Registration Ends: 21st August 2022 (Check Contest Website) Reward: Fund Upto 10 Lakh INR
About the Contest:
“TANSEED” (Tamil Nadu Startup Seed Grant Fund) which is in the fourth edition, The first three editions of TANSEED have supported 60 beneficiary startups from hundreds of applications received each edition. TANSEED provides a seed fund support up to INR.10 Lakhs as a grant to budding startup entrepreneurs in their early stages of the company. TANSEED aims to bridge the gap in fund requirements of startups during their early stages.
The grant is awarded based on a rigorous evaluation process as outlined in the MSME(A) G.O.(Ms) No.49 guidelines. Among the applications received, the best startups are pre-selected after the first level of evaluation. These startups go through boot camps, training, and mock pitch sessions. These selected startups make a final pitch in front of a judging panel comprised of an esteemed panel consisting of the mission director, a finance department nominee, successful entrepreneurs, venture capital firm partners, angel investors and of experts in the field. Finalists of the Final Pitch get awarded with grants of INR 10 Lakhs each.
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Eligibility Criteria
The entity should be a Startup registered with TANSIM and STARTUP INDIA. It shall be located & headquartered in Tamil Nadu or willing to relocate the registered office to Tamil Nadu.
The entity should be registered as a Private Limited Company (under Companies Act 2013), or a Limited Liability Partnership (Under Limited Liability Partnership Act 2008), or a registered Partnership firm (under Partnership Act 1932).
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 Lakh.
Working towards innovation, development, or improvement of products or processes with a high potential of employment generation, social impact, or wealth creation.
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.
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.
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 Startup should be at least 51%.
The Seed Grant is not generally given for service Startups working in Trade and Commerce.
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.
StartupTN reserves all rights in adding additional conditions / modifying existing conditions on a case-to-case basis.
Areas covered under the Grant:
The Startups would be supported primarily on the following:
To develop a prototype or working model to demonstrate the proposed technology solution and also cover the cost of equipment rental.
Hiring technical mentors to aid and assist in prototype creation.
Manpower for product development.(Not more than 30% of Grant)
Test Marketing
Testing, certification, and trials.
Any other expenses deemed fit by the TANSEED Expert Committee.
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Reward: Fund Upto 10 Lakh INR
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Category of the contest: Startup Contest
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