TANSEED

A Support Equity-linked Grant Fund
StartupTN is inviting applications from Startups for ‘TANSEED 6.0’, the sixth edition of TANSEED.  From the 5th edition of TANSEED, 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.

TANSEED Implemented as per the G.O. No. 49 MSME [A] Department dated 18.06.2020 (Detailed Guidelines & Selection Process mentioned here)

For any support, feel free to reach us at 155343 or tanseed@startuptn.in

Apply Now

ABOUT TANSEED

TANSEED is the Government of Tamil Nadu’s flagship seed fund initiative for Startups, aimed at bridging the gap in fund requirements of Startups during their early stages. The fund provides seed funding to Startup founders in an equity model to help them develop their products, validate their ideas and scale up their businesses. TANSEED implemented as per the G.O. No. 49, MSME `{`A`}` Department Dated 18.06.2020 and as per StartupTN Policy.

SEED FUND SUPPORT

Under TANSEED, the seed fund support up to Rs. 15 Lakh to Green Tech, Rural Impact, and Women-led Startups (As per G.O. 87 MSME (A) Department dated 26.12.2022) and up to Rs. 10 Lakh each to other Startups. 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.

APPLICATION PROCESS

  1. Start by clicking the apply button, which will take you to www.tanfund.in.
  2. Sign up and set up your account on www.tanfund.in.
  3. Log in and share the details of your startup.
  4. Once you’ve provided all the necessary information, click the submit application for TANSEED 6.0 button.
  5. Keep track of your application status right there on the website.

ELIGIBILITY CRITERIA

  1. The entity should be registered as a Private Limited Company (under Companies Act 2013)(However, if some applying companies are currently registered as LLP or Partnership, These applications will also be reviewed, taking into consideration their willingness to convert the entity registration to Private Limited.)
  2. The entity should be a Startup registered with TANSIM and STARTUP INDIA. It shall be located and registered in Tamil Nadu.
  3. The average profit of the entity (as per income tax return) for the last 3 years (or lesser in case it’s a newly registered entity) shall be less than Rs.5 Lakhs.
  4. Working towards innovation, development or improvement of products or processes with a high potential of employment generation, social impact or wealth creation. The startup must be working on an innovative product or technology and not involved in pure service delivery. Have at least a Proof of Concept (PoC) of the Idea or a Minimum Viable Product (MVP). Use technology in its core product or service, or business innovation model, or innovative distribution model, or innovative methodology to solve the problem being targeted.
  5. The entity should not have been formed by splitting up, reconstruction of a business already in existence or as a Subsidiary/Joint Venture/Associate of another Company.
  6. The startup should have cleared all / not have any other pending dues with any of the Government agencies and shall not be blacklisted by any Government agency in India.
  7. The applicant may be incubated in an incubator for at least six months at the time of application.
  8. Applicant has to be an Indian start-up. This support is not meant for Indian Subsidiaries of MNCs/Foreign Companies. Persons holding Overseas Citizenship of India (OCI) and Persons of Indian Origin (PIO) would be considered as Indian citizens for the purpose of this scheme. The shareholding by Indian promoters in the incubated Startups should be at least 51 %.
  9. The Seed Fund is not generally given for service company working in Traditional Trade and Commerce.
  10. The seed fund shall be funding the development of the prototype or a product which is market ready / of small level pilot production only and shall not be for regular research which any University or College can foster.

Note: StartupTN reserves the right to add or modify TANSEED Rules & Regulations and the Implementation Process.

SHORTLISTING CRITERIA

  1. The startup must be working on an innovative product or technology and not involved in pure service delivery. Have at least a Proof of Concept (PoC) of the Idea or a Minimum Viable Product (MVP). Use technology in its core product or service, or business innovation model, or innovative distribution model, or innovative methodology to solve the problem being targeted.
  2. Problem Identification and impact of the solution.
  3. Potential for scaling up and employment creation.
  4. Commitment, expertise & pedigree of the team.
  5. The depth of research done on the identified problem.
  6. If the startup has any dues with TANSIM, that needs to be cleared before availing the fund.
  7. Business plan and usage of Fund – Clear deliverables and outcomes have to be mentioned by startups in their application. The shortlisting will be based on the quality of the business plan provided. Product-market fit, early customer feedback, technological capability of startup team to execute the project are some of the factors considered for shortlisting.
  8. Funds received by the applicant like grants, prize money and other financial modes will also be taken into consideration before sanction. Priority will be given to those startups who have not received any fund.
  9. The shortlisted Startups will be asked to submit a 2-Minute video introduction of the product along with the pitch deck.
  10. The shortlisted Startups will then pitch to the TANSEED Expert / High Level Committee, who will recommend if the Startups are worth funding.

Note: StartupTN reserves the right to add or modify TANSEED Rules & Regulations and the Implementation Process.

Apply Now

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