the low cost of living, affordable talent and home advantage enticed him to launch the startup here. “Further, our target market in shrimp aquaculture made me think of this place as a fertile ground to develop the concepts faster by spending less,” adds Sahu.
Ramesh Chandra Biswal, Founder & CEO of mobile marketplace Villa Mart is also upbeat about the potential of Bhubaneswar as a world-class startup destination. While he also believes there are some challenges, there is an optimism that with gradual growth, the ecosystem will evolve into a more robust and supportive environment in the near future.
Biswal, in 2016, had left the US to return to his hometown Bhubaneswar to launch the company, which is basically a mobile marketplace allowing farmers to sell their produce and earn fair prices. VillaMart is building a tech-enabled D2C omni-channel marketplace connecting farmers and consumers. The company’s franchise model integrates AI, smart storage and supermarkets for seamless expansion.
Taking Odisha’s startup ecosystem to the next level
Odia people are often reserved, and there’s a need for increased promotion and visibility of our activities and innovations to the rest of the country, believes Biswal. However, Startup Odisha has created a positive environment by motivating young entrepreneurs, offering grants, mentorship, and attracting investors to the state, he adds.
Sahu says while the startup ecosystem in Bhubaneswar is still in its early stages in terms of external investments, it’s gaining momentum. “As a deep tech startup, we’ve observed a notable emphasis from the government, leading to quicker attention and opportunities, especially in securing government agencies as customers,” adds Sahu.
“The presence of robust support systems, such as incubation centers like KIIT TBI, and government initiatives like Startup Odisha, has been instrumental. These entities have created an excellent environment for startups, facilitating faster interaction between industry veterans and emerging businesses. The increased awareness and encouragement from these ecosystems have proven beneficial, engaging young minds, and fostering solutions to contemporary challenges through technology,” says Sahu.
Ultimately, it’s crucial to continue showcasing the achievements and intensify support mechanisms, capturing the attention of investors and industry players nationwide, to further boost Bhubaneswar’s presence, say industry stakeholders.
With an eye on the state’s entrepreneurial abilities, SIDBI, in association with The Economic Times, is holding an MSME Summit on January 12 in Bhubaneswar. The summit is a part of a series of events nationwide that will bring together micro, small & medium enterprises (MSMEs), policymakers and ecosystem enablers. The first event took place in Indore on January 9th, followed by events in cities such as Ludhiana, Aurangabad, Rajkot, and Belagavi.
To register for the SIDBI ET MSME Conclave in Bhubaneswar, click here.
