Sat. May 25th, 2024
Federal Bank - Salem, Gugai Branch, Tamil Nadu

Tamil Nadu, Chennai, 24 February 2023: Federal Bank, one of India’s leading banks, TANSIM, the Tamil Nadu Government’s startup initiative, and MindEscapes Innovation Center, Nilgiris, are collaborating to back start-ups in Tamil Nadu. The partnership aims to provide Tamil Nadu startups with loans and grants from Federal Bank, identified by TANSIM and pitched through sessions curated and run by MindEscapes® Knowledge Partners, across various centers in the state.

This partnership offers startups a variety of resources and support to aid in their growth and success. The ultimate goal is to support the Tamil Nadu government’s vision of becoming a leading state for innovative startups across all sectors.

“We are ecstatic about joining forces with Federal Bank and MindEscapes® to support startups in Tamil Nadu,” stated Sivarajah Ramanathan, TANSIM’s CEO. “By providing access to capital and other essential resources, we can assist startups in taking their businesses to new heights and spur innovation in the state.”

“Our partnership with TANSIM represents our commitment towards young firms which are strengthening our economy and are creating employment opportunities. We are hopeful that this will give tailwind to more innovation in the country,” said Shyam Srinivasan, MD & CEO of Federal Bank.

“At MindEscapes®, our mission is to help individuals and teams unlock their full creative potential,” said Dipali Sikand, MindEscapes®’ founder. “We are thrilled to be collaborating with Federal Bank and TANSIM to help Tamil Nadu startups to develop and present their ideas, increasing their chances for success. To facilitate this vision we have strategic knowledge partnerships with powerhouses of intellects we call our Board of Guardians, as well as a partnership with the premier Innovation Solution Organization, KPMG “.

The partnership offers various services including:

  •  Collateral-free loans, lower-cost loans, and grants to eligible startups basis Federal Bank’s lending policies.
  •  Curated pitch sessions and workshops
  •  Access to a network of industry experts and potential investors
  •  Opportunities for startups to work on real-world projects and increase their ideas’ visibility

This partnership targets startups across all sectors and will aid in the state’s efforts to foster innovation, create jobs, and drive economic growth in Tamil Nadu.

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