In a momentous event at the IIT Madras Research Park (IITMRP), Chennai, on November 24, 2023, Thiru. T. M. Anbarasan, the Hon’ble Minister for Micro, Small, and Medium Enterprises, inaugurated Startup Thamizha Official. This initiative, spearheaded by #StartupTN, aims to cultivate and support the thriving startup ecosystem in Tamil Nadu. Pontaq, a prominent funding company, has pledged ₹25 Crore as part of the funding commitment for the project.
Funding Dynamics
Startup Thamizha Official has garnered significant attention, with a total funding commitment of ₹200 Crore over its first three seasons. Pontaq’s substantial investment of ₹25 Crore reinforces its commitment to nurturing innovation and entrepreneurship in the region.
Other notable investments include ₹100 Crore from Refex Group, ₹50 Crore from Dr. Velumani Arokiaswamy of Thyrocare, ₹10 Crore from NATIVELEAD Angels, and an additional ₹15 Crore from various other investors. This robust financial backing ensures that the initiative has the resources to propel promising startups towards success.
Showcasing Tamil Nadu’s Entrepreneurial Talent
Startup Thamizha Official will take center stage on a premier TV channel, providing a platform for 50 finalists each season to pitch their ideas. These finalists will be carefully selected by a distinguished jury comprising renowned entrepreneurs and angel investors. The show’s first season is scheduled to begin production by February 2024, with a popular Tamil TV channel slated to broadcast it.
The production and management responsibilities for Startup Thamizha Official lie in capable hands, with Brand Avatar & Avatar Live Youtube Channel, Blue Koi, and Refex Group taking charge. This collaboration ensures a high-quality production that effectively showcases the potential of Tamil Nadu’s startup ecosystem.
Key Addresses and Visionary Insights
The launch event featured notable addresses from key figures, including Thiru. Tmt. Archana Patnaik, I.A.S., Secretary to Government, MSME Department, and a compelling keynote address by Dr. Velumani Arokiaswamy, the Founder of Thyrocare. Mr. Suresh Sambandam, Founder and CEO of Kissflow, provided valuable insights into Tamil Nadu’s ambitious vision of achieving a USD 1 Trillion economy.
Distinguished personalities such as Mr. Hemachandran L., Founder & CEO of Brand Avatar, Mr. Balachandar R., Founder of Blue Koi, and Mr. Dinesh Agarwal, Group CEO of Refex Group, were also present at the event. Their participation underscores the collective commitment of industry leaders, entrepreneurs, and investors toward fostering innovation and economic growth in the region.
Conclusion
The infusion of ₹25 Crore by Pontaq into Startup Thamizha Official is a testament to the immense potential and opportunities present in Tamil Nadu’s startup landscape. This initiative, supported by a diverse group of investors and industry leaders, is poised to play a pivotal role in nurturing and showcasing the entrepreneurial spirit of the state. As Startup Thamizha Official prepares to bring forth the next wave of innovators, the funding commitment from Pontaq solidifies its position as a catalyst for Tamil Nadu’s startup success story.
