+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Tamil Nadu govt wants to be the next startup hub in India

Nov 24, 2015, 16:28 IST

Advertisement

After the central government announced its plans to make a start-up friendly environment in the country and Karnataka government following suit, the Tamil Nadu government is talking to startup founders and industry veterans so that it can chalk out a policy to make state-level documentation easy for new firms.

To make this possible, a group of entrepreneurs, which includes Cognizant founder Lakshmi Narayanan and Polaris founder Arun Jain, has suggested the state industries department steps to evolve a policy which will not hassle new startups with the lengthy procedure of company registration.

"It takes more than a month to get your company a name. Getting office space at Tidel Park with no name is near-impossible. The startups get stuck, wasting time for product development in procedure," says Lakshmi Narayanan, who cofounded Cognizant and is now its vice-chairman.

The policy, which is in its early stages, is being discussed without a s[no specific time-frame. Cutting the time taken for a startup to get registered is the primary focus, which would pave the way for all business operations such as tie-ups and funding.

Advertisement

"At the outset, the idea is welcome. Even Karnataka is planning a startup policy. At the national level, the centre is considering this to plug flight of startups. So, it is time for Tamil Nadu too. A liberal startup policy is already enshrined in the state's IT/ITeS policy and any additional lines of action to that are welcome," a top government official who is aware of the developments told ET.

Image Source
Next Article