TN’s Emerging Sector Seed Fund Invites Entrepreneur Applications | Chennai News

CHENNAI: The Tamil Nadu government is inviting applications from entrepreneurs for an investment from the Tamil Nadu Emerging Sector Seed Fund (TNESSF) which was announced in the state budget in March.
The Rs 50crore fund was set up to invest in startups and other businesses that work in ’emerging/emerging’ sectors including AI/ML, cloud computing, advanced manufacturing/robotics, blockchain, cybersecurity, IoT, AR/VR, agritech, healthtech, edtech, climate action, gaming, adtech and others, in exchange for equity.
Individuals eligible to apply must be headquartered in Tamil Nadu or willing to relocate to the state or have significant operations in TN. They must work on innovation, development or improvement of products or processes in the emerging sectors mentioned above.
“The goal is to identify and invest in bankable startups and emerging sector companies to add alpha to the business in the form of financial and non-financial support. The differentiator of the program is that even a long standing MSME with separate divisions working on specified sectors will be eligible. TANSIM (Tamil Nadu Startup and Innovation Mission) will be a partner that will help spread the word and garner more applications from state entrepreneurs” , said Sivarajah Ramanathan, CEO of TANSIM.
The fund is managed by Tamil Nadu Infrastructure Fund Management Corporation. Although there is no deadline to apply, the first batch of evaluation will cover proposals received until May 30, 2022.

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