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The new start-up policy of Tamil Nadu, to be announced soon, will focus on grooming an entrepreneur and dealing with major issues during the early stage of entrepreneurship, said Dharmendra Pratap Yadav, State Secretary for Micro, Small and Medium Enterprises.
“In the start-up policy, we will first talk about start steps and then about start-up. Start steps are about grooming a person to become an entrepreneur,” he said.
Awareness creation
Tamil Nadu ranks No.2 in terms of the number of start-ups being registered. There is a good ecosystem in the State with facilities such as IIT-Research Park. However, there is lack of awareness among youngsters on various facilities and incentives available to become entrepreneurs,
Creating awareness among ‘potential’ entrepreneurs and college students is one of the major focus areas in the start-up policy, Yadav said at a CII Startup Conclave ‘Startups – The next wave of Indian Economy’.
The plan is to reach out to the maximum number of educational institutions, including engineering, arts and science, and expose students to the vistas of entrepreneurship and opportunities available to become entrepreneurs.
The policy also talks about establishing incubation centres, providing support for co-working spaces, capital seed grant, venture capital fund, close association with educational and research institutes.
The draft start-up policy is under circulation among various stakeholders, including industry and academia. On getting their feedback, the policy will be submitted to the State Cabinet for approval. “I cannot give a timeframe. It could be announced in a month or two months,” Yadav later told BusinessLine .
Incentives
There are many incentives available for a person to become an entrepreneur.
For instance, credit guarantee funds of up to ₹2 crore loan is available wherein there is no need to mortgage any property. Providing support to first generation is nothing new for Tamil Nadu. The Anna Marumalarchi Scheme support first generation entrepreneurs, Yadav said at the conclave.
The State government has supported 10 incubators in various educational institutions by providing ₹10 crore each. The Centre is also providing support for incubation centres. The Entrepreneurship Development Institute has reached out over 400 educational institutions across the State where entrepreneurship development cells have been created.
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