Berhampur, May 31 (Localwire): Students of government-run Industrial Training Institute (ITI) have set up their own business ventures after receiving funds from Odisha Skill Development Authority (OSDA).
Describing them as “nano unicorns”, ITI principle Rajat Kumar Panigrahy said these young motivated entrepreneurs have not only become self-employed but would also help create jobs for others.
The ITI graduates have opened tailoring, electrical repairing, fast food, plumbing, welding, among other independent ventures for their livelihood, he said.
Rasmita Kumari Swain, who had started a tailoring unit here, had received Rs 1 lakh from OSDA. Swain was one of the ITI graduates in 2016-17. Similarly, Banamalai Nayak has opened an electrical repair unit.
USDA provides interest-free loans to ITI graduates who are interested in opening their own ventures. The selected candidates undergo a week-training at Bhubaneswar before starting their business.
Around 25 ITI students have received the interest-free loans for opening a small business. They get one year time to repay the loan, the principal said.
“We have felicitated these nano unicorns at a programme recently to encourage them,” the principal added.