Nagercoil Corporation gives impetus to startup growth with subsidised workspaces

In an effort to boost the development of startup companies in Kanniyakumari district, the Nagercoil Corporation has provided workspace to 10 startup firms that are registered under Department of Promotion of Industry and Internal Trade (DPIIT) and Startup TN platforms, at subsidised rates.

The spaces were provided at the Nagercoil Corporation’s new complex at the omni bus stand, with the aim of making the city an innovation hub and a support centre for startups emerging from the district.

Speaking on the initiative, Nagercoil Corporation Commissioner Nishant Krishna said the core aim of the initiative was to create an eco-system that could help nurture startup firms.

“Considering the space congestion in the city and high cost of rented shops, we have allotted these spaces for startup firms at a concessional rate solely for the growth and development of both firms and the city,” he added.

Mr. Krishna noted that since the current facility is in one of the prime locations in Nagercoil, it facilitates easier accessibility for investors.

“Assesing the operation of these startup firms, we will also develop more facilities for them in the city as per their demand,” he said.

The 10 firms set up operate in various sectors, including AI powered technology company delivering solutions for healthcare, education, fintech enterprise and IT sector, Geographic Information System (GIS) company specialising in geospatial solutions and spatial intelligence services, ride hailing platforms focusing on tier III cities, AI based business automation ecosystem and others.

S. Satheesh Kumar, who rented a space for his firm at the building, lauded the initiative by Nagercoil Corporation to bring in several startup organisations from across the district under one location. He added, “We had already partnered with Kanniyakumari district administration last year, developing a dashboard for coordinating and simplifying operations during the silver jubilee celebration of Tiruvalluvar statue.”

Mr. Kumar further observed that enhancement of these measures would exhort budding companies and tech firms from the district.

One of the project lead of Tirunelveli region’s Startup TN said that creation of such a startup ecosystem in tier III cities like Nagercoil would help improve the employment opportunities in the region. He added that establishing their firms in prominent locations will positively improve their business visibility and was expected to attract investors.