The Business Bytes
THEBUSINESSBYTES BUREAU
BHUBANESWAR, FEBRUARY 4, 2025
KIIT-TBI, in collaboration with KIIT-DU and with support from the Ministry of Youth Affairs and the Global Counter Terrorism Council (GCTC), hosted the ‘BRICS Youth Council Entrepreneurship Pre-Consultation’ on Tuesday. The event served as a dynamic platform for distinguished speakers and aspiring entrepreneurs to deliberate on the pivotal role of youth in driving economic growth, fostering innovation, and advancing sustainable entrepreneurship.
A significant highlight of the event was the launch of an MBA program in Innovation, Entrepreneurship, and Venture Development, aimed at nurturing the next generation of business leaders.
Odisha Legislative Assembly Speaker Surama Padhy, addressing the gathering, paid homage to Utkal Gaurav Madhusudan Das on his death anniversary, lauding his contributions to Odisha’s industrialization. “He established Odisha’s first industry, Utkal Tannery, and showcased our filigree craftsmanship in the British Parliament. His vision underscores the importance of industrial growth for holistic development,” she stated. She further reaffirmed the Odisha government’s commitment to fostering young innovators, emphasizing that investing in youth equates to investing in the state’s future.
The event witnessed enthusiastic participation, with over 700 students in attendance. More than 160 students pitched their start-up ideas in a competition, and 15 start-ups shared their entrepreneurial journeys. The top five ideas were awarded cash prizes of Rs 20,000 each, recognizing their innovation and potential impact.
Lt. Gen. Kamal Jit Singh, Executive Member of the GCTC Council, underscored India’s exponential growth in the start-up ecosystem. “With over 1.30 lakh start-ups and a 15-fold increase in funding, India has emerged as the world’s fourth-largest start-up hub. However, as artificial intelligence evolves, mastering its potential will be our next major challenge,” he said.
Prof. Paramita Dutta, Senior Professor at Mata Sundri College for Women, University of Delhi, elaborated on the significance of BRICS in shaping global economic perspectives. “The BRICS Youth Council, launched in 2023, provides a vital platform to empower young minds and address pressing global challenges. With over 65% of India’s population under the age of 35, our youth are the key drivers of economic progress,” she remarked.
KIIT Vice-Chancellor Prof. Saranjit Singh highlighted Odisha’s vast potential in the blue economy. “With its extensive coastal resources and burgeoning industries, Odisha is poised to become a hub for sustainable tech entrepreneurship,” he said. He also announced the introduction of the one-year MBA program in innovation to cultivate forward-thinking business leaders.
Dr. Mrutyunjay Suar, Director General of R&D and Innovation at KIIT, and CEO of KIIT-TBI, emphasized the institution’s instrumental role in bolstering India’s start-up ecosystem. “KIIT-TBI, the largest incubator in India, has facilitated the creation of over 10,000 jobs through its unwavering support for start-ups,” he noted, highlighting the profound impact of innovation-driven entrepreneurship.
The event concluded with a vote of thanks by Namrata Misra, CEO of BCKIC, who encouraged young entrepreneurs to persevere in their ventures and continue striving for excellence in the start-up ecosystem.
