Tamil Nadu is emerging as a vibrant hub for startups, with more than 120 incubators and approximately 5,000 startups based in Chennai alone, according to Srivats Ram, Chairman of the CII Tamil Nadu State Council. Speaking at the Tamil Nadu Startup Summit 2024, organized by the Confederation of Indian Industry (CII), he emphasized, “This thriving startup ecosystem has generated nearly a million jobs in the past year, making Tamil Nadu a key player in driving innovation and employment.”
Sivarajah Ramanathan, Chief Executive of StartupTN, the state’s startup promotion agency, highlighted ongoing efforts to attract more venture capital investments into Tamil Nadu. He noted that initiatives like Tanfund have already secured over ₹80 crore and established partnerships with 200 venture capital firms.
CK Ranganathan, Co-Chairman of the CII National Startup Council, underscored the importance of embracing failure as a stepping stone to success. He stated that “viewing failure as a catalyst for growth rather than a setback” is crucial, adding that supportive policies to mitigate financial risks for startups could significantly boost employment opportunities.
Additionally, the summit showcased how Tamil Nadu is making strides in the startup sector, reinforcing its position as a leading innovation and employment driver in the region.
