ENA State 2022-09-19 09:55:10 <p><span style="font-size:14px"><strong>Chennai, Sept 19 (KNN)</strong> The Tamil Nadu government will soon launch the Angel Investor Network with the aim to attract investments for the TN startups.</span></p> <p><span style="font-size:14px">Speaking about the upcoming Network, Tamil Nadu Startup and Innovation Mission (TANSIM) CEO Sivarajah Ramanathan said the aim is to get global high net-worth individuals to invest in TN startups. The network will also target domestic investors.</span></p> <p><span style="font-size:14px"><strong><a href="https://bit.ly/3B9mZSj"><img alt="FOLLOW US on GOOGLE NEWS" src="https://knnindia.co.in//uploads/gallery/GoogleNews.jpg" style="border-style:solid; border-width:1px; height:95px; margin:1px; width:299px" /></a></strong></span></p> <p><span style="font-size:14px">Startups dont require massive investment. Even Rs 10 lakh to Rs 25 lakh disposable income is enough for funding a startup, he said. </span></p> <p><span style="font-size:14px">The Tamil Diaspora body in the United States has promised to secure USD 5 billion investment for TN startups by 2025, the Indian Express reported.</span></p> <p><span style="font-size:14px">While answering a question on the scale of investment, Ramanathan said it is not a venture where one could have a clear number. It is individuals who come together and invest directly in companies. The government will act as a facilitator by bringing all stakeholders together, he said. </span></p> <p><span style="font-size:14px">We will start with the United States where we will work with multiple organisations with Tamil interest and Tamil entrepreneurship to partner with us. We have signed a Memorandum of Understanding (MoU) with American Tamil Entrepreneurs Association (ATEA), Ramanathan added. </span></p> <p><span style="font-size:14px">Lena Kannappan, co-founder of ATEA, said the association will make an announcement on the MoU with TANSIM at CATEALYZE 2022, a national entrepreneurs conference, to be held at the Bell Works at Holmdel in New Jersey on Saturday. </span></p> <p><span style="font-size:14px">ATEA will help curate startup ideas emerging from tier 1 and tier 2 cities of Tamil Nadu submitted by TANSIM through this MoU. <em><strong>(KNN Bureau)</strong></em></span></p> 30586 https://knnindia.co.in/news/newsdetails/state/tamil-nadu-to-soon-launch-angel-investor-network-for-startups 2022-09-19 09:55:10 knnindia.co.in