Corporate Ecosystem in Coimbatore

CORPORATE ECOSYSTEM IN COIMBATORE – GENERAL PERSPECTIVE

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Coimbatore is known as the " Manchester of South India" because of its extensive spinning and textile industry, which is fed by the surrounding cotton fields. TIDEL Park Coimbatore in ELCOT SEZ (Special Economic Zone) set up in the year 2006 was the very first special economic zone (SEZ). ?In the year 2010, Coimbatore was ranked?15th?on the list of most competitive business environments among Indian cities. Big-time employers like Larsen and Toubro, Cognizant Technology Solutions, and Robert Bosch are noteworthy and large corporates in Coimbatore employing a considerable number of human resources and forming the basic foundation of the Coimbatore Corporate Ecosystem.

Of the sheer industrial activity in Coimbatore, it is known as the Detroit of South India. The city is also popularly known for its handloom products, wet grinders manufacturing, and motor pumps with large, small-scale industries and lathe and machining workshops as auxiliary manufacturing setups for major industries and thus there is a forged symbiotic business interdependence. There are numerous technical institutions. Coimbatore has 7 Universities (Bharathiar University, Agricultural University, Amrita University, Karpagam University, Karunya University, Avinashilingam University, AND ANNA University regional campus) with a large potential talent pool and educated human resource population blended with heterogeneous cultural diversity. The major languages spoken are Tamil, Telugu, Malayalam, and Kannada and the Nilgiris Baduga Language gives a spice and variety of linguistic communication channels and ethnicity. Coimbatore city of Tamil Nadu enjoys Cool weather throughout the year with reasonable monsoons without any water scarcity and is located on the pleasant Kongu Nadu plateau. ?High-quality medical services provided by corporate hospitals such as KMCH, KG Hospitals, Ganga Hospital, GKNMH, and PSG Medical College Hospital add value to the ecosystem.

The corporate ecosystem is widely supported by The Confederation of Indian Industries (CII), The Indus Entrepreneurs (TiE) Coimbatore Chapter, CODISSIA, SIEMA, SITRA, ICCI (The Indian Chamber of Commerce and Industry), Coimbatore

Coimbatore is one of the fastest-growing tier-II cities in India and a major industrial hub in South India. It is often referred to as the “Pump City”, the data speaks for itself, (i.e.) in every 2 pumps sold in India one is from Coimbatore. Coimbatore City is one of the largest exporters of jewelry, wet grinders, poultry, and auto components. The city was ranked fourth among Indian cities in investment climate by the Confederation of Indian Industry.?

The START-up ecosystem of Coimbatore City is emerging as a fast-growing center with reasonable investments in various sectors such as IT, Software development, Data Analytics, and Artificial Intelligence. Coimbatore is now the hub of major Government sponsored SEZ tidel parks, and many private tech parks.

The people of Coimbatore have entrepreneurship and loyalty in their DNA and the same is demonstrated by age-old titan industries such as LMW, Pricol, ABT, Trigger, Sri Varadharaja Mills, Roots Industries, Textool, KG Group, CRI pumps, Elgi,? PSG Group and Stanes Group, etc. Coimbatore has a legacy of spirited entrepreneurs who did a lot for the city.

?Substantial investments and growth are visible in Agro industries and Agro products as well in recent times. “If you are in Coimbatore building something different, especially in allied textile equipment manufacturing, hardware, electrical components, printing industry, and may it be Software development, data analytics or IT outsourcing the ecosystem rallies behind you.” In addition, Coimbatore has very good Startup Incubation facilities in almost all the technical educational institutions and universities and Private incubators as well such as Forge, PSGSTEP, amritatbi, and many more. These Ventures and startup innovations are rightly encouraged by both Central and State Government support schemes such as the Department of Science and Technology GOI, Startup TN, Atal Innovation Mission, Startup Studio, MSME, Niti Aayog, Naan Mudhalvan, Meity Startup Hub, NSTEDB and Indian Angel Network.?

Business minds and Heads turned towards Coimbatore when Ratan Tata, Chairman Emeritus, Tata Sons, invested in Ampere Electric, an electrical vehicle startup from Coimbatore. Just earlier, IT giant Infosys acquired the city-based Skava Technologies, a digital and m-commerce solution provider for USD 120 million. ??

Coimbatore has 43 startups, and this represents about 1% of India’s startups. Coimbatore is the 13th-best startup ecosystem in India, 18th in South Asia, and 421st in the World. Coimbatore has plenty of Co-working spaces such as Indiqube and accelerators.?

Startups in Coimbatore excel in Software and data, Marketing and sales, and Healthtech. Many notable success stories contribute to the city’s growing Software and data industry. The above-mentioned three industries represent about 79% of the startups represented on the Startup Ecosystem Map of Coimbatore with a population of 2M - 10M people approximately.?

Coimbatore, the second-largest industrial city in Tamil Nadu (after Chennai), prides itself on being “self-made”. It doesn’t have the patronage of a single public sector undertaking, and yet it has grown into an economic powerhouse –– from engineering to textiles to jewelry to education to hospitality to IT services –– on the strength of its entrepreneurial spirit. Distinctively the ecosystem of entrepreneurship that the Coimbatore city provides has drawn business-oriented people from afar. In addition, the neighboring industrial and business towns of Tirupur, Erode, and Salem add strength to this region. Geographically Coimbatore is located nearer to Cochin in Kerala and Bengaluru of Karnataka ideal for inter-state commerce and business activity.?

Coimbatore is a unique, ultimate, and reinforced city with its strength and now competing and demonstrating that the corporate ecosystem is steady, growing with a promising and determined future. Coimbatore welcomes you.

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