Will Tamil Nadu Create an SPV to Manage Co-Working Spaces and Job Placement Services?

Chennai, Aug 12 (NationPress) The Tamil Nadu government is set to create a Special Purpose Vehicle (SPV) to manage the network of co-working spaces envisioned under the Chief Minister’s initiative, guaranteeing seamless operations irrespective of governmental or bureaucratic shifts.

The SPV will operate as a private entity with its own CEO, funded directly by the state and endowed with executive authorities.

This resolution was reached during a meeting that included the Chennai Metropolitan Development Authority (CMDA), the special projects department, and the urban development department.

Officials indicated that the chief minister stressed the importance of all 30 proposed co-working centres operating consistently, unaffected by administrative fluctuations.

At present, the only functioning co-working centre in Kolathur is co-managed by the CMDA and the Greater Chennai Corporation (GCC).

“This arrangement is not sustainable long-term, as changes in officials may lead to coordination and funding challenges. The new SPV will be modeled after organizations such as Chennai Metro Rail Limited (CMRL), the Chennai Unified Metropolitan Transport Authority (CUMTA), and the Smart City Mission,” an official mentioned.

In addition to overseeing the centres, the SPV will launch a recruitment facilitation program.

CMDA member-secretary G. Prakash stated that recruitment agencies, including top firms, will be invited to operate on-site or remotely from the co-working hubs to connect employers with job seekers.

“Agencies will conduct interviews and assess profiles while also promoting the co-working spaces as reliable job placement platforms. This system is expected to be implemented within a few months following the establishment of the SPV,” he added.

A dedicated online portal will feature job listings, recruitment camp information, and other relevant details. Professionals utilizing the centres can voluntarily submit their work profiles to be included in the recruitment network.

“The Kolathur centre sees approximately 100 visitors daily. We anticipate that numbers will surge significantly once all 29 additional centres are operational. The placement service will be complimentary, with the SPV serving as a facilitator between companies, startups, and job seekers,” Prakash concluded.

The government is confident that the SPV model will guarantee financial viability, effective management, and reliable service delivery at the co-working spaces, while also converting them into hubs for employment creation and skill advancement throughout Chennai.