Following the ascent of the DMK into power, an extraordinary transformation took hold within the realm of Tamil Nadu’s startup ecosystem. Chief Minister M K Stalin unveiled a remarkable revelation on Saturday, underscoring how the number of registered startups experienced an astonishing threefold increase within a mere span of two years.
“Tamil Nadu should become a leading state in the country in every field including Startups. The government has launched several programs to support the Startup ecosystem,” the Chief Minister said addressing the “Tamil Nadu Startup Thiruvizha 2023” at the CODISSIA trade fair complex, Coimbatore, virtually from here.
The figures themselves painted a vivid picture: from a modest count of 2,300 startups in March 2021, the landscape had been invigorated to the extent of accommodating a staggering 6,800 registered startups by the year 2023. Stalin said the state has established a seed fund known as TANSEED (Tamil Nadu Startup Seed Grant) with up to a grant of Rs 10 lakh for each startup, and so far orders sanctioning disbursement of Rs 10 crore to about 109 startups have been issued.
To take growth beyond big cities, the government established regional startup hubs in Madurai, Erode, and Tirunelveli in the 2022-23 financial year. Reflecting upon this strategy, Chief Minister M K Stalin revealed that ongoing endeavors are underway to establish similar regional startup hubs in Salem, Hosur, Cuddalore, and Thanjavur, further amplifying the reach of the state’s entrepreneurial ecosystem.
In alignment with the state’s commitment to ensure equitable progress, an important initiative was set in motion. The state announced a special grant of Rs 30 crore last year to encourage SC/ST members to launch their own startups. Chief Minister Stalin, while addressing these developments, reaffirmed the government’s unwavering dedication to fostering inclusive growth and amplifying opportunities for every stratum of society.
“The growth in the sector in the last two years stands as testimony to Minister TM Anbarasan’s hard work. The development of small and micro enterprises is as important as the development of industrial enterprises for investment from multinational companies. The Dravidian model government is concerned about overall industrial growth. Former Chief Minister Karunanidhi improved the industrial structure and infrastructure in Tamil Nadu. Anbarasan requested me to organize a grand startup festival during Kalaignar’s centenary celebration. I insisted that he organize it in Coimbatore as it is the Manchester of South India,” the CM added.
Spanning two days, this grand event is orchestrated under the auspices of StartupTN, the prominent state nodal agency dedicated to fostering startup innovation. About 450 exhibition stalls have been set up and the event is expected to attract over 10,000 visitors. In a remarkable convergence of leadership, Minister for MSMEs TM Anbarasan, Industries Minister TRB Rajaa, MSME Department Secretary Arun Roy, Coimbatore Collector Kranthi Kumar Pati, Coimbatore Mayor Kalpana Anandakumar, and Commissioner M Prathap came together to actively partake in this significant gathering.