Bhubaneswar: The Foundation for Technology & Business Incubation (FTBI) at the National Institute of Technology (NIT) Rourkela celebrated its 10th Foundation Day with great enthusiasm.
An event was organised at the FTBI premises to commemorate a decade of nurturing innovation-driven entrepreneurship since its inception in 2016.The ceremony was graced by Keshav Rao, Director (HR), Mahanadi Coalfields Limited (MCL), as Chief Guest, and Dr. Chandan Bansal, MD, Medicine & Diabetologist and Managing Director of JP Hospital, Rourkela, as Guest of Honour.
Chiranjib Samal, CEO, FTBI, delivered the welcome address, stating, “Our vision is simple — to support ideas and help them flourish and transform into successful entrepreneurship.”
Prof. Subrata Kumar Panda, President, FTBI, highlighted the centre’s significant contributions. FTBI has incubated over 110 startups, including 85 male-led and 25 female-led ventures. Three startups have achieved valuations exceeding Rs 100 crore. The incubated companies have collectively raised over Rs 70 crore in funding, received Rs 10 crore in facilitation support, filed more than 30 patents (12 granted), and generated nearly 700–1000 direct and indirect employment opportunities in the region.
Keshav Rao appreciated FTBI’s role in building a vibrant startup ecosystem. He noted MCL’s support to nearly 30 FTBI startups through funding and initiatives focused on innovation, skill development, R&D, and women & tribal entrepreneurship. He emphasised the need for academic institutions to provide flexible pathways for student entrepreneurs.
During the event, FTBI signed an MoU with Jaiprakash Hospital and Research Centre to boost collaboration in healthcare innovation, medical technology, and biotechnology. The partnership aims to foster startup-driven healthcare solutions through joint research, clinical validation, and mentorship.
Dr. Chandan Bansal expressed delight over the collaboration, saying it would integrate clinical expertise with academic and technological capabilities to solve real-world healthcare challenges. Prof. K. Umamaheshwar Rao, Director, NIT Rourkela and Chairman, FTBI, thanked MCL and JP Hospital for their partnership. He urged young entrepreneurs to leverage AI and focus on solving pressing societal issues in food, climate, energy, and cybersecurity.
The event concluded with startups showcasing their innovations, followed by networking sessions. Samal thanked all stakeholders, including DST, MeitY, Startup Odisha, and industry partners, reaffirming FTBI’s commitment to strengthening India’s startup ecosystem.