The Tamil Nadu Start-up and Innovation Mission (TANSIM) has announced the third edition of Tanseed (Tamil Nadu Start-up Seed Grant Fund), a scheme under which eligible start-ups will be identified by an eminent jury and be given a grant funding support of ₹10 lakh. The grant will primarily help the survival needs of start-ups during their early stages.
With the start-up horizon widening in Tamil Nadu, it has been decided to extend the seed grant to up to 50 start-ups this year. “One of our missions is to create 10,000 new start-ups across the State in the next four years. the Tanseed scheme will play a very huge role in furthering this mission, by helping early-stage start-ups and, in turn, creating the thriving entrepreneurial ecosystem we envision. All our programmes will be spread across the State, without getting concentrated in metropolitan and tier-I cities,” Sivarajah Ramanathan, Chief Executive Officer, TANSIM said.
Around 640 start-ups applied in the second edition, and 53 of them were shortlisted for a boot camp. Finally, 30 start-ups made it to the pre-final pitch, among which 19 were chosen for the funding.
