The Odisha government has signed an agreement with Software Technology Park of India (STPI), philanthropist Sushmita Bagchi, and IIT Bhubaneswar, for setting up an incubator for promoting research.
The Centre of Excellence for Virtual & Augmented Reality (VARCoE) will be be set up at the campus of IIT, Bhubaneswar, as per the agreement signed yesterday.
Odisha Chief Minister Naveen Patnaik, who was present during the signing of the agreement, appreciated the efforts of Startup Odisha Initiative.
The centre is being set up with a unique collaborative partnership between the state government, Government of India through STPI and an IIT.
Patnaik added that the incubator on Virtual Augmented Reality at IIT, Bhubaneswar, will be a landmark initiative for promoting research, technology incubation and product development in the country.
The centre will cater to the startups and new generation entrepreneurs working in the area of Virtual Augmented Reality for immersive visualisation and allied areas, he said.
A cheque of Rs 2.5 crore was handed over to Director, IIT, Bhubaneswar as contribution from the state governments 'Startup Odisha Initiative' for setting up the centre.
Odisha's MSME Minister Prafulla Samal said that the proposed incubator at the IIT will focus on futuristic field of Virtual and Augmented Reality.
Susmita Bagchi, a philanthropist, who contributed Rs 2.5 crore to Director IIT for the purpose, hoped that the VARCoE will be one-of-its-kind in the country to promote research and technology development for the benefit of industry and the society.
Prof. R V Rajakumar, Director, IIT, Bhubaneswar while speaking on the occasion, stated that the VARCoE will be a state-of-the-art incubator for the benefit of the startups, researchers, faculty and budding entrepreneurs.
STPI Director General Omkar Rai said that STPI could encourage the incubatees and startups graduating from the IIT-Bhubaneswar to join the STPI.
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