Tamil Nadu Chief Minister M.K. Stalin on Wednesday handed over sanction order for ₹6.5 crore as equity investment under the Tamil Nadu SC/ST Startup fund for five startups. All these startups are run by entrepreneurs from Scheduled Caste and Scheduled Tribe communities. These entrepreneurs run businesses in electronics manufacturing, agri tech, healthcare and food sectors. These Startups are based out of Chennai, Tiruvallur, Perambalur and Kanyakumari districts.
Till date, the Tamil Nadu government has given away sanction orders to the tune of ₹34.6 crore to 26 startups. According to details provided by the Tamil Nadu Startup and Innovation Mission (StartupTN), mentorship and post-investment support will also be provided to these entrepreneurs to help achieve their business goals. Investment from the government brings more credibility to the Startups, helping them acquire new clients and expand to new markets.
Ecopmin Technologies Pvt Ltd, one of the firms that received a funding of ₹3 crore is a manufacturing and trading company focusing on selling consumables to the electronic manufacturing service (EMS) industry. The fund will help them establish a production line for manufacturing and assembling Board Handling Systems (BHS) for Surface Mount Technology (SMT) lines.
Another firm Adhiban Farms which got a funding of ₹2.2 crore is into poultry business. Details about this firm which was shared by StartupTN shows that the process of producing functionally enriched eggs with Omega-3 is through biotechnology-based feed enhancement. The farm is currently Certified Humane, which is an internationally recognised certification. The investment will help them scale their operations by expanding its free-range vertical and the addition of two new verticals – cage-free farming and training.
Nanjil Nadu Kani Tribal Women Creations, a Kanyakumari based startup which is operated by trial women, got a funding of ₹25 lakh. These women sell value-added products from forest produce and the funding will help them scale up their business.
A startup called COEO Wellness (Valar Life) was given ₹60 lakh and Mannvasanai Traditional Food which is in the business of procuring, processing and manufacturing millet and traditional rice products got ₹45 lakh.
