PARTICIPATION IN MSME SANGAMAM : EVENT ON 23/11/2024
By Dr.M.Somasundaram, Dean – Research / JGI

Laghu Udyog Bharati (LUB) is a registered All India organization of Micro and Small Industries in India since 1994. It has presence in 27 States and about 51,000 member companies (including startups) across India including 4,000 in Tamilnadu.

LUB has organized an event MSME Sangamam on 23/11/2024 at IIT Madras Research Park. It covered all MSME companies in Tamilnadu and Pondicherry where about 1,000 companies participated. I attended the event. Following are the key points:

1. There are many opportunities for our students and alumni who can establish startups taking help and support by involving in the above LUB
2. Fundings are available for startups thru various Banks, Govt agencies etc who displayed their offerings in the stalls. They are ready to visit our college and address student / entrepreneurs
3. China  plus One strategy is a Global Strategy by which global companies are reducing investments in China and increasing in other countries. So Indian companies and their sub-contractors (startups by our students / alumni) can get business – including core engg like Mech, Textile,  Aero, Electronics etc.
4. LUB has tied up with various organisations like CSIR. And in the last 60 days, they have signed 57 technologies with them and almost 25 more are in pipeline. And 50% of Transfer of Technology has happened from Tamil Nadu and majority are from women entrepreneurs. Entrepreneurs can take such technologies from CSIR and establish startup companies.
5. Some MSME entrepreneurs , well established in their business are willing to come and address our students / alumni and help and guide. (Some of them are doing in other colleges like Sairam, SVCE etc).
6. There was a special keynote address by Mr. Sridhar Vembu, Founder – CEO, Zoho, who gave many suggestions for MSME companies.

Some photos: