Startup TN, Guidance jointly launch EV forum to raise funds for new firms

Chennai, July 4 (KNN) The Tamil Nadu Startup and Innovation Mission (Startup TN) and Guidance Tamil Nadu jointly launched an Automotive, Electric Vehicle and Smart Mobility Forum on Monday.

The EV forum aims at supporting companies working in electric and smart mobility space to raise funds and collaborate in research and development. 

Vishnu Venugopal, managing director and CEO of Guidance said, “This has been done to improve synergy and bring government organisations and multiple stakeholders under one umbrella.”

“There are large players in the startup ecosystem. Startups are playing an important role in research in batteries, technologies such as motors among others.While startups are not eligible for research and development incentives and other incentives from state government, it makes sense for them to leverage these policies when they pitch to investors at an early stage,” he said.

Sivarajah Ramanathan, CEO of Startup TN, said it is essential to connect various stakeholders like large corporates, incubators, academia, R&D centres, investors and government departments with startups. 

Startup TN plans to form 45 vertical forums across industries starting from a circular economy forum and followed by new verticals every month.

It also plans to launch TANFUND, an aggregator of venture capital funds.   (KNN Bureau)