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38 startups founded by SC/ST youth get funding from Tamil Nadu government

According to an official release from the TN government, the startups have received a shared investment of around Rs 55.20 crore in the past two financial years.

38 startups founded by SC/ST youth get funding from Tamil Nadu government

Tuesday June 11, 2024 , 2 min Read

Startups founded by entrepreneurs belonging to the SC/ST communities have benefitted from the state government’s special fund, according to an official release by the Tamil Nadu government.

According to the release, the government has allocated Rs 80 crore to promote startups founded by entrepreneurs from the SC/ST communities, and 38 startups founded by SC/ST (scheduled caste/schedule tribe) youth have received a shared investment of around Rs 55.20 crore in the past two financial years.

The Tamil Nadu Scheduled Caste/Scheduled Tribe Startup Fund was introduced in 2022-23. Entrepreneurs from Chennai, Salem, Kanniyakumari, Madurai, Tiruchy, Coimbatore, Erode, and Nilgiris have benefitted from the scheme.

As many as 6,384 startups have been established in the state since the Dravida Munnetra Kazhagam (DMK) assumed office in Tamil Nadu in 2021, said the release. There were 2,032 startups in the state before 2021, and it has gone up to 8,416. The number of women-led startups has risen from 966 in 2021 to 3,163 in 2024, the release added.

Startups have come up in the fields of agricultural engineering, artificial intelligence (AI), and value addition to food items.

The state government attributes this growth to the various steps undertaken by it to encourage entrepreneurship and innovation.

The revamped Tamil Nadu Startup and Innovation Policy was launched in September last year by the chief minister of the state, MK Stalin. The vision is for Tamil Nadu to become one of the top 20 global startup destinations by 2032.


Edited by Megha Reddy