StartupTN launches TANSEED 5.0 for equity investment in TN based Startups

CHENNAI: Tamil Nadu Startup and Innovation Mission (StartupTN) is inviting applications from Startups for 'TANSEED 5.0', the fifth edition of Tamil Nadu Startup Seed Fund (TANSEED).

The TN government's flagship seed fund initiative is aimed at bridging the gap in fund requirements of Startups during their early stages, the seed fund provides support of up to Rs. 15 Lakh to Green Tech, Rural Impact & Women-led Startups and up to Rs. 10 Lakh each to other Startups, according to mission director and chief executive officer of TN StartupInnovastion Mission.

The fifth edition of TANSEED is aimed at benefiting 50 Startups in the form of equity investments. Aspiring Startups should work towards innovation, development or improvement of products or processes with high potential of employment generation, social impact or wealth creation.

The Startup should be headquartered in TN and it should be registered with StartupTN and the department of Promotion of Industry and Internal Trade of the Union Government, the release said further.

The applications can be submitted online through the StartupTN portal www.startuptn.in. The last date for submission of application under TANSEED 5.0 is March 5, 2023, he release added.