Innovation Voucher Program

• Tamil Nadu startups in deeptech, manufacturing or cleantech seeking innovation vouchers.

About this scheme

The Innovation Voucher Programme (IVP), supported by EDII-TN and facilitated by iTNT Hub, offers crucial grant support aimed at assisting startups and MSMEs in Tamil Nadu. The iTNT Hub, also known as the Tamil Nadu Technology Hub, is a key state-backed entity driving technological advancement and innovation within Tamil Nadu. EDII-TN, the Entrepreneurship Development and Innovation Institute of Tamil Nadu, plays an instrumental role in promoting entrepreneurship and building a robust innovation ecosystem across the state. Both organizations are committed to fostering economic growth and technological self-reliance through targeted initiatives like the IVP.

This program is structured to provide financial grants that enable early-stage ventures to progress from conceptual ideas to tangible prototypes, and subsequently, from prototypes into commercially viable products. This comprehensive support aims to de-risk early-stage development and accelerate market entry for innovative hardware solutions. A co-financing requirement is integral to the program, where applicants must be willing to match a portion of the investment as per IVP norms. This collaborative funding model fosters greater commitment from applicants. A 10% success fee is applicable, but only upon the successful disbursal of the grant by EDII-TN, ensuring no upfront charges are incurred for the grant itself, aligning the program's success with that of its grantees.

Grant funds can be utilized for activities essential to product development, rigorous testing, and effective market entry. This includes R&D expenses, specialized equipment procurement, patenting costs, market research, and pilot project implementation, supporting the transition across various development stages. Beyond monetary aid, the iTNT Hub extends invaluable expert guidance and mentorship. This support helps applicants strengthen their proposals, refine business models, and enhance their overall readiness, significantly improving their prospects of securing funding for innovative projects within the specified hardware-based focus sectors.

Who can apply

• Startups and MSMEs officially registered and operating within Tamil Nadu are eligible to apply. This geographical focus ensures the program directly supports the state's economic development and local innovation ecosystem.
• Applicants must be operating in hardware-based technology sectors. This specific focus aligns with Tamil Nadu's strategic intent to bolster its manufacturing capabilities, promote deep-tech innovation, and build a strong foundation in hardware design and production, which typically require targeted support.
• Willingness to co-finance the investment according to IVP norms is a mandatory criterion. This co-financing can involve cash contributions, in-kind resources, or verifiable existing investments, demonstrating the applicant's commitment and ownership of the project. Specific co-financing details will be outlined in the program guidelines.

Eligible entity types: Private Limited, LLP, Partnership, Proprietorship

Benefits & funding

• Financial grants for prototype development and commercialization, covering R&D, equipment, patenting, market research, and pilot projects.
• Expert guidance and mentorship from iTNT Hub are also provided to strengthen proposals, refine business models, and enhance readiness for funding.
• There are no upfront charges for the grant itself, with a 10% success fee only upon disbursal.

How the application process works

The journey below is informational, compiled from the official program guidelines. Applications are submitted directly with Tamil Nadu Technology Hub (iTNT Hub), in your own name.

1. 1

   Applications are submitted through the program's online portal with required startup and innovation details.

2. 2

   Applications undergo evaluation by the program team for innovation merit and stage eligibility.

3. 3

   Approved startups receive a non-dilutive voucher grant to support prototype development or product scaling under the applicable voucher track.

Frequently asked questions