iTNT Innovation Network

Tamil Nadu is a powerhouse of technology, research, and entrepreneurship, and the Innovation Network serves as a one-stop resource to discover opportunities, form collaborations, and accelerate impact in the Deep and Emerging technologies on the global innovation landscape.

iTNT Hub’s Innovation Network connects academia, startups, incubators, SMEs, patent holders, and global collaborators, fostering a dynamic environment for the technological growth and advancement

Innovation thrives through partnerships, and iTNT has established strategic collaborations with leading national and international organizations through Memorandums of Understanding (MoUs). These partnerships facilitate knowledge exchange, funding access, mentorship, R&D cooperation, and market expansion for startups and researchers in Tamil Nadu.

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:

  1. Pre-seed, seed rounds for incubation and initial product development
  2. 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

  1. Compulsory Convertible Preference Shares (CCPS)
  2. 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

  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%.

Tamil Nadu Technology Hub (iTNT)