Funding Support to Startups provided by Tamil Nadu State Government
A) TANSEED – Tamil Nadu Seed Grant Fund Scheme (G.O. No. 49 MSME (A) Dept. dated 18.06.2020) Click here for Guidelines
By Tamil Nadu Startup and Innovation Mission (StartupTN)
- Upto INR 10 Lakhs – Seed Grant.
- INR 10 Lakhs upto INR 50 Lakhs – Matching Grant Support for Startups.
- Revolving Fund Support to Incubators upto INR 50 Lakhs every year
- Seed Grant upto INR 1 Lakh for Student Startups.
The First Edition of Tamil Nadu Startup Seed Grant Fund (TANSEED) 2021 was organized by Tamil Nadu Startup and Innovation Mission (StartupTN), with the support of Headstart Network Foundation and Ecosystem Partners, as a Grand Challenge during January-February 2021 and has supported ten startups with a seed grant of INR 10 Lakh each. (Click here for programme report and details)
TANSEED for the Financial Year 2021-22
StartupTN has launched the Second Edition of TANSEED 2021 in July 2021 supporting upto 20 Startups with seed grant of INR 10 Lakh each. As per the Guidelines, the call for applications from startups will be issued every quarter. (Click here for details and application)
Closing Date: August 20th, 2021, Online at startuptn.in
Event Date: Sept 2nd - 6th, 2021, Online
Event Date : Sept 11th & 12th,2021, Online
Event Date: Sept 18th & 19th,2021, Online
Registration: Application can be made online at www.startuptn.in
The last date for application is E.O.D 20th August, 2020. All participants will be required to register in the StartupTN portal to access the application form.
Startups registered and willing to register in Tamil Nadu are eligible to apply.
The applications will be shortlisted based on the criteria mentioned in the guidelines and the committee will also evaluate parameters such as Team, Market Potential, Traction, Impact Potential, Product and will be onboarded for the Bootcamp.
The Startups will be requested to submit self-declaration forms and any other supporting documents required by StartupTN for due diligence, compliance verification and on a case-to-case basis.
The decision of the Jury will be final.
In the following months of this Financial Year 2021-22, StartupTN has planned to launch the Matching Grant support to Startups above INR 10 Lakh to upto INR 50 Lakh and the revolving fund support to Incubators in the State to upto INR 50 Lakh each.
Ideation stage and early stage Startups and Students, preferably Final Year can avail the seed grants from Innovation Voucher Programme,run by EDII-TN, as detailed below:
B) Innovation Voucher Programme (IVP) by Entrepreneurship Development and Innovation Institute – Tamil Nadu (EDII-TN)
- Voucher A – Seed Grant upto INR 2 Lakh for PoC to MVP/Prototype.
- Voucher B – Seed Grant upto INR 5 Lakh for Market Entry, Research and Scaling up.
To avail Voucher A & B please visit https://editn.in/pages/view/ivp
Orders were issued for the Innovation Voucher Programme (IVP) (G.O.(Ms.) No.17, MSME (D2) Department dated 19.06.2018, to offer Financial Support to MSMEs to increase their innovation capacity in the business operations, at a budget provision of Rs. 20 Crore per year to support 400 entrepreneurs every year.
Amendments were issued to Innovation Voucher Programme (IVP) vide G.O.(Ms.) No. 79, MSME(A) Department dated 08.12.2020 to support Manufacturing/ Service MSME / Startups. IVP is therefore open for all MSMEs, Aspiring Entrepreneurs and Startups in the state and the grant is disbursed by signing a Tripartite agreement between EDII-TN, Applicant and Knowledge Partners (preferably Incubators).
Applications are invited online www.editn.in throughout the year.
C) NEEDS – New Entrepreneur Cum Enterprise Development Scheme through Department of Industries and Commerce, Tamil Nadu and Tamil Nadu Industrial Investment Corporation (TIIC) – 25% capital subsidy from projects from INR 5 Lakh to INR 5 Crore and 3% interest subsidy for MSMEs and extended to Startups capped to INR 25 Lakhs. Mechanism: https://www.tiic.org/need-scheme/