Tamil Nadu government aims to establish robust startup ecosystem with proposed startup hubs: official
- ByStartupStory | April 10, 2023
The Tamil Nadu government’s announcement of proposed startup hubs would aid in establishing a strong startup ecosystem, according to a senior government official. The funding to set up these startup hubs has been increased from Rs 30 crore to Rs 50 crore, as per Startup TN Mission Director and CEO Sivarajah Ramanathan. The agency, supported by the state government, aims to transform Tamil Nadu into a global innovation hub and the top choice for startups.
The Tamil Nadu Minister for Micro, Small and Medium Enterprises, T M Anbarasan, revealed last week that startup hubs would be established in Salem, Hosur, and Cuddalore. Additionally, the minister announced the creation of a plug-and-play Startup Manufacturing Centre in Chennai and a Global Coordination Centre in Dubai. According to Startup TN Mission Director and CEO Sivarajah Ramanathan, these recent initiatives will enhance the state government’s efforts to build a strong startup ecosystem in Tamil Nadu.
Moreover, the Tamil Nadu SC/ST Startup Fund has been launched to provide equity investments or collateral-free loans to innovative startups founded and run by entrepreneurs from scheduled castes and tribes communities, according to Startup TN Mission Director and CEO Sivarajah Ramanathan. The government had announced the establishment of Regional Startup Hubs in Madurai, Tirunelveli, and Erode in the budget, which had a positive impact on promoting the startup culture and accelerating startup activities in these areas, he added.
The CEO of Startup TN Mission, Sivarajah Ramanathan, stated that the existing hubs conducted around 200 events in 2022-23, which were attended by more than 29,000 individuals, including students, officials, and other potential stakeholders of the startup ecosystem. Discussing the establishment of a Global Coordination Centre (GCC) in Dubai, Ramanathan said that the goal of the GCC was to provide market opportunities to startups through the Tamil diaspora living in various countries.
He added that they had taken significant measures to reach out to Tamil diaspora entrepreneurs, investors, and trade bodies in Dubai for investment, market access, and research and development partnerships. The Global Coordination Centre would be established in Dubai to coordinate and provide necessary resources for startups in Tamil Nadu, he further stated.
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