Chennai, Sep 5 (IANS) The US based X Development, formerly Google X and 18 other organisations have signed a Memorandum of Understanding (MoU) with Tamil Nadu government committing an investment of about Rs 2,300 crore, said an official release.
The X Development is a subsidiary of Alphabet Inc, the parent company of Google and others. It is a group of inventors and entrepreneurs who build and launch technologies that have a large scale impact.
In a statement issued here, Tamil Nadu government said 19 organisations - Lincoln Electric, Wearable Mems, Caldon Biotech, ZL Technologies, Kapisoft, Kloud Learn, Sierra Health Alerts, Acts Global Tech Solutions, Ripe.io, Latent.ao, Achireum, Nature Mills, SAi, ACS Global Tech Solutions, Dotsolved Systems, Inc, TIE Global, USISPF, Google X and DCF Ventures- signed a MoU with Tamil Nadu government to invest a total of Rs 2,300 crore in the southern state of India.
Tamil Nadu Chief Minister K. Palaniswami is on tour to the US to meet industrialists, entrepreneurs and others to attract investments.
Palaniswami also inaugurated the Digital Accelerator scheme to be implemented with the American Tamil Entrepreneurs Association (ATEA).
Under the Ditigal Accelerator scheme, entrepreneurs who are investing in Tamil Nadu with the funding assistance of ATEA will be given 10 per cent of their investment by the state government.
A sum of Rs 50 crore has been allocated by the Tamil Nadu government for the scheme.
(This story was auto-published from a syndicated feed. No part of the story has been edited by The Quint.)
(The Quint is available on Telegram. For handpicked stories every day, subscribe to us on Telegram)
We'll get through this! Meanwhile, here's all you need to know about the Coronavirus outbreak to keep yourself safe, informed, and updated.
Liked this story? We'll send you more. Subscribe to The Quint's newsletter and get selected stories delivered to your inbox every day. Click to get started.
The Quint is available on Telegram & WhatsApp too, click to join.