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Speaking at the Tamil Nadu Startups and Incubators meet in Chennai on Tuesday, Chief Minister MK Stalin announced the release of a new Startup and Innovation policy soon to encourage new startups, targeting the socio-economic development of the state.

Stalin said the process would ensure the involvement of new entrepreneurs and youth in the economic mainstream and also work towards achieving the $1 trillion economy.

Since his government came to power, six investor conclaves were organized with an investment commitment of 2.20 lakh crore. It's his dream to make Tamil Nadu the numero uno of investment destination in South Asia. 

Development has been planned to ensure adequate representation of regions and districts in the State, Stalin said.

"The Dravidian model of governance aims at striving with the noble aim of making everything available to all," he said.

In 2019 the then AIADMK government had launched the Startup and Innovation Policy for enabling the ecosystem for startups and making the State a global hub in the sector.

Tamil Nadu is working towards establishing 10,000 new startups in the next four years, and to elevate the existing startups marching toward the State’s goal of inclusive mass entrepreneurship for socio-economic development.

The Chief Minister launched three Startup Tamil Nadu Regional Hubs at Madurai, Tirunelveli, and Erode and also 5 accelerator programs in Industry 4.0 besides the i-TNT Hub in Anna University here coming up for 54.6 crore.

The i-TNT Hub is India's first emerging and DeepTech Innovation Network coming up on about 25,000 sq ft area. It will function as an accelerator-cum-incubator for startups working in DeepTechnologies.

Startup TN Accelerator is designed to propel growth stage startups with a minimum viable product to the next stage through rigorous upskilling, mentoring, and access to the right resources.

Under the third edition of the flagship Tamil Nadu Startup Seed Grant Fund (TANSEED), Stalin disbursed the first tranche of 1.55 crore providing 5 lakh each to 31 startup beneficiaries who included 18 women founders or co-founders, on the occasion.

With inputs from PTI

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