OUTR establishes incubator to propel tech-based innovations

Bhubaneswar: Odisha University of Technology and Research (OUTR) in Bhubaneswar established a technology business incubator, OUTR-Foundation for Innovation and Entrepreneurship (OUTR-FINE), on its campus last week to transform technology-based innovative ideas into commercially viable products with a competitive edge. This state university has already begun incubating six startups, including four technology-based and two service-based companies.

“OUTR-FINE will operate like a company. We will promote startups through our technology business incubator (TBI),” said Bibhutibhusan Biswal, vice-chancellor of OUTR Bhubaneswar and chairman of the board of directors for OUTR-FINE.

He added that the existing TBI can accommodate 20 startup companies. A building is currently under construction to house at least 50 startup companies, with a target completion date within two years, said sources.

“Our faculty members are assisting the startups in solving various technology-related issues, and we are also encouraging our students to become entrepreneurs,” said Biswal. Ranjan Kumar Pradhan, a professor and one of the directors of OUTR-FINE, said that they have recently signed MoUs with a private bank, a private university’s TBI, a govt knowledge innovation cluster and several industry partners.

We also published the following articles recently

Technology & incubation lab comes up at cantonment area in Sambhajinagar The Indian Army has inaugurated 'Anveshana', a new technology and incubation lab in Chhatrapati Sambhajinagar, in collaboration with MAGIC and Govt College of Engineering Aurangabad. The lab, featuring AI, virtual reality, drone tech, and robotics, aims to bolster defence innovations and aligns with the Atma Nirbhar Bharat mission. Engineering students will work on defence problem statements.

Karnatak University waits for a regular vice-chancellor Karnatak University in Dharwad faces administrative challenges due to the delayed appointment of a new vice-chancellor. Financial woes, including a severe crunch and pension payment issues, add to the struggles. No new academic appointments have been made in seven years, impacting the university's functionality. The state government has yet to authorize the process for selecting a new VC.

ASML has lost it position as Europe's most-valuable technology company, here's the new No. 1 ASML Holding NV has been surpassed by SAP SE as Europe's top tech company due to a significant market cap drop. Issues like delays in chip plant construction and cautious spending by major customers have hurt ASML, while SAP thrives on rising demand for its AI-driven cloud solutions, boosting its market value.