Tamil Nadu Chief Minister Hands Over Sanction Orders for Rs. 6.5 Crore Equity Investment in 5 Startups by SC/ST Entrepreneurs
Chennai : Chief Minister of Tamil Nadu Thiru. M.K. Stalin handed over sanction orders for Rs. 6.5 Crore as equity investment under the Tamil Nadu SC/ST Startup Fund in 5 Startups that are run by entrepreneurs from Scheduled Caste and Scheduled Tribe communities. The event was held at the Kalaivanar Arangam here on Wednesday.
The investees who received the sanction orders are from the Electronics Manufacturing, Agri Tech, Healthcare and the Food and Agri sectors. These Startups are based out of Chennai, Tiruvallur, Perambalur and Kanniyakumari districts. This includes two Startups run by Scheduled Tribes, of which one of them is fully run by tribal women. So far, the Government has given away sanction orders to the tune of Rs. 34.6 Crore to 26 Startups. Investment from the Government brings more credibility to the Startups, helping them acquire new clients and expand to new markets. StartupTN also provides mentorship and post-investment support to help them achieve their goals more efficiently.
The event was held in the presence of the Hon’ble Minister for Municipal Administration, Thiru. K.N. Nehru; Hon’ble Minister for Micro, Small and Medium Enterprises, Thiru. T.M. Anbarasan; Hon’ble Minister for Hindu Religious and Charitable Endowments, Thiru. P.K. Sekarbabu; Hon’ble Minister for Labour Welfare and Skill Development, Thiru. C.V. Ganesan; Hon’ble Minister for Adi Dravidar Welfare, Tmt. N. Kayalvizhi Selvaraj; Chief Secretary, Thiru. Shiv Das Meena, I.A.S.; Secretary to Government, Adi Dravidar Welfare Department, Tmt. G. Laxmi Priya, I.A.S., Chairman of Tamil Nadu Adi Dravidar Housing Development Corporation (TAHDCO), Thiru. U. Mathivanan; StartupTN Mission Director and CEO Thiru. Sivarajah Ramanathan and other higher officials.
Details of the Startups that received sanction orders on Wednesday and how the investment will benefit them are given below:
Ecopmin Technologies Pvt Ltd (Sector: Electronics Manufacturing)
Investment: Rs. 3 Crore
Ecopmin 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.
Adhiban Farms Pvt Ltd (Sector: Agri Tech)
Investment: Rs. 2.2 Crore
Adhiban Farms focuses on producing eggs as functional foods from ethically raised hens. 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.
COEO Wellness Pvt Ltd (Valar Life) (Sector: Healthcare)
Investment: Rs. 60 Lakh
Valar Life is into selling bamboo toothbrushes manufactured through third party vendors, thereby making it an Asset Light Model. The fund will help them expand their toothbrush segment using the same model.
Mannvasanai Traditional Food Pvt Ltd (Sector: Food)
Investment: Rs. 45 Lakh
Mannvasanai is in the business of procuring, processing and manufacturing millet and traditional rice products. The investment will help them scale their ready-to-cook range of products.
Nanjil Nadu Kani Tribal Women Creations Pvt Ltd (Sector: Food & Agri)
Investment: Rs. 25 Lakh
Nanjil Nadu Kani Tribal Women Creations is a Kanniyakumari based company formed and run by tribal women. It is selling value-added products from forest produce. The fund will help them scale up their business.