Tamil Nadu Emerging Sector Seed Fund (TNESSF) for Indian Startups
Tamil Nadu Emerging Sector Seed Fund (TNESSF) for Indian Startups
The Tamilnadu government is calling for applications from Indian Startups for investment from the Tamil Nadu Emerging Sector Seed Fund (TNESSF) was announced in the state budget in March. This Rs.50 crore fund has been established to invest in both startups and other enterprises that are working in sunrise/emerging sectors. The fund is being managed by Tamil Nadu Infrastructure Fund Management Corporation.
Click here for more details on Startup India Seed Fund Scheme (SISFS)
Objective of TNESSF
The primary objective of the Tamil Nadu Emerging Sector Seed Fund (TNESSF) is to invest in start-ups and undertakings in the sunrise/ emerging sectors.
Eligibility Criteria
The eligibility criteria to apply for the Tamil Nadu Emerging Sector Seed Fund (TNESSF) scheme are as follows:
Eligibility Criteria for Startups
- The startup applying for the fund should be a company established under the Companies Act, 2013, or a limited liability partnership registered under the Limited Liability Partnership Act, 2008.
- To avail of the fund, the startup should be headquartered in Tamil Nadu or be willing to relocate to Tamil Nadu.
- Only the startups working towards the innovation, development, or improvement of products or processes in any sector are eligible to apply for the fund
- The startup should be in existence for less than ten years from the date of its incorporation.
- Turnover of the startup for any of the financial years since incorporation has not exceeded Rs. 25 Crores.
Eligibility Criteria for Non-startups
- Companies established under the Companies Act, 1956/ 2013 can apply for this scheme
- As mentioned above campiness Should be headquartered in Tamil Nadu or be willing to relocate to Tamil Nadu or have significant operations in Tamil Nadu can apply for the fund
- The company should be working towards innovation, development, or improvement of products or processes in the following emerging sectors:
- AI/ML and Cloud Computing
- Advanced Manufacturing/ Robotics
- Blockchain, Cyber Security, and IoT
- AR/VR and AgriTech
- HealthTech and EdTech,
- Climate Action and FinTech,
- CleanTech, Future of Work, Gaming, and AdTech
Other emerging sectors listed in the TN Industrial Policy are also eligible to apply for the fund
TimeLine for Submit Application
There is no deadline for the submission of applications.
However, the first batch of evaluations will cover proposals received till 30th May 2022.
Application Procedure
The application procedure for (TNESSF) is as follows:
- Interested applicants may send their proposals to [email protected].
- There is no prescribed template for the submission of applications. Applicants may email their written proposals containing information About the Company, About the BusinesTamil Nadu Emerging Sector Seed Fund (TNESSF) s/ Revenue Model, the Funding Requirement, and the Use of the funds.
- Tamil Nadu Infrastructure Fund Management Corporation Limited would revert to applicants for any further information.
- Shortlisted applicants would be invited for direct interactions in a multi-staged selection process
