Chennai, Dec 29 (KNN) To promote innovations and technology driven entrepreneurship, Ministry of MSME has planned to set up 10 incubation centres in Tamil Nadu in next five years.

Union Minister for MSME Kalraj Mishra was addressing the newspersons after inaugurating SOUMEX 2014, a three-day sourcing and manufacturing exhibition organised by the National Small Industries Corporation (NSIC) and Tamil Nadu Small and Tiny Industries Association (TANSTIA) recently.

The minister said that the Centre will buy expensive design software and rent it to MSMEs for a nominal fee, according to a media report.

“The first incubation centre will be set up in Chennai while the rest will come up after consulting the State government, which will identify the campuses to house these centres” the minister added.

The minister further said that the objective is to promote emerging technological and knowledge-based innovative ventures that seek nurturing of ideas from professionals beyond the traditional activities of MSMEs.

Elaborating further, Mr Mishra said a ‘tool’ room will be set up in Palakkad to help BTech and MTech graduates get training on designing manufacturing tools. (KNN/TR)