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TANSIM Chief Executive Officer Sivarajah Ramanathan said that IT is the Tamil Nadu Startup and Innovation Mission is planning to support the creation of at least 10,000 startups in the state by 2026

 It is the nodal agency for startups in the state and is working on a new startup policy to boost the new investor ecosystem in the state.

 “We formed Tansim in the past year. Our vision is to create 10,000 new startups in the upcoming four years. This is our mid-term vision of government,” said Mr. Ramanathan.

 This agency will be focusing on the existing 80 incubation centers in Tamil Nadu and taking steps to connect them with markets and investors. It will also create a mentor network as well as form a startup database. The agency will look into the management of startups in each district and their funding details also the sectors in which they are part.

 “Our Teams are promoting startup networks in colleges. And we will ensure that more players get funding outside cities like Chennai and Coimbatore,” he added.

Budget Allocations For Tansim

 In the recently concluded Budget, Finance Minister Mr. Palanivel  Rajan announced the plan to set up new regional Startup Hubs in Erode, Madurai, and Tirunelveli to ensure the growth of the startup ecosystem across the state.

 In addition to this, a fund of Rs 30 crore was announced for Tansim to give startups a boost by ST and SC entrepreneurs. The ministry also allotted Rs 50 crore to the Emerging Sector Seed Fund to make equity investments in State based startups.

 The state is planning to set up a startup hub in Chennai for Rs 75 crore with the help of the Tamil Nadu Industrial Development Corporation (TIDCO).

 “We aim to be among the top four states in terms of new start-ups. It will happen through new ideas, investments, and developing an entrepreneurial mindset in youth,” Ramanathan added.

  The state government is giving thrust on agricultural technology start-ups and climate-focused players in the long run with the idea of having distributed growth.

 According to the current plan, Tansim expects at least around 5-10 percent of companies to get funding in the upcoming days, which will also boost the job scenario in the state.

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