Coimbatore, Mar 16 (KNN) Micro, Small, Medium Enterprises (MSMEs) in Tamil Nadu that are startups or incubatees of SRM Institute of Science and Technology (SRMIST) will be supported through direct financing under a partnership with Tamil Nadu Industrial Investment Corporation (TIIC).

To boost credit delivery to MSMEs and startups, TIIC has signed an MoU with with SRMIST and Project Management Associates (PMA).

This is one of the initiatives taken by the state government of Tamil Nadu to create an innovation-friendly startup ecosystem by partnering with various stakeholders.

Through this pact TIIC is aiming at developing new mechanisms to increase credit delivery to the MSME sector in the State. 

Capacity building programmes will be organised by the PMA for officers of TIIC from next month which will focus at improving management capabilities of clients of TIIC.

This is expected to improve the quality and efficiency of the assistance which will benefit MSMEs. (KNN Bureau)