CHENNAI: StartupTN, the state’s nodal agency for startups and innovation, has opened applications for the Tamil Nadu Space Tech Fund (TNSTF), a `10-crore programme for 2025-26 structured as a 1:1 matching equity fund for early-stage space technology ventures.

Under the scheme, eligible startups must first secure confirmed third-party investment — from angel investors, venture capital firms, institutional partners or corporates — which the fund will then match rupee for rupee, subject to a cap of Rs 50 lakh per company.

Funding will be deployed as equity and released in tranches linked to clearly-defined milestones. An expert committee will evaluate applications and recommend firms for support, with disbursements contingent on verification and compliance with scheme guidelines.

Applicant startups must be registered in TN and recognised by the department for promotion of industry and internal trade, a release said.

To avoid misuse, the scheme excludes entities formed through the splitting or reconstruction of existing businesses, as well as subsidiaries, joint ventures or associates of other companies. Indian subsidiaries of foreign or multinational firms are also ineligible, it added.

Applications are being accepted online through StartupTN’s portal, with detailed guidelines and eligibility conditions available on its website. Queries related to the scheme can be addressed to spacetech@startuptn.in