CHENNAI: In order to make the start-up ecosystem “globally competitive”, Chennai will host the Global Start-up Summit in January 2025. The summit will bring together leading start-ups and accomplished young entrepreneurs from across the world, announced Minister for Finance Thangam Thennarasu on Monday.
Tabling the state budget for financial year 2024-25, the minister further said that Tamil Nadu has been recognised as a frontrunner in the country in creating a conducive ecosystem for start-ups owing to the government’s “dedicated efforts” over the past three years.
On Global Start-up Summit, Sivarajah Ramanathan, mission director & CEO, StartupTN, said that the plan was in the early stages.
Similarly, to identify and support entrepreneurs capable of addressing diverse social development challenges, climate change needs, and improving public services, the Periyar Social Justice Venture Lab will be established. The centre will focus on start-ups founded and led by individuals hailing from the marginalised sections.
Further, a state-of-the-art Industrial Innovation Centre covering an area of 26,500 sq ft will be established in Madurai with an outlay of Rs 24 crore.
Aiming to offer a collaborative workspace for innovators and start-ups, the centre will host Industry 4.0 equipment and facilities for product development, prototyping and training.
The finance minister also said that three new industrial estates dedicated to micro, small and medium enterprises (MSMEs) will be established in Oddanchatram taluk of Dindigul district, Manamadurai taluk of Sivaganga district and Tiruthuraipoondi taluk of Tiruvarur district.
The industrial estates will be developed by the Tamil Nadu Small Industries Development Corporation (TANSIDCO) over 80 acres with an outlay of Rs 32 crore.
Similarly, a three-storeyed industrial complex spread over five acres of land will be developed at Sakkimangalam Industrial Estate in Madurai district by TANSIDCO with an outlay of Rs 118 crore.
The initiative will support MSME entrepreneurs and is expected to create employment opportunities for 4,500 individuals.
Periyar Social Justice Venture Lab soon
To identify and support entrepreneurs capable of addressing diverse social development challenges, climate change needs, and improving public services, the Periyar Social Justice Venture Lab will be established.
The centre will focus on start-ups founded and led by individuals hailing from the marginalised sections, the finance minister said.