About Us
FASTECH is an NIT Rourkela based start-up recognised by Start-up India, Start-up Odisha and MSME. Started in 2017 by two friends Biswojeet Kiro and Abhijeet Sahoo in 2nd year of B-Tech, with just 3 Lakhs of initial capital. Currently we have our offices and factory in Rourkela and Bhubaneswar. We have presence in 10+ Cities. We also have a handloom processing unit in Nayagarh. Till now we haven’t taken any investments or loans as we have been profitable since day 1.
The journey of starting up in college as a tshirt merchandising company to manufacturing uniforms, handlooms and other innovative products have been very exciting. We focus on three segments Customised Clothing (Fastech), Casual – Ethnic Fusion (Hastavik), Smart Textiles (MVP).
The Indian textile and apparel market reached a value of US$ 133 Billion in 2020 and is expected to grow at a CAGR of 13.80% during 2021-2026. (Src: Business Standard) The corporate uniform segment in India is approximately $2.86bn and is growing at a CAGR of 11.21per cent. (Src: Business Standard) Total Number of Schools in Odisha alone is 50000+ And 500+ Corporate offices in Bhubaneswar alone. The Textile Industry employs over 40 million workers directly and roughly provides employment to over 60 million people in India. Though there are many competitors in other parts of the country in this sector, there is a regional advantage for us. The textile industry in Odisha is just in its initial phase, unlike Ludhiana and Tirupur where there is stiff competition.
Happy to Share that, We have been selected in top three start-ups of Odisha out of 930+ registered start-ups by Start-up Odisha to be felicitated by The Sambad event in presence of Shri Subroto Bagchi Sir. We have been selected for apparel and textile grant worth 4.31 Crores by SPINFED, Ministry of Textiles, Odisha. Selected in top 10 potential start-up and team in all Odisha by Start-up Odisha. Appreciated by big personalities like Padmashri N. R. Mohanty sir (Ex Chairman HAL), Shri C.P. Gurnani Sir (CEO Tech Mahindra), Shri Kumar Mangalam Birla sir (Chairman, Aditya Birla Group), Shri Dharmendra Pradhan ( Petroleum minister), Shri Subroto Bagchi sir (Chairman, Odisha Skill development)
