CURRENT AFFAIRS

Detailed explanation-1: -Tamil Nadu Government has launched the Tamil Nadu Startups and Innovation Policy 2018-2023 to foster entrepreneurship and innovation ecosystem in the state with Entrepreneurship Development and Innovation Institute (EDII) as the nodal agency.

Detailed explanation-2: -The Tamil Nadu Startup and Innovation Policy 2018-2023, aims to provide an enabling, innovative ecosystem in the State. Implementation of the policy will enable the State to emerge as the “Knowledge Capital” and “Innovation Hub” of the country. It will also attract entrepreneurs and investors across the globe.

Detailed explanation-3: -The Tamil Nadu startup policy is aimed at establishing at least 5,000 startups, including ten global high growth ventures in social impact sectors by the year 2023. The initiative will include comprehensive measures for creating, supporting and nurturing a vibrant startup ecosystem in the State.

Detailed explanation-4: -The government of Tamil Nadu has released Start up and Innovation policy 2018-2023. Its mission is to provide an enabling and innovative ecosystem for start-ups registered in the State and to make Tamil Nadu a ‘Global Innovation hub for start ups’ by 2023.

Detailed explanation-5: -The State has set up Tamil Nadu Seed Grant Fund Scheme (TANSEED) for grant support of up to INR 50 Lakhs to the startups, and INR 50 Lakhs per year to the incubators. The Government of Tamil Nadu conducted events to provide a platform for the startups to connect with private investors.