iTNT Hub launched FOUNDATION (Financing Opportunities for Unleashing Deep Tech Advancements & Transformative Innovations) Fund to support TN-based Deep and Emerging Tech startups 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.
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:
Through the FOUNDATION Fund, iTNT Hub aims to invest at two key growth stages
Rounds for incubation and initial product development
For acceleration, final product development and market entry
Through this fund, iTNT Hub aims to invest up to INR 40 lakh as
Hybrid shares converting into equity after agreed period
Valuation and terms decided case-by-case with due diligence.
SpaceTug
Setler Ecopolymer
Likan Cleancell
Scrapify
Imrobonix
Acrofluidic Innovations
Applications would be received in conjunction
with the PATHFINDER incubation &
iAccelerate acceleration
programs of iTNT Hub.
No separate application would be entertained.
1. 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.
2. The venture should work towards innovation, development or improvement of products or processes with a high potential of employment generation or wealth creation.
3. 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.
4. 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%.
We thank iTNT Hub for believing in our vision and supporting our journey. Receiving the initial grant support of 10 Lakhs via Foundational Grant Funds has helped us in advancing product development, strengthening our intellectual property efforts, and exploring product innovation opportunities. Beyond funding, the mentorship, investor connections, grant facilitation & training programs provided have been valuable for founders like us coming from a purely academic and research background.
A defining milestone in our journey was becoming the first startup to receive the Rs.10 lakh Foundation Fund support through iTNT from the Government of Tamil Nadu. Beyond funding, the mentorship, networking opportunities, and ecosystem support provided through various programs significantly strengthened our product. These interventions helped us generate INR 1.1 lakh in early-stage revenue, unlocking the potential to convert 0.45 tonnes of plastic waste. This has positioned us strongly in advancing indigenous material innovation from Tamil Nadu.
Receiving 10 Lakh funding has been a significant milestone in our startup journey. The support from iTNT Hub has helped us strengthen our research and development activities, accelerate innovation in our battery technology, and move closer towards commercialization.
iTNT Hub’s Foundation Fund of Rs.15L helped us complete our prototype. Their hardware lab and fabrication lab is spacious and can be used to build various devices. The best part is the coworking space and labs are open 24 x 7. This is something any founder would love to have and the cost of using it is also subsidised.
The Foundation Fund is an investment initiative intended to support promising Deep Tech and Emerging Tech startups associated with the iTNT ecosystem.
The fund is expected to primarily support early-stage and growth-stage startups with strong innovation and scalability potential.
Priority sectors include Deep Tech, AI, manufacturing innovation, climate tech, biotechnology, and frontier technologies.
Yes, but only lead investors. The structure is intended to encourage collaboration between angel investors, venture capital firms, and institutional investors.
Startups are typically evaluated based on innovation, scalability, founder capability, market opportunity, and strategic alignment with Deep Tech objectives.
Investors can engage through syndication opportunities, startup referrals, event participation, and co-investment discussions.
Tamil Nadu Technology (iTNT) Hub
3rd Floor, Sir C V Raman Science Block, Anna University Campus, Kotturpuram, Chennai, Tamil Nadu, India – 600025 044 29887718 | office[at]tnthub[dot]org