Sambalpur, 02nd March 2024: IIM Sambalpur, one of the premier management institutions, hosted 100 CUBES conclave on 1st March, 2024, aimed at fostering the entrepreneurial spirit in India and empowering youth to innovate and create value. This distinctive startup initiative, orchestrated by the Ministry of Education, Government of India in collaboration with IIM Sambalpur, endeavors to establish 100 startups on its premises, each with an approximate valuation of INR 100 Crores by Odisha’s centennial celebration in 2036. The conclave is aligned with one of IIM Sambalpur’s core values of inclusiveness and regional development, the event seeks to catalyze the entrepreneurial ecosystem in the region. The event will be inaugurated by Hon’ble Union Minister for Education, Skill Development & Entrepreneurship, Shri Dharmendra Pradhan at the institute Auditorium. This was informed by Prof. Mahadeo Jaiswal, Director, IIM Sambalpur on Wednesday at a press conference.
Prof. Jaiswal further said that the day-long conclave will be embedded with various precursor events like “Startup Open Mic”, Fireside Chat”, “Master Training Session”, and “Exhibitions”, among others. These events will set the stage for the momentous event later for the day. The conclave will witness the participation of the industry leaders, like Mr Sanjiv Bajaj, MD, Bajaj Finserv and Mr Rashmi Ranjan, MD, Parry Enterprises, among others.
Prof. Jaiswal informed that the 100 CUBES Conclave is an initiative IIM Sambalpur in align with the Purvodaya Mission of Hon’ble Prime Minister Shri. Narendra Modi Ji to make India Vikshit Bharat, which aims to bring together entrepreneurs, innovators, investors, and industry experts under one roof to foster collaboration, innovation, and growth in the startup ecosystem. With dynamic keynote speakers, panel discussions and networking sessions, this event promises to be a valuable platform for sharing insights, forging connections, and exploring opportunities in the startup landscape.
Prof. Jaiswal further said that the Hon’ble Union Education Minister will also be inaugurating “I-Hub Foundation”, which is established under Section 8 as a registered company, as IIM Sambalpur’s incubator. The I-Hub Foundation will operate as a physical and virtual incubator while networking with the various trenches of the entrepreneurial ecosystem. The incubator will focus on ideas that not only generate wealth, but will be a social benefactor. Prof. Jaiswal underscored the role of I-Hub Foundation in supporting and nurturing innovative ventures across diverse sectors such as textiles, arts & culture, agriculture, healthcare, financial & digital inclusivity, tribal entrepreneurship, and sustainability. This initiative aims to furnish startups with a robust platform for growth while fostering collaborations and partnerships to drive sustainable and inclusive development.
Startup Open Mic: The Startup Open Mic will provide a platform for startups and students to voice their expectations from the ecosystem. They will be able to convey theneeds of the startups which will help the institute and other stakeholders to take necessary action.
Fireside chat with Mr Sanjiv Bajaj, MD, Bajaj Finserv will allow the audience comprising of students and local entrepreneurs to get insights from industry stalwarts. Master training session on branding & scalability will be conducted by Mr Rashmi Ranjan, MD, Parry Enterprises. The attendees will be trained in the areas of branding & scalability specifically for startups.
As part of the Conclave – the startup extravaganza will feature an exhibition showcasing 50 startups from Sambalpur, Jharsuguda, Sundargarh, Bargarh, and other districts of Odisha. The event anticipates approximately 1200 attendees, including 300 startups, as well as key stakeholders, investors, industry mentors, ministry representatives, students, and members of the incubator and venture capital (VCs) or angel investor communities. There are multiple exhibitors from the areas of technological research and development, sustainable development, customer solutions, FMCG, logistics, education, agriculture, digital marketing and e-commerce. Additionally, renowned incubators will also be participating in the conclave.
It is to be noted that the inauguration event will be attended by key industrialists, startups local entrepreneurs, and government bodies amongst others. Dignitaries from various key industries, Padma award winners, and students will also be attending the event. The event will showcase multiple Mou exchanges. It will also be marked by the signing of a key MoU for the establishment of the Center of Management Education in Angul, Odisha by IIM Mumbai and IIM Sambalpur.