Tamil Nadu Current Affairs

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Startup and Innovation policy of Tamil Nadu

The government of Tamil Nadu has released Startup and Innovation policy 2018-2023 with a mission of providing an enabling and innovative ecosystem for startups registered in the State and to make Tamil Nadu a ‘Global Innovation hub for startups’ by 2023.

Objectives of the Policy

The core objectives of the Startup and Innovation policy 2018-2023 are:

  • Creation of at least 5000 technology startups of which at least 10 global high growth startups in social impact sectors.
  • Infrastructure support to strengthen existing mechanism in areas like the Internet of Things (IoT), Artificial Intelligence (AI), Machine Learning (ML) and Software as a Service (SAAS)

Components of the Policy

The important components of the Startup and Innovation policy 2018-2023 are:

  • The policy aims to collaborate with educational institutions to promote entrepreneurial spirit, reduce existing regulatory and tax burden on startups in the field of labour, pollution and building norms.
  • The policy aims to partner with reputed investors across the globe to bring investment to the Tamil Nadu startups.
  • The policy envisages nurturing aspiring entity or individuals (defined as ‘Start Steps’) who develops a potentially scalable business model that can generate wealth and employment.
  • Entrepreneurship Development Institute of India (EDII) will act as a nodal agency to promote and facilitate startups.
  • Tamil Nadu Startup and InnovaTN Mission (TANSIM) headed by a full-time officer will advocate and oversee policies and programmes for promoting startups.
  • Tamil Nadu Startup Seed Grant Fund (TNSSGF) of Rs 50 crore with an allotment of Rs 5 crore in the first year in partnership with financial institutions and universities for supporting early-stage financing requirements of the startups in the form of grants to fill the gap in fund requirement for research & innovations.

Implementation of the Policy

The government of Tamil Nadu has set a 5-point action plan for implementing the policies. It includes:

  • Creating ecosystems for encouraging innovations.
  • Ensuring resources availability to Startup ecosystem.
  • Enabling skill development and job creation.
  • Supporting social entrepreneurship.
  • Establishing global accessibility and partnerships.

Definition of the Start-up

The policy lists the following criterions to be recognised as the start-up in Tamil Nadu:

  • Registration under Tamil Nadu Startup and InnovaTN Mission (TANSIM).
  • Date of incorporation less than 7 years (less than 10 years in case of biotechnology, AI and ML startups).
  • Registration and turnover less than Rs 25 crore in any of the financial years.

The policy aims for a minimum of 1,00,000 high skilled job creation, direct and indirect, in the Startup Ecosystem.

Month: Categories: States Current Affairs - 2018UPSC Current Affairs - 2019

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Coins to commemorate MGR’s 102nd birth anniversary

Tamil Nadu Chief Minister Edappadi K Palaniswami released two commemorative coins in the denominations of Rs 100 and Rs 5 to mark the 102nd birth anniversary of DR M G Ramachandran. The first sets of coins were received by Deputy Chief Minister O Panneerselvam at an event organised at the Tamil Nadu MGR Medical University.

The commemorative coins bear the portrait of Ramachandran at the centre along with the inscription ‘DR M G Ramachandran Birth Centenary’ on the lower periphery.

Commemorative coins in India

Commemorative coins are issued to celebrate some special occasion or to mark a special event or as a mark of respect towards some distinguished individuals or monument.

The first Commemorative coin in Independent India was issued in 1964 to commemorate the birth anniversary of India’s first Prime Minister Jawaharlal Nehru. Thereafter many Commemorative coins have been issued.

The lower denomination commemorative coins are usually for general circulation and their metal composition is usually in line with the regular coins, whereas the higher denomination commemorative coins usually contain some silver and are meant for collection purposes only.

DR M G Ramachandran

DR M G Ramachandran popularly known as M. G. R is an actor, filmmaker and politician who served as the Chief Minister of Tamil Nadu for ten years between 1977 and 1987.

Month: Categories: India Current Affairs 2018

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