The Tamil Nadu Startup and Innovation Mission (TANSIM / StartupTN) is inviting applications for Tamil Nadu Startup Seed Grant Fund (TANSEED) 4.0.
Under this scheme, financial support of up to ₹10 lakh each will be provided to early-stage start-ups. It is aimed at bridging the gap in fund requirements of start-ups during their early stages.
The start-ups applying for the grant should work towards innovation, development or improvement of products or processes with a high potential of employment generation, social impact or wealth creation. The start-up should be registered with TANSIM and Startup India and should be headquartered in Tamil Nadu or should be willing to relocate the registered office to the State.
Funding will be provided for the development of prototype or product which is market-ready or of small level pilot production. The entity should not have been formed by splitting up from another firm, reconstruction of a business already in existence or as a subsidiary or joint venture or associate of another company. This grant is not meant for Indian subsidiaries of MNCs and foreign companies. The start-up should not have any dues with any of the government agencies and blacklisted firms will not be accommodated.
Sivarajah Ramanathan, Mission Director and CEO of TANSIM, said till date TANSEED fund had been given to over 60 start-ups from across the State. “In December 2021, Chief Minister M.K. Stalin handed over cheques to the beneficiaries of the second edition. Next month, he will be handing over the cheques to 31 beneficiaries who have been shortlisted for funding in TANSEED 3.0,” he said. He pointed out that many beneficiaries of previous editions of TANSEED have now scaled up their ventures and have also raised venture capital funding from prominent investors.
Applications and other details on this funding can be found online on the StartupTN portalwww.startuptn.in
