Indian states are creating exclusive programmes for start-ups and budding entrepreneurs. Whether its Tamil Nadu’s Electric Vehicle Policy or Telangana’s MSME Prerna programme, Indian States want to attract investor interest and are in a bid to transform their state into the biggest start-up hub in the country.
What is the Tamil Nadu Start-up and InnovaTN Mission (TANSIM)?
The Tamil Nadu Start-up and InnovaTN Mission (TANSIM) which is branded as StartupTN is an exclusive platform for Tamil Nadu based start-ups by the state government. It is aimed at supporting start-ups by bringing together stakeholders including mentors, investors, incubators, ecosystem partners, etc., to accelerate start-up growth. StartupTN was established as a ‘Section 8’ (charitable/non-profit) company under the MSME (micro, small, and medium enterprise) department in March of this year. The sole mandate of the mission is to implement the ‘Tamil Nadu Start-up and Innovation Policy 2018-23’ by the Tamil Nadu government.
Benefits for Start-ups, Micro, Small and Medium Enterprises
Through TANSIM, the Tamil Nadu government is providing concessions to start-ups in the state, based on recommendations by the state’s Mission Director. It provides a fillip to micro, small and medium enterprises through various support schemes and programmes. TANSIM is creating an enabling ecosystem for start-ups in the state. Registered start-ups will obtain concessions for procurements below INR 20 Lakh in value. This implies that registered start-ups will get exemptions from payment of Earnest Money Deposit. They will also be exempted from conditions of poor turnover and prior experience. Start-ups will also enjoy waivers on tender cost.
TANSEED and how it is related to TANSIM
TANSEED (Tamil Nadu Start-up Seed Grant Fund) is a seed grant under TANSIM which start-ups can apply to avail seed grant of INR 10 lakh for each start-up. Taking place in the months from July to September of this year, applications are open for start-ups and the last date to register for this second edition of TANSEED, dubbed TANSEED 2.0 is the 20th of August. 20 start-ups stand a chance to win the seed fund grant. TANSEED is an initiative that’s promoting innovation and the start-up culture among budding entrepreneurs.
TANSIM is creating an enabling ecosystem for start-ups in the state. Registered start-ups will obtain concessions for procurements below INR 20 Lakh in value.
What’s in it for me?
TANSIM is an exclusive forum for start-ups who are already registered in Tamil Nadu. Budding and aspiring entrepreneurs who are interested to avail the benefits of this programme must be willing to register their start-up in the state of Tamil Nadu. StartupTN has its own online portal and official website where all the details and information about the mission are readily available for stakeholders wanting to know more about it.
These initiatives by the Tamil Nadu government are aimed at transforming the state into a Knowledge Capital and Innovation Hub as more start-ups continue to be added to its beneficiary pool. Through this mission, the Government of Tamil Nadu wants to be a part of each stage of the start-ups journey right from Ideation, Validation, Early Traction to the Scaling stage. By joining the mission, you will be contributing towards fostering the entrepreneurial ecosystem in the State while becoming a part of the state-wide start-up hub.
Prominent investors, accelerators and potential partners like Yes Bank, AWS Activate (Amazon Web Services program for early-stage start-ups and entrepreneurs) and Freshworks for start-ups (a start-up accelerator program by Freshworks, a unicorn enterprise tech SaaS start-up) are a part of this programme.