Deputy Chief Minister launches initiatives to support start-up ecosystem in T.N.

Tamil Nadu Deputy Chief Minister emphasizes importance of SMEs and start-ups in achieving $1 trillion economy, unveils initiatives for growth.

For Tamil Nadu to achieve its $1 trillion economy, the contributions of small and medium enterprises (SMEs) and start-ups are just as crucial as those of large corporations, Deputy Chief Minister Udhayanidhi Stalin said here on Tuesday. He added that start-ups should be created in all districts of Tamil Nadu by all sections of people.

Addressing entrepreneurs at an event organised by the Tamil Nadu Startup and Innovation Mission (StartupTN), he said: “With the aim of providing global exposure and connection to start-up companies operating in our State, the Tamil Nadu government established the Global Startup Coordination Centre in Dubai. Similar centers will soon be established in Singapore and the United States.”

Mr. Udhayanidhi added, “The Tamil Nadu government is enabling companies to access international business markets to participate in business exhibitions. The government sponsored 19 start-up companies from Tamil Nadu to take part in the prestigious GITEX event held in Dubai recently. Likewise, 18 start-up companies will attend the grand start-up event, which is to be held in Finland.”

He also inaugurated a slew of initiatives that would help the start-up ecosystem in the State. The first was the Periyar Social Justice Venture Lab, which will provide dedicated advisory, coaching, and acceleration programme for social enterprises, climate action initiatives, and SC/ST start-up founders at both pre-investment and post-investment stages. The second was Thozhil Nayam, a design studio that aims to empower direct-to-consumer (D2C) start-ups in the State by having successful listings on e-commerce platforms.

Mr. Udhayanidhi also presented sanction letters for pre-incubation centres (PICs), which aim to support innovative business ideas in their initial stages. StartupTN plans to establish PICs throughout the State, especially in Tier II and Tier III cities, where incubation centres are yet to flourish. These will support innovative ideas from the student community and aid them in developing proof of concepts and prototypes.

MSME Minister T.M. Anbarasan and Sivarajah Ramanathan, CEO, StartupTN were present.