Chitkara Innovation Incubator Foundation, Chitkara University,Chandigarh in collaboration with Ministry of Electronics and Information Technology (MeitY) has set up a TIDE Incubation Centre under TIDE 2.0 Scheme.
TIDE 2.0 GRANT
The program mainly targets a valid 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.
The MEITY TIDE-Grant support recipient will be eligible to grant maximum of ₹ 700, 000/-
Program Timeline: 12 months (May be extended to 18 months in special cases with approval from the committee)
To promote tech entrepreneurship through financial and technical support to incubators engaged in supporting ICT startups using emerging technologies such as IoT, AI, Block-chain, Robotics etc. in pre-identified areas of societal relevance.
Eligibility Criteria & preferences
- The applicant must have completed the basic graduation in Basic Sciences/ Engineering/ Biotechnology/ Medicine/ Law etc. as on the date of accepting Grant.
- The applicant should be citizen of India with possession of a government approved proof of nationality such as a valid passport, voter’s id etc.
- The innovator must be under the age of 35.
- The applicant may be individual innovator or a nascent startup (less than 2 years old as on the date of application)
- The applicant (if not a startup) must be willing to incorporate a company within 3 months of the acceptance of TIDE 2.0 Grant.
- 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.
- Company should have annual turnover not exceeding Rs. 25 lakhs for any of the financial year since its inception
- IP generated would vest with the start up
Evaluation Parameter and Preferences
- Uniqueness (How the idea is different from the existing solutions in the market?)
- Impact (How the problem and solution you are addressing is relevant to society?)
- Proof of Concept (Does it has a PoC to develop a prototype?)
- Time Frame (Can the project be completed in the given time frame?)
- Sustainability (Is the innovation sustainable technically as well as in the market for a longer period of time?)
MEITY TIDE 2.0 Grant can however be not used for/by:
- Innovators/ start-up who do not/will not own the project know-how/IP.
- Funding research student/internship in academic institution or R&D organization.
- Innovators/team/start-up who is already supported once under MEITY TIDE.
- Innovators who do not have the necessary NOC on IP, granting sufficient time to work on TIDE project from their respective organization/institution/College.
- Innovator supported under MEITY-EIR in parallel with MEITY-Grant.
- Innovators who do not have a roadmap/will towards commercialization.
- Ideas purely relating to Software/App development.