MOU signed to make Madurai an industrial hub

June 29, 2019 09:19 pm | Updated 09:19 pm IST

The Nativelead Foundation signed a Memorandum of Understanding (MoU) with the Madurai Chapter of Young Indians in Madurai on Saturday.

The Nativelead Foundation signed a Memorandum of Understanding (MoU) with the Madurai Chapter of Young Indians in Madurai on Saturday.

MADURAI

The Nativelead Foundation (NLF) signed a Memorandum of Understanding (MoU) with the Madurai Chapter of Young Indians (Yi) to foster an entrepreneurial environment and requisite guidance for the college students across Madurai, here on Saturday.

Speaking at the annual meeting, Latha Pandiarajan, Chairman NLF, said “the vision of NLF was to create a sustainable business ecosystem by providing information on capacity building for the startups as well as the micro, small and medium enterprises (MSME). The NLF focussed mainly on promoting entrepreneurs from tier-2 and tier-3 cities in Tamil Nadu,” she added.

Highlighting that NLF was making efforts to make Madurai an industrial hub, R. Sivarajah, CEO of NLF, said that the members aimed at making Madurai a $ 2 trillion economy in the next decade.

S. Rajamohan, Chairman of Madurai Chapter of NLF, said that Madurai was lagging behind Coimbatore in terms of industrial growth.

“Entrepreneurs must aim at reducing the huge gap between Madurai and Coimbatore.”

Board members of NLF reiterated that successful entrepreneurs in Chennai must mentor entrepreneurs in their native towns. Businesspersons from across the State shared their experiences on how they had excelled amidst the volatile economy.

Ms. Latha Pandiarajan highlighted that businesses must be critical on the area of deployment of funds.

“Many startups fail despite receiving funds from venture capitalists as they invest in wrong areas,” she said.

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