Chennai, July 5 (KNN) The newly launched Research & Development Policy 2022 of Tamil Nadu proposes the Tamil Nadu Startup and Innovation Mission (TANSIM) to establish regional start-up hubs in smaller towns and cities.

The R&D Policy 2022 along with the Life Sciences Policy 2022 was unveiled by Chief Minister M.K. Stalin on Monday.

Connecting to the world, i-Tamil Nadu Technology Hub (iTNT) will build a Deeptech Innovation Network and MSME Innovation Research Programme under the R&D Policy.

The policy also proposes a number of funding avenues for such measures and aims to double expenditure for research by 2030.

It also intends to promote R&D in private sector by targeting new indigenous performing firms in both manufacturing and service sectors.

The objective of the Life Sciences policy is to attract Rs 20,000 crore investment in the field and generate 50,000 jobs in the State making it a favourable and preferred destination for researchers in biologics, biosimilars and medical technology.

It also proposes to simplify regulations and improve ease of doing business for life sciences firms and build local production capacities and increase import substitution of pharmaceutical products and cutting-edge medical equipment.  (KNN Bureau)