Synopsis ​​​​​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. ETtech 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. "Investment in the form of equity is aimed at helping the startups through proper guidance to reach their milestones and soar to greater heights," the government said in an official release. The fifth edition of TANSEED aims at benefitting 50 startups in the form of equity investments. TANSEED aims at bridging the gap in fund requirements of startups in their early states and the seed fund provides support of up to Rs 15 lakh to green technology, rural impact and women-led ventures. Minister for Micro, Small and Medium Enterprises T M Anbarasan had announced in the assembly earlier that Rs 10 crore would be provided to 100 startups under this initiative. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories According to the release, startups who seek to benefit from TANSEED should work towards innovation, development or improvement of products with a high potential of employment generation. The startup should be headquartered in Tamil Nadu and registered with the department of promotion of industry and internal trade. Many beneficiaries of TANSEED in its previous editions have recorded growth and raised venture capital funds from prominent investors, the government said. Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. click here! Sunday, 26 Feb, 2023 Experience Your Economic Times Newspaper, The Digital Way! Read Complete Print Edition » Front Page Pure Politics Bottom line Deep Dive More G20 Fin Meet Ends Without Communique The G20 meeting of finance ministers and central bank governors ended Saturday without a communique as Russia and China opposed any reference to the war in Ukraine — a chair summary was issued instead — but managed to make headway in resolving the debt of vulnerable countries as well as reform of multilateral development banks. US Keen to Deepen Ties with India in Tech Sector: Yellen Terming India as its trusted trading partner, US treasury secretary Janet Yellen on Saturday backed “friend-shoring” to bolster the resilience of supply chains, which was showing progress with Apple and Google expanding their production in the country. India Asks IMF, FSB to Prepare Technical Paper on Crypto Assets India, which is currently holding the G20 Presidency, has tasked the International Monetary Fund and the Financial Stability Board (FSB) with jointly preparing a technical paper on crypto assets. Read More News on tanseed tamil nadu startups seed funding tamil nadu startup seed fund Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox. . . . more less ETPrime stories of the day Investing Adani fiasco, interest rates, geopolitical tensions: why 2023 will be a tough year for investors 6 mins read Investing Adani Group stocks: Will averaging out work for retail investors? 10 mins read Investing Macquarie’s double upgrade has sparked some interest in Paytm stock. Should you buy? 7 mins read Subscribe to ETPrime.