Finance
A Memorandum of Understanding (MoU) between the Odisha Livelihoods Mission (OLM) and IIT Bhubaneswar was signed today at Mission Shakti Bhawan in Bhubaneswar, marking a crucial step toward boosting rural women-led companies.
Pravati Parida, Deputy Chief Minister and Minister of Women and Child Development, Mission Shakti and Tourism, attended the programme.
The National Rural Livelihoods Mission (NRLM) is launching an incubation initiative called the Start-up Village Entrepreneurship initiative (SVEP) to encourage growth-oriented rural firms in Odisha. IIT Bhubaneswar will serve as the initiative’s incubation partner. Rural women entrepreneurs will benefit from our collaboration in areas such as company planning, product creation, quality enhancement, market linkages, financial access, and professional networking.
According to the criteria of the Deendayal Antyodaya Yojana-National Rural Livelihoods Mission (DAY-NRLM), the incubation process would support at least 150 growth-oriented rural firms over the next three years. The Ministry of Rural Development, Government of India, has approved an expenditure of Rs 10.70 crore for the initiative. IIT Bhubaneswar has received ₹99 lakh in funding for the initiative’s initial phase of implementation.
The incubation initiative is anticipated to foster a strong entrepreneurial ecosystem in the state, paving the way for Self-Help Groups (SHGs) to grow into small and medium-sized businesses. The identified SHG firms will receive assistance in obtaining Udyam registration and other mandatory compliances and certificates required for enterprise creation. IIT Bhubaneswar will also assist in securing patents and process certifications to create unique identities for select products from Odisha.
Speaking at the occasion, Deputy Chief Minister Parida noted that the government is committed not just to making women employable, but also to developing them into successful businesses. She stated that collaborating with a prominent university such as IIT Bhubaneswar has created new opportunities for SHG women. They will be able to position their products on a national and international scale thanks to technical guidance and sophisticated training. She described the project as a watershed moment in the journey to a “Viksit Odisha” and a significant step toward increasing women’s confidence and economic empowerment.
Parida also met with Mahalakshapati Didis and spoke about their remarkable paths from struggle to achievement.
This project is expected to connect women entrepreneurs with new prospects while also contributing considerably to the visions of Prime Minister Narendra Modi’s “Viksit Bharat” and Chief Minister Mohan Charan Majhi’s “Viksit Odisha”.
Manasi Nimbhal, Commissioner-cum-Secretary, Mission Shakti Department; Monika Priyadarshini, Director, Mission Shakti; top officials from the Department and the Odisha Livelihoods Mission; representatives from IIT Bhubaneswar; and Lakhpati and Mahalakshapati Didis were in attendance. Officials and SHG members from all districts of the state also participated remotely.
