MADURAI: A stakeholders meeting was hosted by the SIPCOT to discuss the proposed establishment of a state-of-the-art Industrial Innovation Centre in Madurai, on Thursday.
Addressing media persons, Dr K Senthil Raj, MD of SIPCOT, stated that with the objective of fostering innovation and supporting the growth of technology- based startups, the state govt during the Budget session had announced the IIC would be established in Madurai.
The centre will cover an area of 26,500 sq.ft in Madurai for Rs 24 crore, availing a grant of Rs 10 crore from the Tamil Nadu Innovation Initiatives (TANII scheme) under the State Planning Commission.
He added that this will be the third such centre in the state, after Sriperumbudur and Hosur. At the meeting, discussion was held with various stakeholders on suggestions about the facilities and equipment needed to be integrated in the centre. Following tender process, the works will be completed within a six-month period.
The centre will provide assistance in advanced digital production technologies for continuous (Process), manufacturing, sustainable energy, fuels & resources, climate change resilience & reversal and digital transformation of food production and processing. It will also provide training for students to increase skills in various streams.
The centre will have co-working spaces for innovators/startups, industry 4.0 equipment, product development centres, prototyping facilities and training centres. The centre is envisaged to evaluate over 500 innovative ideas, 100 prototypes and promote over 20 startups till seed investment stage. Over 300 training sessions are envisaged to be conducted, providing training for more than 4,000 students, professionals and other enthusiasts.
Responding to questions about the developments on the Thoothukudi Industrial Corridor Project, Senthil Raj said the state government is taking measures towards initiating the industrial corridor project, and various industrial developments are to be brought in the venue. On another question about the proposed industrial estate in Melur, he said that development works are under way.