Chennai: StartupTN, the State Government’s nodal agency for Startup and innovation, functioning under the Department of Micro, Small and Medium Enterprises (MSME) Department, is inviting applications from Startups for ‘TANSEED 6.0’, the sixth edition of Tamil Nadu Startup Seed Fund (TANSEED).
‘This edition of TANSEED aims to support deserving Startups with Support Equity-linked Grant Fund. Since its inception in 2021, TANSEED Fund has been sanctioned to 132 Startups, an official press release said on Wednesday.
TANSEED is the Government’s flagship seed fund initiative for Startups, aimed at bridging the gap in fund requirements of Startups during their early stages. From the 5th edition, it has been revamped to function as a Support Equity-linked grant fund, providing support of up to Rs 15 Lakh to Green Tech, Rural Impact & Women-led Startups and up to Rs 10 Lakh each to Startups in other sectors.
As a part of the support provided, StartupTN will take a 3% Support Stake in the Startup ventures and provide them with a one-year accelerator programme that includes mentorship support, priority for participation in various networking events and National & International Startup delegations.
