UEF's Rs 50 cr venture fund set to power start-ups in TN

CHENNAI: The three-day UEF Trade Summit 2025 concluded on Sunday at the Chennai Trade Centre, marking a significant milestone with the signing of a series of high-impact Memoranda of Understanding (MoUs) and the unveiling of major initiatives to accelerate Tamil Nadu's economic growth.

A key highlight of the summit was the signing of 10 MoUs to enable 10X business growth through strategic advisory support, expanded market access, and enhanced networking opportunities. Among them, a landmark MoU was inked between the United Economic Forum (UEF) and the United Nations Sustainable Development Council (UNSDC), which has consultative status with the United Nations Economic and Social Council (ECOSOC).

The partnership will drive the implementation of the 17 UN Sustainable Development Goals across 45 UEF-associated educational institutions, including community-run colleges and schools.

Another major announcement was the launch of a Rs 50-crore venture fund, forming the first tranche of a proposed Rs 100-crore in-house fund jointly set up by UEF and Anicut Capital, headed by Balamurugan. The fund aims to support startups and entrepreneurs in Tamil Nadu to scale their businesses.

The summit, inaugurated on Friday by Industries Minister TRB Rajaa, brought together over 4,000 delegates from 20-plus industries, featured more than 80 speakers and hosted over 200 exhibition stalls.

The concluding day on Sunday featured insightful sessions by StartupTN CEO Sivarajah Ramanathan, Naturals CMD C K Kumaravel, Twin Health CEO Maluk Mohamed, Zoho's former creative director Raffic Aslam, motivational speaker Bharathy Bhaskar and other industry leaders, who shared perspectives on entrepreneurship, innovation and inclusive growth.

The summit reaffirmed its vision of "Unnatha Tamizhagam, 4Tn for TN by 2047," underscoring its commitment to fostering startups, partnerships and sustainable development across the State.