Odisha government ties up with TiE Silicon Valley

The World Bank ranks Bhubaneshwar as the third best city in India to do business. Validating this ranking, the last 12 years has seen a transformation in Odisha, with dramatic capacity building in information technology exports, steel, aluminum, technical education, power generation and port capacity.

A land steeped in temples and tradition, Odisha is fast gaining traction in technology and trade as a favored destination for investment, with its vast natural and mineral resources, ample power supply, skilled workforce, stable government and investor-friendly policies.

In keeping with its entrepreneur spirit, TiE-Silicon Valley has embarked on yet another pioneering initiative, one that could be a model for similar global entities seeking to establish ties to Silicon Valley.

A high-powered delegation from Odisha visited TiE offices on May 12 and signed a partnership agreement between TiE-Silicon Valley and the government of Odisha.

Under the agreement, the Odisha government would have a professional stationed at TiE headquarters, becoming the first Indian state to take that step.

"We intend to hire a business development person who will spend his time promoting Odisha as an investment destination," said Venktesh Shukla, president of TiE Silicon Valley.

Vishal K. Dev, secretary, Odisha Department of Industry, addressed the annual conference of TiE-Silicon Valley on the first day of the two-day conference to outline the TiE-Odisha partnership agreement and announce other initiatives in his state, including a planned high-tech park and a $20 mn venture capital fund.

Over the last decade, Odisha's economy has grown at a trailblazing 9%, higher than India's national growth rate. TiE stands for talent, ideas and enterprise, which is the main motivation for the Indian state to tap into the organization's vast and diverse expertise, networks and knowledge.