ABOUT MEITY
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.
For more detail
Meity2.0-Brochure
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:
- Healthcare
- Education
- Agriculture
- 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)
TIDE 2.0 EIR
The main objective of the program is to nurture the students & startups innovation by validation and development of their idea. The program provides a support platform for the aspiring entrepreneurs to develop their innovation through a technology enabling environment having access to a fellowship grant of 4 lakhs, networks, mentors and other fellow entrepreneurs.
Email Id: veltechtbi@veltech.edu.in
Program Timeline: 12 Months
Eligibility Criteria & preferences:
1. The applicant must have completed the basic graduation as on the date of accepting EIR.
2. Must be physical incubate for entire idea development
3. The applicant should be citizen of India with possession of a government approved proof of nationality such as a valid Aadhar, passport, voter’s id etc.
4. The innovator must be under the age of 35.
5. TIDE 2.0 EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
6. The applicant must be has to register his/her own company within 3 months of the acceptance of EIR.
7. Preferences will be given to Woman entrepreneurs.
8. Preferences will be given to idea with a granted/published patent or atleast a provisional patent applied.
9. Preferences will be given for a well-structured dedicated team working towards the innovation.
TIDE 2.0 GRANT
The program mainly targets a valid Proof of Concept (PoC) to be transformed to prototype or a Minimum Viable Product (MVP) by providing ample opportunities and support in terms of product development assistance, access to technical experts and mentoring. Thus the program provides facility for the development of PoC/ready product thus bridging the gap between idea and prototype funding.
Program Timeline: 12 months (In Special cases may be extended to 18 months with approval from the committee)
Eligibility Criteria & preferences:
1. The applicant must have completed as on the date of accepting Grant.
2. The applicant should be citizen of India with possession of a government approved proof of nationality such as a valid Aadhar, passport, voter’s id etc.
3. The innovator must be under the age of 35.
4. The applicant may be individual innovator or a nascent startup (less than 2 years old as on the date of application)
5. The applicant (if not a startup) must be willing to incorporate a company within 2 months of the acceptance of TIDE 2.0 Grant.
6. TIDE 2.0 Grant support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs.
7. Preferences will be given to Woman entrepreneurs.
8. Preferences will be given to idea with a granted/published patent or atleast a provisional patent applied.
9. Preferences will be given for a well-structured dedicated team working towards the innovation.
Vel Tech TBI will provide Conducive infrastructure and necessary mentoring, co-working space, lab & infrastructure, workshop facilities, utilities, support services, pre-incubation services, networking, financing through VC/Angel and most importantly, provide mentoring support to selected Entrepreneurs/Start-ups on demand.
