Tamil Nadu’s entrepreneurial spirit is set to grow significantly, thanks to a series of forward-thinking initiatives introduced by the state government. Recently, the state government launched a special seed fund dedicated to supporting start-ups led by persons with disabilities and transgender people. The initiative was announced by Minister for Micro, Small and Medium Enterprises, TM Anbarasan.
A seed fund of Rs 5 crore will be provided to startups as grants to realise their innovative ideas. The inclusive approach is expected to empower marginalised communities while enriching the entrepreneurial environment. The Tamil Nadu Startup Innovation Mission (StartupTN) will play a key role in identifying and supporting beneficiaries of the scheme.
Tamil Nadu is also investing in expanding its regional startup hubs in Coimbatore and Tiruchi, with investments estimated at Rs 150 crore. The new hubs will join the existing network of hubs in Madurai, Tirunelveli, Erode, Salem, Hosur, Cuddalore and Thanjavur.
The Tamil Nadu government has also announced to set up Global Startup Coordination Centres in Singapore and the US with an investment of Rs 10 crore. The centres will primarily focus on facilitating the international expansion of startups registered in Tamil Nadu, thus providing them with the support and connections they need to reach global markets.
Innovation in product design is being simultaneously boosted with the setting up of Thozhil Nayam design studio at StartupTN’s Chennai office. The studio is backed by an investment of Rs 1 crore and will help startups refine their product designs and increase their market appeal.
The second edition of Tamil Nadu Startup Thiruvizha will be held in Madurai to continue promoting new age entrepreneurship.
