CHENNAI: StartupTN has invited applications from space-technology startups in the State for the Tamil Nadu Space Tech Fund (TNSTF), a matching equity fund where the State invests an equal amount alongside private investors.
Under the scheme, startups that have secured confirmed external funding from angel investors, venture capital firms, institutional partners or corporates will be eligible for matching support from the State, capped at Rs 50 lakh per startup. The state government has allocated Rs 10 crore for the implementation for the 2025–26 financial year.
The fund covers startups working in areas such as satellite systems, launch technologies, ground infrastructure, space data analytics, robotics, artificial intelligence, propulsion systems and allied applications.
Eligible applications will be assessed by an expert committee, which will recommend startups for support. Fund disbursal will be milestone-based and released in tranches.
Startups applying for the fund must be registered in Tamil Nadu and recognised by the Department for Promotion of Industry and Internal Trade (DPIIT). The fund can be utilised for activities including prototype development, product engineering, testing and other efforts leading to commercial deployment.
Entities formed through the splitting or reconstruction of existing businesses, subsidiaries, joint ventures, associates of other companies and Indian subsidiaries of foreign or multinational firms are not eligible. Applications can be submitted online through StartupTN's portal.