Technology Incubation and Development of Entrepreneurs (TIDE-2.0) Scheme
Technology Incubation and Development of Entrepreneurs (TIDE-2.0) Scheme
The Ministry of Electronics and Information Technology (MeitY), Government of India launched the Technology Incubation and Development of Entrepreneurs (TIDE 2.0) program. Under this scheme, Government provides fellowship/ grant for an aspiring entrepreneur to promote tech entrepreneurship through financial and technical support in seven pre-identified areas of societal relevance. The present article briefs the TIDE-2.0 scheme in detail.
The objective of the TIDE-2.0 scheme
The Technology Incubation and Development of Entrepreneurs (TIDE-2.0) aim to strengthen 2000 Technology Startups, leveraging ICT-enabled technologies, in selected areas of national concern.
Benefits of the TIDE-2.0 scheme
The salient features of the Technology Incubation and Development of Entrepreneurs (TIDE-2.0) scheme are listed as follows:
- TIDE-2.0 scheme is fostering and evangelizing a vibrant entrepreneurship ecosystem that inspires budding entrepreneurs as well as support existing ones
- This scheme will create entrepreneurship models of both financial as well as social value.
- The scheme also Provides holistic incubation support including co-working space, mentoring, and networking for startups.
- Technology Incubation and Development of Entrepreneurs (TIDE-2.0) provide financial support to 51 incubators and close to 2000 tech startups pan India.
- The financial support for startups will be provided Facilitate Intellectual property Rights filings
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Focus Area
The idea of the Technology Incubation and Development of Entrepreneurs (TIDE-2.0) Scheme was to facilitate emerging startups to come up with innovative technological solutions for societal issues in financial technology, healthcare, education, agriculture, environment, and clean energy, clean energy solutions, and other emerging tech areas.
Eligibility Criteria
The eligibility criterion for applying the Technology Incubation and Development of Entrepreneurs (TIDE-2.0) scheme is as follows:
- Any Individual/Startup/Student who has potential & innovative business ideas at TRL 3 can apply for the program
- As mentioned above, Technology-based startups using emerging technologies like IoT, AI/ML, Block Chain, Robotics, etc for below mentioned thematic areas are eligible for the scheme:
- Healthcare
- Education
- Agriculture
- Financial inclusion including digital payments
- Environment and cleantech
- Clean energy solutions
Note on MeitY Startup Hub and TIDE
To link startups, innovators, experts, technology companies, and investors through a single chain, the Union Ministry of Electronics and Information Technology launched the MeitY Startup Hub sometime back.
Under the program, the ministry provides support to incubation centers under TIDE, financial support to MSMEs and Technology Startup units for international patent filing, and conducting technology challenges. The MeitY Startup Hub (MSH) gives facilities such as testing, research, connecting angel investors to startups, and industry support.
TIDE Incubation Centers
TIDE incubation centers are a link between the administration and a common man or an organization that has an innovative idea to either start a business or expand its existing tech firm.
The TIDE 2.0 Incubation Centers
The TIDE 2.0 incubation centers are institutions of higher learning and R&D organizations having incubation facilities and established linkages with large companies, industry bodies, and industry clusters so that they can nurture a small idea or a startup into a large corporate organization.
The TIDE 2.0 centers are divided into three groups.
Group 1 centers
The Group 1 centers offer deep support to startups including mentoring, capacity building, and industry linkages for furthering investment avenues, and also support Group 3 centers. There are six centers in Group 1; all are located in academic institutions namely, IIM Ahmedabad, IIIT Hyderabad, IIM Calcutta, IIT Kanpur, and IIT Bombay.
Group 2 centers
The Group 2 centers facilitate aspiring entrepreneurs and students to build high-quality startups and also nurture and handhold G 3 centers. These centers are spread out across private and smaller government academic institutions and universities across India. Some of the incubation centers are KIIT Technology Business Incubator, KIIT University, Bhubaneswar, Vellore Institute of Technology – Technology Business Incubator (VITTBI), and AIC – Pinnacle Entrepreneurship Forum, Pune.
Group 3 Centers
Group 3 Centers (G3C) will initiate and evangelize innovation and entrepreneurship ecosystems in unexplored regions. These will typically be incubators that are recently established in academic institutes Group 3 Centers will initiate and evangelize entrepreneurship and innovation activity in regions with absent/ dormant ecosystems. It is proposed that 20 such incubators be selected as G3Cs.
Application Procedure
Every incubator has a certain number of seats. A person can apply for the Entrepreneur-in-Residence program as mentioned on the websites of various The TIDE 2.0 Incubation Centers.
