Today’s startups are multinational companies of tomorrow: PM Modi at IIM Sambalpur

Today’s startups are the multinational companies of tomorrow, Prime Minister Narendra Modi said on Saturday adding that the scope of startups is increasing from farming to the space sector.

Prime Minister Modi laid the foundation stone for the permanent campus of IIM-Sambalpur, Odisha, via video conferencing today.

“Today’s startups are the multinational companies of tomorrow. Most startups are coming up in tier II and III cities of the country. From the farming sector to space sector, the scope for startups is increasing,” said PM Modi on the occasion.

The permanent campus of IIM Sambalpur will represent the great heritage of Odisha, the Prime Minister stated.

“Despite the COVID-19 pandemic, India has witnessed more number of unicorns in 2020. The youth have a huge responsibility towards Brand India,” he added.

“Till 2014, there were 13 IIMs in India. Today, there are 20 IIMs. Such a large talent pool can help strengthen the ‘Atmanirbhar Bharat’ campaign,” said PM Modi.

Present on the occasion, Chief Minister Naveen Patnaik said, set up in 2015, IIM Sambalpur has already proved its mettle.

“I am delighted that the Prime Minister is laying the foundation stone for infrastructural development of IIM Sambalpur. In just about five years it (IIM Sambalpur) has been able to cast its positive impact upon the hierarchy of educational institutions in Odisha,” said Patnaik.

Odisha has a tradition of excellence in education since ancient times, he added.

“Education in Odisha is witnessing a rapid transition. I am happy that our state continues its dominance in the education sector and has emerged as the education hub of Eastern India,” Patnaik added.

According to an official statement, IIM Sambalpur is the first IIM to implement the idea of the flipped classroom where the basic concepts are learnt in digital mode and experiential learning takes place in the class, through live projects from the industry.

The Institute also outscored all other IIMs in terms of the highest gender diversity with 49 per cent girl students in MBA (2019-21) batch and 43 per cent in MBA (2020-22) batch, the statement said.