Tamil Nadu Shows Consistent Growth, Passing 10,000 DPIIT-Registered Startups
According to the state government, Tamil Nadu has achieved a noteworthy milestone by registering more than 10,000 startups with the Department for Promotion of Industry and Internal Trade (DPIIT). The increase in registrations demonstrates the expansion of the startup ecosystem in the state, which has advanced significantly in the previous three years.
Quick Increase in the Number of Startups
In Tamil Nadu, there are now over 10,000 DPIIT-registered startups, up from 2,300 in March 2021. The state's startup support agency, StartupTN, has been credited with spearheading programs that have contributed to this quick expansion.
The ecosystem has advanced thanks in large part to StartupTN's numerous initiatives, which include funding support, mentorship opportunities, and incubation facilities. The CEO and Mission Director of StartupTN, Shivaraja Ramanathan, underlined the value of regional centres in the state. With nine regional hubs and one metro centre in Chennai, Tamil Nadu presently offers entrepreneurs the necessary infrastructure.
Emphasis on Assisting Entrepreneurs
To encourage entrepreneurship, especially among young people, the state government has taken proactive measures. StartupTN programs are designed to support young entrepreneurs and give them the tools they need to expand their companies. Ramanathan noted that, with state assistance, the organisation has concentrated on fostering an innovative culture.
About DPIIT
In India, the Department for Promotion of Industry and Internal Trade (DPIIT), a division of the Ministry of Commerce and Industry, is in charge of creating and carrying out developmental and promotional policies to support the expansion of the industrial sector while taking socioeconomic goals and national priorities into consideration. It significantly influences the framework of industrial policy, facilitates corporate transactions, and increases trade and investment in the nation.
DPIIT is responsible for developing and overseeing industrial development policies. To guarantee the successful execution of these programs, it collaborates with state governments and other ministries. By emphasising modernisation, technological advancement, and luring both domestic and foreign investment, the department aims to foster an atmosphere that supports industrial progress.
Startups recognised under DPIIT enjoy a number of advantages, including faster compliance, IPR fast-tracking, and access to several tax perks. The primary goal of the Startup India project is to assist startups in expanding their core businesses while lowering the regulatory load on them through low-cost compliance.
The DPIIT also promotes technical innovation and the defence of intellectual property rights. Government programs can be a strategic advantage for companies aiming to modernise or grow. To finance these projects, entrepreneurs can also look into business loans, since DPIIT-backed firms frequently enjoy easier compliance and easier access to funding, including loans tailored to MSME requirements.
Nitin Konde
