Innovation Voucher Program

The Innovation Voucher Programme (IVP) is a grant initiative for startups and MSMEs in Tamil Nadu, supported by EDII-TN and facilitated by iTNT Hub. iTNT Hub, or the Tamil Nadu Technology Hub, is a state-backed entity focused on technological advancement in the state. EDII-TN, the Entrepreneurship Development and Innovation Institute of Tamil Nadu, works to promote entrepreneurship and strengthen the innovation ecosystem. Both organisations aim to support economic growth and technological self-reliance through initiatives such as the IVP.

The programme provides financial grants to help early-stage ventures move from conceptual ideas to tangible prototypes, and then from prototypes to commercially viable products. This support is intended to reduce the risk of early-stage development and speed up market entry for innovative hardware solutions. Applicants must meet a co-financing requirement, matching a portion of the investment as per IVP norms. A 10% success fee applies only after the grant is disbursed by EDII-TN, so there are no upfront charges for the grant itself.

Grant funds may be used for product development, testing, and market entry activities. Eligible expenses include R&D costs, specialised equipment procurement, patenting, market research, and pilot project implementation. In addition to funding, iTNT Hub offers expert guidance and mentorship to help applicants strengthen proposals, refine business models, and improve readiness for securing funding in the specified hardware-based focus sectors.

The application for the Innovation Voucher Program (IVP) is generally submitted via an online portal, which is reached through the application URL provided. Applicants must fill out a comprehensive form that covers their startup/MSME, the proposed hardware project, its current development stage, market potential, team composition, budget, and co-financing arrangement. Once submitted, the application goes through a multi-stage evaluation conducted by a panel of specialists from iTNT Hub and EDII-TN, involving technical assessments and checks on business viability. Shortlisted candidates may be asked to give presentations or attend interviews. iTNT Hub provides assistance to applicants in refining their submissions. Those who are successful move on to a due diligence stage, after which a formal grant agreement is signed, and funds are released in instalments based on project milestones and the fulfilment of agreed objectives. Applicants are advised to monitor the official website and their email regularly for updates.

Applications are submitted via the programme’s online portal, along with the requisite startup and innovation particulars. The programme team then assesses each application on the basis of innovation merit and stage eligibility. Startups that are approved receive a non-dilutive voucher grant, intended to support prototype development or product scaling under the relevant voucher track.