Tamil Nadu News

Co-creation Fund

September 22 , 2023 1104 days 1965 0

The government of Tamil Nadu will set up a ₹100 crore ‘Co-creation Fund’.
It is a unique model designed to participate in private sector venture capital (VC) funds.
This fund is to be managed by investors and coordinated by The Tamil Nadu Startup and Innovation Mission (Startup TN).
It is inspired by the Yozma (meaning ‘initiative’) model, established by the Israeli Government in the 1990s.
It aims to kick-start innovative industries by investing in new venture capital funds.
The State government will contribute 40% (with a ceiling of ₹10 crore) in regional, rural impact, women and climate action-focused funds.
20% government contribution for (with a ceiling of ₹5 crore) in other thematic funds promoted by the private sector.