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Tansim, the main agency for startups in Tamil Nadu, is creating a fresh startup policy to support the state’s expanding investor ecosystem.

“A year ago, Tansim was founded. Within the next four years, we want to establish 10,000 new startups. This is our midterm objective,” Ramanathan stated.

The agency will work to connect the 80 development centers that are actually operating in Tamil Nadu with investors and markets. This will look at how many companies there are in each district, their funding information, and the sectors they are a part of. It will also create a startup database and create a mentor network.

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“We will promote college entrepreneurship networks. Moreover, we promise that more players receive investment outside of urban centers like Chennai and Coimbatore,” he added.

Regional Startup Hubs would be established in Erode, Madurai, and Tirunelveli, as according to plans announced by Finance Minister Palanivel Thiaga Rajan in the passed today budget, to ensure the expansion of the startup ecosystem throughout the state.

Image Source: eGov Magazine.

Additionally, a corpus of Rs 30 crore was announced for Tansim to support SC and ST entrepreneurs’ start-up businesses. The minister also awarded the Emerging Sector Seeds Fund with Rs 50 crore to invest in startups based in Tamil Nadu.

Furthermore, the state intends to spend Rs 75 crore to develop a startup center in Chennai through Tamil Nadu Industrial.

By encouraging an entrepreneurial mindset and fostering ideas, investments, and fundraising, Ramanathan added, “We hope to be one of the top three states in terms of the start-up ecosystem.

The state government is placing emphasis on agricultural technology start-ups and long-term climate-focused companies with the objective of having distributed growth.

According to the current strategy, Tansim expects that at least 5–10% of the enterprises will receive funding in the coming future, which also will help to improve the state’s job situation.

Liton Paul

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