Tamil Nadu's start-up policy is just 3-months away: MSME Secretay, TN

Coimbatore, June 25 (KNN) Tamil Nadu’s startup policy will be ready within three months which is meant to support and guide youngsters who have good ideas, said Dharmendra Pratap Yadav, secretary, Micro, Small and Medium Enterprises (MSME) Department, Government of Tamil Nadu.

He was speaking at the Smart India Hackathon-Hardware edition’s finals.

He said the government is all set to launch ‘innovation voucher scheme’ to promote startups.

He also said the state government has already begun working on coming out with a startup policy.

“We want to create a support system where we can help young entrepreneurs develop and fine-tune their idea better, help them raise capital, guide them through the production process and finally marketing it. All this is critical to help them succeed,” he said.

“This assistance will be offered by the MSME department when they come to register themselves,” he added.

On ‘Innovation voucher scheme’, which involves giving promising startups small lines of credit of Rs 2 lakh to Rs 4 lakh, he said the government order had been issued and funds would be disbursed. The government has allotted Rs 20 crore for this scheme.

“We have so far tied up with 300 engineering colleges, so they can recommend some of their promising students and their ideas to the government. We want to include another 150 colleges,” said the secretary.