Chief Minister M K Stalin announced that the number of registered startups in Tamil Nadu has tripled in just two years since the DMK government assumed power. The increase in registered startups went from 2,300 in March 2021 to an impressive 6,800 in 2023. This growth can be attributed to the various initiatives implemented by the government to support and enhance the startup ecosystem in the state.

Stalin highlighted the government’s commitment to positioning Tamil Nadu as a leading state in every field, including startups. To facilitate this, the state has established a seed fund called TANSEED (Tamil Nadu Startup Seed Grant) that offers grants of up to Rs 10 lakh to each startup. The government has already approved disbursement orders worth Rs 10 crore to support 109 startups.

In an effort to foster growth beyond major cities, the government has set up regional startup hubs in Madurai, Erode, and Tirunelveli in the previous financial year. Stalin further mentioned that plans are underway to establish additional regional startup hubs in Salem, Hosur, Cuddalore, and Thanjavur. To ensure social justice and inclusion, Tamil Nadu announced a special grant of Rs 30 crore last year to encourage SC/ST members to launch their own startups. This year, the grant has been increased to Rs 50 crore, reflecting the positive response to the initiative.

The Chief Minister also credited Minister TM Anbarasan for his dedicated efforts. He emphasized the importance of small and micro enterprises in attracting investments from multinational corporations, in addition to industrial development. Further acknowledging the legacy of former Chief Minister Karunanidhi, Stalin expressed his support for Anbarasan’s proposal to organize a grand startup festival in Coimbatore, known as the “Manchester of South India.”

The two-day Tamil Nadu Startup Thiruvizha 2023, organized by StartupTN, the state nodal agency for startups and innovation, is expected to attract over 10,000 visitors. With 450 exhibition stalls showcasing the vibrant startup ecosystem in Tamil Nadu, the event will serve as a platform for networking and collaboration among entrepreneurs and industry leaders.