Startup provides employment to 26,327 people in Tamil Nadu in the last three years, the State Union Minister for Trade and Industry SOM Prakash said.
The response to the query of the Vaiko MDMK leader about the volume of work produced from the center, Prakash told Rajya Sabha on July 23 that as many as 2,408 startups in Tamil Nadu have been recognized by the Indian Startup initiative from the Industry and Internal Trade Department (DPIIT) in the last three years.
“On July 7, 2021, work.
26,327 people have been reported by the Startup recognized by DPIIT in Tamil Nadu in the last three years,” he said.
Like 8,628 jobs provided by startup in 2020.
Apart from the pandemic and locking, the number of startups recognized by the DPIIT and the work they produced showed an increase compared to previous years.
Starting Indian initiatives launched by the center in 2016 which aims to build a strong ecosystem to maintain to maintain.
Innovation and startup that will produce generations of employment and sustainable economic growth.
The minister said that ‘funds for Startup’ (FFS) was founded by DPIIT in 2016 with the Corpus Rs 10,000 Crore to provide encouragement to the startup ecosystem.
In addition to financial assistance, the Startup recognized by DPIIT is given benefits such as the exemption of income tax for three years, self-certification of labor legal compliance and environmental and fast tracking of patent applications.
The Minister also said that DPIIT has created the Indian Benih Startup (SISFS) fund scheme with RS 945 Crore expenditure to provide financial assistance to startup for the development of prototypes, product trials, entry and commercialization.
This will allow startup to pass to a level where they will be able to collect investment from angel investors or venture capitalists or seek loans from commercial banks or financial institutions, he said.
“This scheme will support around 3,600 entrepreneurs through 300 incubators in the next 4 years,” he said.
The Tamil Nadu government, in its part, has provided support to startup through the Tamil Nadu Startup and Innovation Mission (Tansim).
In the latest initiative, the state government has decided to approve preferences during government procurement to startups.