Startups in TN tripled in 2 years after DMK came to power: CM Stalin

Owing to the numerous initiatives taken by the state government to bolster their growth, startups in Tamil Nadu tripled in two years after the DMK came to power, Chief Minister MK Stalin said on Saturday (August 19).

As of March 2021, there were 2,300 registered startups in the state. Due to the consistent efforts taken after coming to power, their number almost tripled over two years, rising to 6,800, he said. “Tamil Nadu should become a leading state in the country in every field including startups. The government has launched several programmes to support the startup ecosystem,” the Chief Minister said while addressing the “Tamil Nadu Startup Thiruvizha 2023” at the CODISSIA trade fair complex, Coimbatore, virtually from Chennai.

The two-day mega event is being held under the aegis of StartupTN, the state nodal agency for startup and innovation. About 450 exhibition stalls have been set up at the venue and the event is expected to attract over 10,000 visitors.

Speaking about the government’s role in fostering growth, Stalin said the state government established a seed fund known as TANSEED (Tamil Nadu Startup Seed Grant) with up to a grant of Rs 10 lakh to each startup. So far, orders sanctioning the disbursement of Rs 10 crore as TANSEED to about 109 startups have been issued, he added.

Envisaging their growth beyond big cities, the government established regional startup hubs in Madurai, Erode, and Tirunelveli in the 2022–23 financial year. “Currently, efforts are on to establish regional startup hubs in Salem, Hosur, Cuddalore, and Thanjavur,” the chief minister said.

Further, in a move to ensure social justice, the state government allotted a special grant of Rs 30 crore last year to encourage the SC and ST members to start their own startups. “Following a good response to this programme, this startup fund has been enhanced to Rs 50 crore this year,” he said.