The Tamil Nadu government has unveiled a new start-up fund worth approximately £27,000,000 as part of the new Tamil Nadu Startup and Innovation policy 2018-2023.
The Tamil Nadu Startup and Innovation policy, aims to provide an enabling, innovative ecosystem in the state and hopes to support the emergence of at least 5,000 technology start-ups.
The policy also hopes to extend dedicated support to at least 10 global high growth start-ups developing innovative technology solutions for high social impact in sectors including sanitation, food, clean energy, healthcare, education.
The first tranche of approximately £2,800,000 will be allotted in the financial year 2019-2020.
In addition, a Tamil Nadu Startup Seed Grant Fund of approximately £5.5 million Rs 50 with an allotment of £500,000 in the first year shall be created in partnership with financial institutions and universities for supporting early stage financing requirements of the start-ups .
For more see: https://www.business-standard.com/