Tamil Nadu has come up with ambitious plans for the state’s startup ecosystem. It is set to launch a state-of-the-art incubator that will focus at deeptech startups. Sivarajah Ramanathan, Mission Director of Startup TN, announced lately saying the initiative is part of a broader strategy to strengthen innovation and entrepreneurship in the state.
Startup TN was formed in 2021 and since then has played an important role in transforming the startup landscape in the state. Nearly four-fold increase has been witnessed in the number of startups. The current count is 8,952 startups. The goal is to reach at least 15,000 by 2028.
Tamil Nadu currently is equipped with 124 incubation centers. Ramanathan revealed that only 20% are making a significant impact. Hence, a new approach is needed to reduce the gap. The proposed mega incubator is basically designed to provide support in design, marketing and sales. The incubator will focus on developing fundamentally strong companies with sustainable growth potential.
The commitment of Tamil Nadu government to inclusivity is noteworthy. The Startup TN initiative is equipped with provisions for funding as well as support targeted at SC/ST entrepreneurs, women-led startups and marginalized communities. Transgender and differently-abled individuals are included in the marginalized communities. Moreover, Tamil Nadu is simultaneously strengthening regional entrepreneurship. It is building startup hubs in cities like Madurai, Tirunelveli and Salem for the purpose. It is supporting campus-based startups too.
Tamil Nadu is looking ahead to position itself as one of the top 20 global startup ecosystems in the period of next one decade or so. The state has planned for a high-budget global startup meet for Chennai in 2025 to showcase its progress and attract international attention. The event is learned to feature international pavilions and highlight the best practices in startup ecosystems, accelerators, investors as well as incubators from around the world.
