Tuesday, March 21, 2023

TANSEED 5.0 equity model to develop businesses in Tamil Nadu

TANSEED 5.0 will offer an equity concept for entrepreneurs to encourage growth. Since TANSEED’s 2021 start, the state has helped 84 firms. For the first time, TANSEED would be distributed in exchange for a 3% stake in the firms in its fifth edition.

According to a government news release, stock investment “aims at supporting the companies through skilled coaching to reach their milestones and fly to greater heights.” 50 entrepreneurs will receive equity investments in TANSEED 5.

TANSEED helps startups find finance. Green technology, rural impact, and women-led enterprises receive up to Rs 15 lakh from the seed grant. At the assembly, T M Anbarasan, the minister for small and medium-sized businesses, said this scheme will give Rs 10 crore to 100 entrepreneurs.
The press release advises entrepreneurs using TANSEED to identify, develop, or upgrade job-creating goods. 

The startup must register with the department of development of industry and internal trade and have its headquarters in Tamil Nadu. The government claims that previous TANSEED beneficiaries grew and raised venture funding from notable investors.

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