Tamil Nadu govt to introduce equity model under TANSEED 5.0 to encourage startups

Tamil Nadu would introduce an equity model for startups in the fifth edition of Tamil Nadu Startup Seed Fund (TANSEED 5.0) for the first time, aimed at encouraging the enterprises to scale up their operations, the state government said on Sunday.

Since the introduction of TANSEED in 2021, the government has supported 84 startups in the state. In its fifth edition, TANSEED for the first time would be awarded in an equity model for 3 per cent stake in the startups.