Sipcot is the Industrial Development Corporation of Tamil Nadu Government. It is implementing various schemes for the development of start-up companies. One of them is Industry Innovation Grant Scheme. Under this scheme, start-up companies and innovators can get funding to implement their new innovations.
Under this scheme, start-up companies can get funding under the following two categories
Manufacturing stage companies: In this category, start-up companies can get financing to purchase capital, machinery, tools, etc. required to manufacture their products. Under this category, maximum financial assistance of Rs 10 lakh per organization will be provided.
Development stage companies: In this category, start-up companies can get funding to market their products, reach new markets, develop new technologies, etc. Under this category, maximum financial assistance of Rs 20 lakh per company will be provided.
Start-ups who want to apply for this program should fill and submit the application form available on the ChipCot website. Applications will be accepted online only. Last date for receipt of applications is 31 January 2024.
Those who need funding should send their ideas to ChipCot. , the top 10 will be selected and sponsored by ChipCot’s top team.
For more information, visit ‘https://sipcot.tn.gov.in You can find out on the website.
By providing financial support to start-up companies, ChipCot is contributing to industrial development in Tamil Nadu.
