Startup Eco-system in Tamil Nadu

13. Startup Eco-system in Tamil Nadu Top 10 Rising Startups In Chennai 2022

Tamil Nadu has always been at the forefront of the country’s economic development. In DPIIT’s (the Department for Promotion of Industry and Internal Trade), 2018 Startup Ranking, Tamil Nadu was identified as a rising state. Several enabling networks and investors have established bases in the state to aid in the development of the startup ecosystem.

The Entrepreneurship Development Institute of India (EDII) is the state government’s nodal organization for startup policy, and it’s working on a number of pilot projects to better understand the state’s ecosystem trends. The state’s growth story has been distinguished by entrepreneurship, social mobility, economic growth, and technological innovation.

The Government of Tamil Nadu launched its startup policy in 2018 to further tap into the existing potential. The policy’s goal is to establish Tamil Nadu as a global innovation hub and the preferred startup destination. The policy is in effect for five years, from 2018 to 2023. Tamil Nadu is an industrialized and urbanized state that benefited early on from the IT and automobile booms.

Key focus

  • The policy framed in 2018 aims at 5,000 tech startups in the state with direct support to 10 high growth startups involved in developing innovative products or services.
  • Increase the supporting infrastructure & strengthen the following sectors: Transportation & Logistics, Electricals & Electronics, Healthcare & Biotechnology, Agriculture, Renewable energy, Climate Change, Fintech, Textile, IT, IoT, AI, ML, SaaS.
  • Reduce tax burden & regulatory pressure. Incentivize startups, facilitators, mentors and investors.

Top sectors in Tamil Nadu

In reality, the state is home to 17 percent of the country’s industries, with Chennai accounting for 60% of the country’s automotive exports, making it India’s largest automobile cluster. Because of successful entrepreneurs like Sridhar Vembu, Girish Mathrubootham, Suresh Sambandam, Vinod Muthukrishnan, and Krish Subramanian, Chennai is considered the SaaS capital of the Indian startup environment. However, in the Tamil Nadu startup ecosystem, there are a number of logistics, agritech, and deeptech businesses that have made their mark.

Startups in Tamil Nadu

Few leading startups in Tamil Nadu are as follows:

  • BankBazar

It is a fintech marketplace set up in 2008 by Adhil Shetty, Arjun Shetty and Rati Shetty. The company hosts various financial products from the public sector, private banks, MBFCs and insurance companies in India.

  • Orangescape

It is a SaaS-based enterprise-level workflow and business process automation platform founded by Sambandam in 2003.

  • WayCool

It is an omnichannel fresh produce distributor. The company is founded in 2015 by Karthik Jayaraman and Sanjay Dasari. It supplies local shops and modern retail outlets with farm-fresh fruits, vegetables, and other products. Every day, the company promises to distribute 250 tonnes of produce, commodities, and dairy goods to over 8K customers through its distribution channels.

  • FR8

It is a technology-driven logistics service provider. It is founded in 2016 by Vasanth Immanuel and Jayendran Panneerselvam.

  • Jesper Apps Software Services

Pushpajayabalan Arockiam is the CEO of the company. It is an experienced ERP solution provider that serves Oracle Value Chain Planning, Oracle Process Manufacturing, and Oracle Supply, chain solutions.

  • Northern Arc

It provides financial services. The company is founded in 2008 by Kshama Fernandes.

  • Agnikul

It is set up in 2017 by Moin SPM, Satyanarayanan Chakravarthy, Srinath Ravichandran. Agnikul is a space technology firm that develops, manufactures, tests, and launches orbital-class rockets for micro and nano satellites.

 Conclusion

The present article gives an overall idea about the startups ecosystem in Tamil Nadu. The investment activity in Chennai’s startup ecosystem is declining at a quicker rate than in the other top centers in the Indian startup ecosystem.

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