Chitkara University incubated start-up receives a Scale-up investment of ₹ 38.5 Lakhs under TIDE 2.0 by MeitY

Anukai Solutions Pvt. Ltd-a startup incubated at CIIF, Chitkara University has received a Scale-up investment of ₹ 38.5 Lakhs under TIDE 2.0 by MeitY. CIIF is recognised by the Ministry of Electronics and Information Technology, Government of India, and is amongst the only 20 TIDE Group 2 Centers (G2C) in India. For the past six years, Chitkara University has been actively building and nurturing the start-up ecosystem in the region and supporting the entrepreneurs in scaling and accelerating their startups.

Anukai is an Urban Mobility startup that provides AI-based Smart Traffic Management & Road Infrastructure planning solutions that help to decongest roads and provide real-time traffic movement insights to potential businesses. They have raised 40 lakhs as seed investment in February 2020 and have generated revenue worth 18 lacs in 2019-2020.

The Technology Incubation and Development of Entrepreneurs (TIDE 2.0) program has been launched by the Ministry of Electronics and Information Technology (MeitY), Government of India. The programme aims to strengthen 2000 technology startups, leveraging ICT enabled technologies in selected areas of national concern, e.g. healthcare, education, agriculture, financial inclusion including digital payments, infrastructure and transportation, environment and clean tech, clean energy and other emerging areas.

The Scheme will be implemented through empowering 51 incubators in India and handholding close to 2000 tech start-ups over a period of 5 years. The scheme envisions creating a holistic ecosystem to support technology startups and incubation centres through identifying and creating necessary linkages.

The salient features of the program include fostering and evangelising a vibrant entrepreneurship ecosystem that inspires budding entrepreneurs as well as supports existing ones, creating entrepreneurship models of both financial as well as social value, providing holistic incubation support including co-working space, mentoring, and networking for start-ups, and providing financial support to 51 incubators and close to 2000 tech startups across India. The financially supported start-ups will also be provided Facilitate IPR filings.