Special seed fund to support startups of trans persons, disabled to be set up

StartupTN will identify potential beneficiaries throughout the state.
Representative image
Representative image

CHENNAI: A special seed fund will be introduced by the state government to support the startups run by persons with disabilities (PwDs) and transgender people in the state, said MSME minister TM Anbarasan during the demand for grants for the department on Friday, adding the seedfund will help achieve inclusive growth. StartupTN will identify potential beneficiaries throughout the state.

In order to encourage employment of PwDs, it has been proposed to extend the payroll subsidy to all new manufacturing MSMEs that employ more than 25% of their workforce from differently-abled section of the community, subject to a ceiling of Rs 24,000 per PwD per annum, for the first three years, the minister said. He also announced new regional startup hubs will be established in Coimbatore and Tiruchy cities in the current financial year. Regional Startup Hubs have already been established in Madurai, Tirunelveli, Erode, Salem, Hosur, Cuddalore, and Thanjavur in the last two years.

Anbarasan also announced that Global Startup Coordination Centres will be established in Singapore and the United States in 2024-25 to support startups registered in Tamil Nadu in expanding their business.

The minister announced that a modern design studio named ‘ThozhilNayam’ will be established at StartupTN Chennai Metro Hub to fulfil the requirements of startups in designing their products. He said ‘Kalaignar Credit Assistance Scheme’ will be launched wherein easy access to credit up to Rs 20 lakh will be provided to micro manufacturing enterprises through TAICO Bank at a competitive interest rate of 7% with at an outlay of Rs 100 crore. He announced the upper limit of annual family income under Unemployed Youth Employment Generation Programme will be increased from Rs 5 lakh to Rs 8 lakh.

Other announcements

The Chennai region of the Micro Small Enterprises Facilitation Council will be bifurcated into Chennai and Vellore regions. Madurai region of the council will be bifurcated into Madurai and Thoothukudi regions

TANSIDCO will establish a New Tiny Industrial Estate for Micro Units at Thirumudivakkam, Kundrathur Taluk, Kancheepuram district in an extent of 2.47 acre at a project cost of Rs 2.5 crore which will generate employment to 500 persons

TANSIDCO will establish a New Industrial Estate for MSME units at Kothayam, Ottanchathiram taluk in Dindigul district spread over 53.50 acres at a cost of Rs 16.58 crore which will generate employment to 2,000 people

School Innovation Development Project (SIDP) will be extended to all government high schools in the state for the students studying from classes 6 to 12 at a cost of Rs 4.11 crore

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