But we’re not able to find more than 700: Minister
Minister for Tamil Culture and Archaeology Ma Foi K. Pandia Rajan said that the State was keen on identifying more entrepreneurs who would benefit under the NEEDS scheme. “We are chasing to achieve helping 1,000 entrepreneurs but we are not able to identify more than 700,” he said.
The Minister was addressing a seminar on Disruption Through HR (Human Resource) Apps – Challenges and Opportunities for Business organised by The Southern India Chamber of Commerce and Industry (SICCI).
Hotspot for innovation
Mr. Pandia Rajan said said Chennai had been the hotspot for innovation including design thinking. “We were the leaders in Design Thinking done by Polaris,” he said.
Rafeeque Ahmed, President, SICCI, said that in today’s era HR technology plays a critical role. He also said that Private Equity (PE) and Venture Capital (VC) were investing heavily in this segment.
The Minister along with Mohan Narayan, head, SICCI HR Committee, released a study on Disruption Through HR Apps – Challenges and Opportunities for Business. According to the study, globally, the market for HR technology was estimated to be $400 billion, based on data from Deloitte.
It was estimated that companies spent $2,000 per employee per year on HR technology. The study further pointed out that India’s HR tech market was set to double in the next four years, as per PC Quest. While the size estimated of the Indian HR technology market varied, it was said to be $500 million.