Tamil Nadu Chief Minister M.K. Stalin on Wednesday handed over sanction orders for investments to the tune of ₹10.85 crore in eight-State based startups that are run by entrepreneurs from the SC/ST communities.
The startups are based out of Chennai, Coimbatore, Tiruppur and Ramanathapuram districts. Two of these startups have women co-founders. The Tamil Nadu Startup and Innovation Mission (StartupTN) will provide mentorship and post-investment support for these firms.
Icam Technosys which is creating a Business-to-Business (B2B) e-commerce platform (Tribal Mart) for tribal-made products was given a funding of ₹50 lakh. This investment will help the company enhance the traceability of tribal work and leverage B2B channels to scale the volume of sales. Vervai Food Products received ₹25 lakh in funding. The firm is into up-cycling of second-grade and cosmetically-damaged vegetables into edible value-added products with an aim to improve farmers’ incomes, while retaining the nutritive value of the products. This investment will help them set up a processing unit to enable scaling their product range and to set up marketing channels to support sales.
