In recent decades, we've witnessed a surge in technological enterprises propelled by innovative ideas. We now live in an era defined by disruptive innovation, where ideas reshape the way the world is functioning. Many ideas, once met with skepticism, have now become integral to our daily lives.
Nurturing an environment that values and nurtures innovation is essential for the prosperity of startups. The Tamil Nadu Startup and Innovation Mission, known as StartupTN, is proactively establishing an ecosystem aiming to empower entrepreneurs and enrich society collectively.
StartupTN was revitalised under the current government, which allocated funds and put together top talent to pursue its mission of creating an environment conducive to innovation and Startups. Operating under the Micro, Small, and Medium Enterprises Department, StartupTN is guided by the state government's principles of social justice and inclusive growth.
The Tamil Nadu Startup and Innovation Policy 2023 sets ambitious targets, aiming to nurture 15,000 startups and propel the state into the top 20 startup hubs globally by 2032. Through StartupTN, the government of Tamil Nadu is dedicated to providing tailored policies and support. The policy was drafted based on seven major determinants required for a thriving startup ecosystem. They are Innovation Landscape, Access to Market, Stakeholder Engagement, Startup Support Centres, Investment Ecosystem and Equitable Growth.
Within just two years of StartupTN's revival, Tamil Nadu has achieved the status of 'Best Performer' in the Union government's Startup India ranking, a remarkable feat considering it was ranked at the bottom just four years prior. The number of Department for Promotion of Industry and Internal Trade (DPIIT) registered startups in the state has more than tripled from 2300 in March 2021 to 8000 DPIIT registered Startups (as per 28 Feb, 2024).
This story is from the March 05, 2024 edition of Outlook.
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This story is from the March 05, 2024 edition of Outlook.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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