Tamil Nadu

Applications invited from SC/ST entrepreneurs

The Tamil Nadu Startup and Innovation Mission (TANSIM) has called for applications from Scheduled Caste and Scheduled Tribe (SC/ST) entrepreneurs who are looking for funding to run and scale up their businesses.

Called TN SC/ST Startup Fund, this is an exclusive fund for start-ups promoted by SC/ST founders. The investment will be made in the form of equity or debt based on the evaluation and recommendation of the Investment Committee.

To be eligible for the funding, more than 50% of equity of the company should be held by one or more persons who belong to SC/ST category. The entrepreneur should be a native of Tamil Nadu or of Tamil origin and preference will be given to those who have their principal base of operation within Tamil Nadu.

“We will be talking to associations and NGOs who work with SC/ST communities to create awareness that the government has come out with a funding for them. When it comes to entrepreneurship, they should not be left out and they should be on par with any other new age firm,” said Sivarajah Ramanathan, Chief Executive Officer of TANSIM.

During the State budget this year, Finance Minister Palanivel Thiaga Rajan had said a corpus of ₹30 crore will be provided to Tamil Nadu Startup and Innovation Mission to support start-ups by Scheduled Caste and Scheduled Tribe entrepreneurs. Details of this funding can be found on www.startuptn.in

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Printable version | May 20, 2022 9:57:27 pm | https://www.thehindu.com/news/national/tamil-nadu/applications-invited-from-scst-entrepreneurs/article65440058.ece