Chennai has achieved notable rankings in the startup world, according to Startup Genome, an organization that tracks startup ecosystems. In the Asia regional rankings, Chennai’s startup ecosystem ranked 18th in Asia, and globally, it falls within the 21-30 range for emerging startup ecosystems. It ranks in the top 25 globally and top 10 in Asia for affordable skilled workers, highlighting its attractiveness for talent.
Additionally, Chennai is among the top 15 in Asia for performance, measured through the success of tech startups in terms of their exits and funding. In terms of early-stage funding and investor activity, Chennai is in the top 20 in Asia. Furthermore, it is also listed among the top 25 ecosystems in Asia for talent and experience. These rankings underscore Chennai’s growing importance and potential as a startup hub, offering a supportive environment with accessible talent and funding.
Chennai’s Startup Ecosystem Ranked 18th in Asia
Chennai has gained significant recognition in the startup world. According to Startup Genome, it ranks 18th in Asia and falls within the 21-30 range globally for emerging startup ecosystems.
A report highlights Tamil Nadu’s impressive achievements in the startup sector. From July 2021 to December 2023, the state generated $27.4 billion in ecosystem value, reflecting the economic impact of successful startup exits and valuations.
Efforts to boost the number of startups in Tamil Nadu have been successful. The number of startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT) jumped from 2,300 in March 2021 to over 8,500 currently. These developments show Chennai and Tamil Nadu’s growing importance as a supportive environment for startups, offering accessible talent and significant economic contributions.
Tamil Nadu’s Ambition for a Top Global Startup Ecosystem
Sivarajah Ramanathan, CEO of StartupTN, expressed the state’s long-term goal of becoming one of the top 20 global startup ecosystems. He noted that these rankings are valuable for assessing the state’s global position and identifying areas for improvement in talent, support, and policies.
Tamil Nadu has received significant recognition for its efforts to foster startups. In 2022, Startup India named Tamil Nadu the best performer in startup rankings. In 2023, the Atal Innovation Mission acknowledged the state as a model for innovation ecosystems. The number of startups in Tamil Nadu has grown rapidly, showcasing the state’s commitment to becoming a leading hub for innovation and entrepreneurship.
Tamil Nadu’s Plans to Boost Startup Growth
StartupTN aims to elevate Tamil Nadu into the top 20 global startup ecosystems. The state is enhancing its startup ecosystem across tier I, II, and III cities to achieve this. Regional hubs have been established in cities like Madurai, Tirunelveli, Erode, Salem, Thanjavur, Cuddalore, and Hosur, with satellite offices in Coimbatore and Tiruchy to promote growth statewide.
A Global Coordination Center (GCC) has been set up in Dubai to help Tamil Nadu startups expand into West Asian markets. In the future, more GCCs will be established in other countries. Additionally, the state has announced that a Global Startup Summit will be held in Chennai in early 2025.
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