Chennai – Tamil Nadu‘s aspiration to emerge as a beacon for startups, akin to Silicon Valley, requires more than just governmental support. This sentiment was echoed by Suresh Sambandam, the CEO of Chennai’s SaaS pioneer, Kissflow, in a recent interaction.
According to Sambandam, while the government’s role is undeniably pivotal, the real powerhouses are the private initiatives and non-governmental endeavors that drive the startup culture. Taking cues from global startup hubs like Silicon Valley and Bangalore, it becomes evident that public support, though substantial, needs to be complemented by private sector dynamism.
The state’s recent shift in focus towards bolstering startups is evident in the Tamil Nadu Startup and Innovation Policy 2023, spearheaded by Chief Minister M.K. Stalin. With over 50 strategic action points, the policy ambitiously positions Tamil Nadu on the global startup map, aiming for a trillion-dollar economy by 2030.
Sambandam lauds the government’s efforts, particularly highlighting schemes such as TANSEED (Tamil Nadu Startup Seed Grant Fund) and grants targeting Scheduled castes and tribes. Such steps, in his view, foster inclusivity and nurture a diverse entrepreneurial environment.
However, he emphasizes that for a thriving ecosystem, startups must be integral to decision-making processes. Citing the success of the SaaSBoomi community, an initiative of over 3000 founders led by India’s top SaaS leaders, he says, “When founders lead, they bring in unparalleled expertise.”
Sambandam’s passion for the state’s growth has been evident since 2018-2019 when he proposed the trillion-dollar economy vision through the Dream Tamil Nadu Foundation (DreamTN). He elaborated, “Under DreamTN’s ‘Kanavu’ program, we’ve conceptualized 275 unique entrepreneurial models for each district in Tamil Nadu, aligning with the state’s economic aspirations.”
But the path isn’t without hurdles. Sambandam observes a knowledge gap within the government concerning brand-building in the startup domain. Another pressing concern he highlights is the underemployment of engineering graduates, urging a shift in this trend.
In essence, Tamil Nadu’s journey to becoming a startup hub rests on the synergy between the government’s facilitative role and the dynamism of the entrepreneurial community.
