Coimbatore: The much-awaited 'Atal Incubation Centre and the Defence Innovation hub' is nearing reality, with final clearance from the Ministry expected in three weeks. Both the innovation hub and incubation centre will be set at the CODISSIA industrial park at Kallapalayam.
Coimbatore: The much-awaited 'Atal Incubation Centre and the Defence Innovation hub' is nearing reality, with final clearance from the Ministry expected in three weeks. Both the innovation hub and incubation centre will be set at the CODISSIA industrial park at Kallapalayam.
The Defence Innovation hub will serve as a nodal hub for the Defence corridor in Tamil Nadu connecting all the five centres - Chennai, Coimbatore, Salem, Hosur and Trichy. The hub will be funded by the Ministry of defence which will allot Rs.15 crore funding for machinery Rs.5 crore, as soft loan for working capital.
The innovation hub will come out with new products for defence forces and is expected to manufacture 75 products for defence forces.
The Atal Incubation Centre will be jointly funded by Ministry of Finance under Niti Aayog and CODISSIA, 3ach contributing Rs.10 crore each. Land and building for both innovation hub and incubation centre will be provided by CODISSIA. Documentation and final paper work for the incubation centre is expected to be completed in three weeks time after which work for the centre will commence at CODISSIA.
Speaking on this, CODISSIA President R. Ramamurthy said, "This is the first of its kind centre in the country where defence innovation and incubation has been brought under a single platform, Innovation for Defence excellence (IDEX). CODISSIA has earmarked one acre of land to build the innovation hub at Kallapalayam, here. We are yet to get approval for the building plan for the hub and the centre. Once we get clearance from the Finance Ministry for Atal Incubation Centre, things will gather speed and work will commence shortly."
"The defence hub and incubation centre will be a big boon for the MSMEs of the State. Since all the five nodal centres will be brought under one hub, it would largely help more MSMEs to come into defence production and overall turn beneficial to MSMEs", added Ramamurthy.
The Defence Innovation hub will serve as a nodal hub for the Defence corridor in Tamil Nadu connecting all the five centres - Chennai, Coimbatore, Salem, Hosur and Trichy. The hub will be funded by the Ministry of defence which will allot Rs.15 crore funding for machinery Rs.5 crore, as soft loan for working capital.
The innovation hub will come out with new products for defence forces and is expected to manufacture 75 products for defence forces.
The Atal Incubation Centre will be jointly funded by Ministry of Finance under Niti Aayog and CODISSIA, 3ach contributing Rs.10 crore each. Land and building for both innovation hub and incubation centre will be provided by CODISSIA. Documentation and final paper work for the incubation centre is expected to be completed in three weeks time after which work for the centre will commence at CODISSIA.
Speaking on this, CODISSIA President R. Ramamurthy said, "This is the first of its kind centre in the country where defence innovation and incubation has been brought under a single platform, Innovation for Defence excellence (IDEX). CODISSIA has earmarked one acre of land to build the innovation hub at Kallapalayam, here. We are yet to get approval for the building plan for the hub and the centre. Once we get clearance from the Finance Ministry for Atal Incubation Centre, things will gather speed and work will commence shortly."
"The defence hub and incubation centre will be a big boon for the MSMEs of the State. Since all the five nodal centres will be brought under one hub, it would largely help more MSMEs to come into defence production and overall turn beneficial to MSMEs", added Ramamurthy.