Launch of ₹5-crore project at Mangattuparamba tomorrow

The Malabar Startup Incubation Centre (MSIC), the first such venture being started in Malabar, will be inaugurated at the Kerala Clays and Ceramic Products Ltd.’s (KCCPL) unit at Mangattuparamba here on February 22.

Announcing this at a press conference here on Wednesday, local MLA T.V. Rajesh and KCCPL chairman T.K. Govindan said the MSIC was being started as part of the launch of the diversification programme by the public sector company under the Industries Department.

The incubation centre would be inaugurated by Chief Minister Pinarayi Vijayan at Mangattuparamba here at 6 p.m. Industries Minister E.P. Jayarajan and MPs P. Karunakaran and P.K. Sreemathy would participate in the function.

Mr. Rajesh said the State government had granted ₹5 crore for the MSIC project being started in collaboration with the Kerala Startup Mission.

There is no start-up incubation centre in parts of the State north of Ernakulam district. The State government has granted preliminary sanction for the ₹9.5-crore proposal submitted by the KCCPL for starting a dairy farm and coconut processing unit as part of the company’s diversification programme. Mr. Govindan said the diversification of the company into other areas was being considered in view of the shortage of raw material as two clay mining units of the company had been closed due to environmental issues.

The KCCPL and the Kerala Startup Mission envisage exploration of business opportunities and development by introducing achievements in the IT sector to start-up entrepreneurs.

In the first phase, 305 seats were arranged in 23,000 sq ft area for starting 50 start-up companies, he added.

source: http://www.thehindu.com / The Hindu / Home> News> States> Kerala / by Special Correspondent / Kannur – February 20th, 2019