‘Coimbatore emerging as start-up capital’

Awed by some of the ideas that the start-up ventures displayed at the Start-up Expo here, Union Minister of State for Commerce and Industry Nirmala Sitharaman said that she saw “everything going in favour of Coimbatore to be the start-up capital.”

The minister, however, voiced concern about the low women turnout in such ventures. “Only 8 per cent of start-ups are run by women. I do not understand the reason for women have the uncanny ability to notice where the problems exist,” she said and urged the participants, particularly women, to be bold and aggressive.

The session – “Start-Up India – Start-up Expo and Conference” was organised by the Young Indians, Coimbatore Chapter in association with the Indian Chamber of Commerce and Industry, Coimbatore and the Confederation of Indian Industry at the Codissia Trade Fair Complex.

Women delegates outnumbered men in the jam-packed hall.

Reiterating that there is no dearth of funds, she said “the government, I am sure, will be lot more flexible in dealing with issues raised by start-ups and we are not just looking at tech-based or application-based start-ups; put your energy on pure science related matters, health, space, defence etc. You have everything; with a bit more energy and push from several quarters, you can create and sustain an ecosystem that can support talented youngsters. Tamil Nadu will benefit from it and we are with you in whatever you want to do,” Sitharaman said. Industrial hub

Stating that Tamil Nadu has always remained an industrialised state largely due to the contribution of Coimbatore as an enterprising industrial hub, she said “this is despite the centrally run socialist era over the last 60 years. While enterprise existed, it could not flourish”.

“The country’s economy survived because of small savings and this is purely because of private enterprise,” she asserted, before pointing out that the Modi government ushered in a change in the mindset of the people and loosened the knots.

She also admitted that the ecosystem for start-ups was already there and the present government launched this start-up initiative only to give it a greater push.