Stalin launches initiatives to benefit startups through StartupTN

CHENNAI: Tamil Nadu Chief Minister M K Stalin on Friday launched various initiatives to benefit startups through the Tamil Nadu Startup and Innovation Mission (StartupTN).

The special category packages for startups include green tech, rural impact and women-led startups considering the larger public interest. The government order issued states that a 50 percent increase in the grant for the startups mentioned in the special category.

The state provides exclusive co-working spaces for women-led startups, and it will be given for free of rent.

A special entrepreneurship training programme, a special women's mentorship programme and a portal integrating startup ecosystem enablers are among the benefits in store for women-led startups.

In addition, eligible startups under the Tamil Nadu Startup Seed Grant Fund (TANSEED) will be provided higher amounts of seed funds as equity or convertible debentures from the Tamil Nadu emerging sector seed fund scheme through an accelerated application processing window.

As green tech space startups are concerned, an exclusive annual event to showcase climate action startups and to connect with growth enablers. Also, exposure to global best practices by partnering with global accelerators and visits to international summits and trade expos.

The Chief Minister handed over Rs 1.25 crore for the first batch of 25 startups in TANSEED, where Rs 5 lakh each given to the startups belonged to green tech, rural impact and women-led startups. A total of 7 Green Tech Startups, 8 Rural Impact Startups and 10 Women-led Startups received the grant.

The second tranche of Rs. 5 lakh each will be handed over to them after they reach the milestones set for them.