It is important to boost innovation and entrepreneurship and Tamil Nadu is doing the same. Its Industries Minister TRB Rajaa lately awarded grants to 14 promising startups under the State Industries Promotion Corporation of Tamil Nadu’s (SIPCOT) industrial innovation and scale-up programme. The initiative is basically designed to support the startups and simultaneously the micro, small and medium enterprises (MSMEs).
The selected startups are from various sectors and it highlights the diverse potential for innovation within the state. Some of the startups selected under the initiative are Fabheads Automation, Jidoka Technologies, Tomgo Agro Machines, Suzhiyam Industrial Machines, Welkinrim Technologies, Unibose Technology, Raptee Energy and Yali Aerospace. The companies are from various sectors including industrial automation, aerospace, defense, sustainability and urban technology.
The grants are tailored to help the startups in their development stages. Evaluation committee that includes officials from SIPCOT and the Tamil Nadu Startup and Innovation Mission (TANSIM) identified and selected the startups for the grants.
The grants reflect commitment of SIPCOT to foster deep-tech solutions. It is aimed to support product development, pilot deployments, pilot manufacturing and product commercialization. The SIPCOT board approved SIIC grants totaling ₹3.8 crore in 2023.
SIPCOT has also established Industrial and Innovation Centres at its industrial parks in Hosur and Sriperumbudur at an investment of ₹33.5 crore. The centres are developed in partnership with the Coimbatore Innovation and Business Incubator (CIBI). It provides the startups with access to co-working spaces and product labs. Currently, the two centres host 12 and 22 startups and MSMEs respectively.
The grants represent a vital step in empowering startups in Tamil Nadu. The state is currently positioning itself as a leader in the new wave of industrial innovation.
