- Tamil Nadu is to be a leading global startup destination
- CM MK Stalin unveiled a blueprint to drive startups through innovation, inclusivity, and international cooperation
- Industrial and startup development is a central element of the state's economic strategy
Tamil Nadu Chief Minister MK Stalin on Thursday (October 9) announced that the state would become one of the world's leading startup destinations soon, announcing a roadmap to develop the ecosystem by means of innovation, inclusion, and global connectivity.
Launching the first day's first session of Global Startup Summit 2025 in Coimbatore, Stalin emphasized that the development of industry and startups is the central theme of the economic vision of the Dravidian model state government, with the aim of emerging as a $1 trillion economy by 2030.
Stalin wrote, "When industries develop, the whole state develops. With the jobs they provide, families prosper — in that sense, industries are symbols of progress." He further explained that Tamil Nadu's peaceful atmosphere and sound system of law and order invite investors and entrepreneurs.
Emphasizing the progress of the state as a startup hub, Stalin informed that the registrations of startups on the Union government's platform have gone up six times from 2,032 to over 12,000 over the last four years, with about half of them headed by women entrepreneurs.
Concerning acknowledgement and measures of progress, he indicated that Tamil Nadu has made tremendous strides in building a thriving startup ecosystem, moving upward from the lowest ranking in 2018 to No. 1 in the startup infrastructure ranking in 2022.
Chennai is now ranked 18th city in Asia as per the 2024 Global Startup Ecosystem report by Startup Genome.
Additionally, Tamil Nadu is recognized by the Atal Innovation Mission of the NITI Aayog as a model state for innovation, while also having experienced significant growth in the amount of money raised in funding by startups, on average, from $1 million in 2016 to $6 million in 2024, which shows increasing investor confidence.
Through the TANSEED scheme, Stalin stated that the government is making entrepreneurial opportunities available to women, youth, disabled people, and backward classes.
Women entrepreneurs are getting 50 percent more seed capital, with Rs 20 crore this year and Rs 50 crore is reserved for equity funding in SC/ST entrepreneur-led startups.
The summit, attended by more than 40 nations and 21 national pavilions, is India's inaugural global startup event of this magnitude. More than 15 top corporations such as Nvidia, Meta, HCL, and Decathlon are attending, along with central and state startup missions.
Multiple MoUs were exchanged with Germany, the US, France, Canada, South Korea, and the Philippines to usher in new markets and encourage skill development.
Stalin also released the 'Vision 2035' roadmap and Inc42's Tamil Nadu Startup Ecosystem Report in the event, highlighting strategies and progress in the state's startup development.
Stalin also declared a new Rs 100-crore Co-Creation Fund, handled by the Tamil Nadu Startup and Innovation Mission (StartupTN), to invest in venture capital funds backing Tamil Nadu startups, a step likely to attract foreign investors and bolster homegrown VC firms.
