By Abhay Ray 
Introduction
The Indian startup landscape is evolving rapidly, and Odisha—a state known for its rich cultural heritage and natural resources—is making bold moves to position itself as a formidable player in the innovation-driven economy. In a groundbreaking development, Hunch Circle Private Limited has joined forces with Startup Odisha through a Memorandum of Understanding (MoU) that promises to supercharge the state’s entrepreneurial ecosystem.
About Hunch Circle
Hunch Circle Private Limited is a portfolio company of Hunch Ventures, Delhi-based investment firm with roots in Odisha, investing across various sectors. Hunch Circle is an innovative platform designed to support and empower startups from Odisha and beyond, helping them scale their operations and gain visibility in global markets. By providing mentorship, resources, and a robust network, Hunch Circle aims to bridge the gap between local entrepreneurs and international opportunities, enabling startups to thrive on a global scale. Hunch Circle’s mission is to foster innovation and entrepreneurship by connecting regional startups with the right resources, guidance, and exposure to expand their reach globally. Its vision is to create an ecosystem where local entrepreneurs from emerging regions like Odisha can make an impact on the world stage and compete with global businesses.
Why this MoU matters ?
For years, startup ecosystems in metropolitan cities like Bengaluru, Delhi, and Mumbai have dominated India’s entrepreneurial scene. However, regional states like Odisha are increasingly recognizing the power of startups to drive economic growth and employment. This partnership between Hunch Circle—a portfolio company of Hunch Ventures—and Startup Odisha is a clear testament to the state’s ambition to foster sustainable innovation, empower entrepreneurs, and create global-scale success stories.
All about Odisha Startup, and What does it Aim to Achieve ?
Startup Odisha Executive Chairman Omkar Rai : Startup Odisha aims to promote the startup ecosystem in the state. We aim to have about 5,000 startups by 2025. To achieve this mandate, we are taking several initiatives. The story of the startup ecosystem in this state started with the creation of the Odisha Startup Policy 2016, which was subsequently revised. To provide the much-needed infrastructure and support, the state government created its own incubator called O-Hub (Opportunity Hub) or Odisha Startup Hub, which spans 400,000 square feet. It’s one of the largest incubators in the country. To help create other incubators in the state, we have provisions for grants, and we have recognised about 27 incubators across the state. Under this, we offer startup grants, which are a kind of monthly allowance for a year. We also provide product development and marketing assistance grants of up to ₹15 lakh for startups. For startups engaged in serious research where they require longer time, bill of materials and capital expenditure, we offer case-by-case and need-based assistance, with no upper ceiling. We are also very aware that the startup ecosystem needs seed support, as well as early venture capital support.
Global Connections and Collaboration
One of Hunch Circle’s key features is its ability to connect Odisha-based startups with international investors and industry leaders. By building a network that spans across countries, the platform enables startups to collaborate with experts and potential partners from different parts of the world. This exposure has allowed entrepreneurs to enhance their offerings, adopt best practices from global markets, and explore new business opportunities.
Bridging Gaps for Local Startups
Hunch Circle’s efforts to support Odisha startups go beyond simply providing financial backing. The platform addresses gaps in knowledge, resources, and exposure, making it easier for startups to navigate the challenges of global expansion. For startups in Odisha, Hunch Circle acts as a bridge, connecting them with a wealth of information and guidance on how to enter and succeed in competitive international markets.
Empowering Odisha’s Entrepreneurs
Startups in Odisha, traditionally seen as a region with potential but limited access to international markets, are now leveraging Hunch Circle’s platform to break through these barriers. By offering guidance on various aspects of scaling up such as investment strategies, market entry, and global networking Hunch Circle has played a pivotal role in helping these startups turn their local success into global growth.
Future of Odisha’s Startup Ecosystem
Hunch Circle’s ongoing efforts are poised to have a long-lasting impact on Odisha’s startup ecosystem. With more startups gaining visibility and access to global markets, the future looks bright for the region’s entrepreneurs. Hunch Circle’s mission of fostering innovation, collaboration, and global reach will continue to shape the future of startups in Odisha, setting a new precedent for how regional businesses can think and act on a global scale.
Conclusion
The MoU underscores the shared vision of Hunch Ventures and Startup Odisha to foster sustainable innovation, empower entrepreneurs, and unlock opportunities for Odisha – based startups to scale on a global platform. The partnership will focus on delivering tailored market entry programs, comprehensive mentorship, funding opportunities, and logistical support for startups looking to enter developed markets across Asia, Europe, the UK, and the USA.
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