Tamilnadu Technology Hub (iTNT)

iTNT Foundation Fund

iTNT Hub launched FOUNDATION (Financing Opportunities for Unleashing Deep Tech Advancements & Transformative Innovations) Fund to support TN-based Deep and Emerging Tech startups. It was launched by the Hon’ble Minister for Information Technology & Digital Services Dr. Palanivel Thiaga Rajan at Umagine TN 2025.

Through this fund, startups in the focus sectors would get supported by iTNT with a seed fund of up to Rs. 40 lakh per venture. This fund also aims to bring together angel investors, HNIs’, institutional VCs to create the Foundation Network to support the innovation ecosystem of TN.

Focus Areas

The iTNT FOUNDATION Fund aligns with the focus areas of iTNT Hub, as notified from time to time. As on the release of the document, the focus areas are as below:

Technologies

AI/ML

AR/VR

IoT

Robotics

Sectors

Creative Tech (AVGC+)

Climate Tech

Smart Cities & Transportation

Healthcare and Lifesciences

Geospatial Technologies

Space Tech

Cybersecurity

EV

Sustainable Energy

SaaS

Investment Stages

Through FOUNDATION Fund, iTNT Hub aims to invest in:

Pre-seed, seed rounds for incubation and initial product development
Pre-series A for acceleration, final product development and market entry

Investment Mode

Through this fund, iTNT Hub aims to invest up to INR 40 lakh as

Compulsory Convertible Preference Shares (CCPS)
Direct equity.

1.CCPS

Compulsorily Convertible Preference Shares is a form of hybrid financial instruments, which are initially preference shares that, under the provisions of a mutually agreed-upon time, convert into equity shares of the company.

2.Direct Equity

The valuation of the startup and the terms of the investment would be decided on a case-to-case basis, with due-diligence undertaken be external vendors as empanelled with other investors or GoTN departments.

Application Process

Applications would be received in conjunction with the PATHFINDER incubation & iAccelerate acceleration programs of iTNT Hub. No separate application would be entertained.

Eligibility Criteria

The entity should be registered in Tamil Nadu and registered as a Private Limited Company (under Companies Act 2013). In case the company is not registered as a Pvt Ltd Company, 30 days would be provided for the startup to convert to a Pvt Ltd company.
The venture should work towards innovation, development or improvement of products or processes with a high potential of employment generation or wealth creation.
The entity should not have been formed by splitting up, reconstruction of a business already in existence or as a Subsidiary/Joint Venture/Associate of another Company.
Applicant must be an Indian startup. This support is not meant for Indian Subsidiaries of MNCs/Foreign Companies. Persons holding Overseas Citizenship of India (OCI) and Persons of Indian Origin (PIO) would be considered as Indian citizens for the purpose of this scheme. The shareholding by Indian promoters in the Startup should be at least 51%.