Development Administration in Tamil Nadu Current Affairs Analysis
Vision: To become one of the top 20 global Startup destinations by 2032
Validity: 5 years or Till the nextsuch Policy
Highlights of Bill:
Targets to make Tamilnadu:
Top 3 Startup ecosystems in India
Top State for incubation ecosystems
Top 3 States in terms of investments
Leading State for Startups and companies founded by individuals from SC/ST communities and women
START STEPs (budding entrepreneurs)
An aspiring non-registered entity or individual who develops an idea with a business model based on product / process / service innovation.
Criteria for Startups:
Time Limit: 10 years from the date of incorporation
Turnover Limit: INR 50 crore
The entity should not have been formed by splitting up or reconstructing an already existing business
Implementing Agency: Startup TN (Tamilnadu Startup and Innovation Mission)
Co-Creation Fund:
Purpose: To invest in Private Venture Capital Funds
Fund Amount: Rs.100 Crore
Administered by: Startup TN
Inspired by: Yozma ( initiative) model of Isreal
Social Justice Venture Lab
To promote equity investment for Startups founded and led by entrepreneurs from the Scheduled Caste and Scheduled Tribe communities (SC/ST).