To promote e-Governance for empowering citizens, promoting the inclusive and sustainable growth of the Electronics, IT & ITeS industries, enhancing India’s role in Internet Governance, adopting a multipronged approach that includes development of human resources, promoting R&D and innovation, enhancing efficiency through digital services and ensuring a secure cyber space.
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About TIDE 2.0
Under the MeitY Startup Hub, Technology Incubation and Development of Entrepreneurs (TIDE) is a scheme for strengthening close to 2000 Technology Startups in selected areas of national priorities by leveraging emerging technologies and empowering. The eight areas of national concern have been identified as Healthcare, Education, Agriculture, Financial inclusion including digital payments, Infrastructure and transportation, Environment and cleantech, clean energy, and other emerging areas.
Promotion of tech entrepreneurship through financial and technical support to startups engaged in supporting ICT startups using emerging technologies such as IoT, AI, Block-chain, Robotics etc. in eight (08) pre-identified areas of societal relevance.
Financial support in the form of Entrepreneur-in-Residence (EIR), Grants and Investments are to be provided to startups.
Vel Tech TBI is Approved TIDE 2.0 Centre by Ministry of Electronics and Information Technology (MeitY). Vel Tech-MeitY TIDE 2.0 is a scheme to promote tech entrepreneurship through financial and technical support.
Salient Features of the Scheme
Vel Tech MeitY TIDE 2.0 aims to train its focus primarily (but not limited to) on technology based entrepreneurship support through use of emerging technologies like IoT, AI, Block-chain, Robotics etc. for eight select thematic areas based on national priorities particularly in the realm of:
Financial inclusion including digital payments
Infrastructure and transportation
Environment and clean tech
Clean energy solutions
Other emerging areas (flexibility to support tech startups to address societal challenges in ICTE areas)
Broadly, Vel Tech MeitY TIDE 2.0 has two kinds of financial support available for the startups. One startup may apply only for one position either EiR or Grant
A) Entrepreneur-in-Residence (EiR) to the tune of Rs. 4 Lakh per start up for Validation and development of their Idea to have a Proof-of-Concept (POC).
B) GRANTS to the tune of Rs. 7 Lakh per startup nascent start-ups having a definite proof of concept which are to be further developed into Minimum Viable Products (MVP)