Call for

Innovation Voucher Program

Organisation Name:

Entrepreneurship Development and Innovation Institute (EDII Tamil Nadu)

Application Deadline:

Ongoing

About Organisation

The Innovation Voucher Program (IVP) is a flagship initiative by the Entrepreneurship Development and Innovation Institute (EDII Tamil Nadu), aimed at fostering a culture of innovation and research among Micro, Small, and Medium Enterprises (MSMEs) and start-ups in Tamil Nadu. With Vel Tech Technology Business Incubator (Vel Tech TBI) as the Knowledge Partner, this program provides essential funding support to transform innovative ideas into practical solutions and market-ready products. EDII-TN, under the aegis of the Tamil Nadu State Government, is committed to building an innovation-driven entrepreneurial ecosystem by facilitating collaboration between industries and knowledge institutions. The program seeks to bridge the gap between idea conceptualization and commercialization, empowering MSMEs to contribute effectively to socio-economic development across various critical sectors such as agriculture, environment, health, deep technology, and engineering.

About the Grant

The Innovation Voucher Program (IVP) offers financial assistance to support the journey of innovation from idea development to market entry. This program provides two types of vouchers: Voucher A, with funding support of up to ₹2 lakh, is aimed at helping start-ups and MSMEs develop their innovative concepts into working prototypes. Voucher B, offering up to ₹5 lakh, focuses on assisting innovations that are ready to enter the market with commercialization support. The initiative is designed to encourage research and product development across domains such as energy, nano-technology, electronics, waste management, and more. By promoting industry-academia collaboration, the IVP helps Tamil Nadu-based enterprises reduce their innovation risks and accelerate the development of cutting-edge solutions that address real-world challenges.

Who can Apply?

The program is specifically designed for Tamil Nadu-based manufacturing MSMEs that are passionate about innovation and product development. To be eligible, applicants must fulfill a few essential requirements. Firstly, the applying enterprise must be registered and operational within Tamil Nadu. Secondly, the applicant must have a credit score (CIBIL) of 750 or higher, reflecting financial credibility and responsibility. Additionally, applicants must be willing to co-finance the proposed project in accordance with IVP norms, showing a commitment to the shared development process. It is also important that the applying MSME has not previously entered into a contract with any Knowledge Partner associated with the IVP. These criteria ensure that the funding is directed toward new and deserving enterprises, encouraging fresh ideas and untapped potential across priority sectors like agriculture, energy, health, and more.

How to Apply?

Interested MSMEs can apply by submitting their application through the appropriate channel of EDII-TN. Applicants should ensure all eligibility criteria are met before initiating the process.

Application Deadline

The application window is open on an ongoing basis, with no fixed end date, allowing interested enterprises to apply at their convenience.

Last Date To Apply
Since the deadline is ongoing, applications are accepted year-round until further notification by the organizing body.

Grant Amount
Funding support includes ₹2 lakh under Voucher A for prototype development and ₹5 lakh under Voucher B for commercialization efforts.