CHENNAI: In a bid to raise investments and increase market access opportunities for Tamil Nadu-based startups, MSME minister TM Anbarasan on Thursday announced that the state government will establish a Global Coordination Centre (GCC) in Dubai this year.
The centre will be established with the support of the Tamil diaspora. Reacting to the announcement, StartupTN Mission director and chief executive officer Sivarajah Ramanathan said the move follows extensive steps taken to directly reach out to the Tamil diaspora entrepreneurs, investors and trade bodies in Dubai for investment, market access and research and development partnerships. “They are eager to give back to their homeland and their role will be instrumental in strengthening the Tamil Nadu startup ecosystem,” he said.
The minister also said new regional startup hubs will be established in Cuddalore, Hosur and Salem. This comes after the launch of regional startup hubs in Madurai, Tirunelveli and Erode districts creating a positive impact in spreading awareness of the startup culture and increasing startup activities in the respective regions.
The minister also said a startup manufacturing centre will be established in Guindy, exclusively to provide manufacturing facilities for startups. One of the major misconceptions about startups is that they need just a few seats for a small team to work.
But many new-age enterprises in electric vehicles, the Internet of Things, robotics and a host of other sectors require ample space for production. Investing in land and constructing physical structures for a manufacturing facility to commence operations is an uphill task for startups. The startup manufacturing centre is the first step to bridging the gap, said Sivarajah Ramanathan.
The minister also announced allocation for SC/ST startup funds will be increased from `30 crore to `50 crore in the current year (2023-2024). He said a bilingual call centre will be set up to get information pertaining to startups and entrepreneurship with ease.