Applications are invited from Indian citizens for Cohort 2 of TIDE2.0 Program by The IIMV Foundation for Incubation Entrepreneurial Learning and Development (IIMV-FIELD).
Sponsoring Agency: IIMV Foundation for Incubation Entrepreneurial Learning and Development
Type of Fund: Grant
Deadline Date : 21 November 2021
Funding Amount : Less than USD $50,000
Ministry of Electronics and Information Technology (MeitY), Govt of India has initiated Technology Incubation and Development of Entrepreneurs (TIDE 2.0) Program. The objective is to promote tech entrepreneurship through financial and technical support to incubators engaged in supporting Information & Communication Technology Startups using emerging technologies such as IoT, AI, Block-chain, Robotics etc. in pre identified areas of societal relevance. The program is being implemented since 2019 through empowering 51 incubators across India and is expected to support 2000 tech start-ups over a period of 5 years. The program envisions creating a holistic ecosystem to support technology Startups and incubation centers through identifying and creating necessary linkages.
IIMV-FIELD is one of the 51 Tide Centers and is awarded G3 Center Status by MeitY. We are one of the 5 IIM’s and only third generation IIM to be executing the TIDE 2.0 Program in the incubation centers. The support available to Startups selected under TIDE2.0 Program is in two schemes:
• Entrepreneur-in-Residence (EiR) Scheme:
o Upto INR 4 Lakhs per Startup as grant for a year for validation and development of their idea to have a Proof-of-Concept (POC); along with incubation support.
• Grant Scheme:
o Upto INR 7 Lakhs per Startup as seed fund for a year to develop a Minimum Viable Product (MVP) from Proof of Concept (PoC); along with incubation support.
Focus Areas
The solution of the Startups should be Information & Communications Technology enabled serving a pressing problem across any one of these sectors – Agriculture, Clean Energy, Education, Environment and Clean Technology, Financial Inclusion including digital payments, Healthcare, Infrastructure and Transportation, Other emerging areas such as Fintech, Electric Mobility, Skill Development and Women Safety and Women & Children Nutrition, etc.
Opportunity for Startups
The following support will be provided for the selected Startups in EIR / Grant Schemes of TIDE2.0 Program at IIMV-FIELD
• Financial Support –As per the EIR / Grant Schemes mentioned above
Incubation Services –For a Period of 12 Months which includes
o Mentoring Support -from IIMV faculty, IIM alumni, Resident Mentors, successful entrepreneurs, domain experts, etc.; One to One/One to Many; Last Mile Mentoring and Consultation Support
o Networking Support -with Institutions, Labs, Organizations, Resource persons, Entrepreneurs, IIMV Clubs etc., Networking Events (Physical/Virtual) and Investor Connects. Access to IIMV-FIELD’s Ecosystem partners and Network Institutions.
o Capacity Development Programs-Access to Workshops, Master classes, Knowledge Series, Founders talk series, Ask me Anything series, etc.
o Infrastructure -Physical; Coworking spaces in the Incubation Center; Library–Physical and Digital Access to the state-of-the-art IIMV Library and IIMV-FIELD’s library.
o Promotions in Internal Digital media channels-Social Media Pages of IIMVFIELD / of Student Entrepreneurship Club -EPIC Club /of Student body Clubs/ of IIM Visakhapatnam, Through IIMV’s Quarterly Newsletters IIMV Vibes, Annual Reports etc.
o Media Coverage -Through External Print and Digital Media channels
o Consultation Support -IIMV PGP Students as Part time interns & Consultants for Marketing/Business Development, etc.
o Customized Business Challenge Competitions & Opportunities -Get solutions to specific Startup problems from IIMV PGP Students by involving them in Competitions, Challenges etc.
o Business Communications –Pitch Decks, Social Media Posts, Application forms for various opportunities, etc.
o Startup Kit -Joining kit including cloud credits from AWS, etc.
o Shared Professional Services-For Company Registrations, Web Development, Digital Marketing, Legal, CA, IPR Support, etc. at discount prices from our service providers
o Information about Live Opportunities -Opportunities of Events, Programs, Bootcamps for Incubation, acceleration, funding at our ecosystem Partners, Network Institutions, social media connections, etc.; Through IIMV-FIELD’s WhatsApp Business Channel
Eligibility Criteria
Applicant must be a citizen of India
• At least one member from the team should be willing to pursue the idea full time and at least one member must be from technical background
• The solution should be Information & Communications Technology enabled serving a pressing problem across any one of these sectors–Agriculture, Clean Energy, Education, Environment and Clean Technology, Financial Inclusion including digital payments, Healthcare, Infrastructure and Transportation, Other emerging areas such as Fintech, Electric Mobility, Skill Development and Women Safety and Women &
Children Nutrition, etc.
• For EiR Scheme, the applicant must have a definite Idea that can be scaled into a viable, sustainable, scalable, and profitable businesses
• For Grant Scheme, the applicant should have a definite proof of concept which are to be further developed into Minimum Viable Products (MVP) or have an MVP which needs further support for commercialization.
• Applicant must not have received any EIR/Grants from TIDE2.0 Program at any other center prior to applying. During the incubation period, if the applicant secures any external funding/investments, the concerned entrepreneur/venture will be considered successfully graduated and financial support will be discontinued.
For more information please visit following link : https://iimvfield.com/
Eligible Countries:
India
Business Categories:
Healthcare, Entrepreneurship and Innovation, Agriculture, ICT, Environment, Climate Change and Ecology, Startups, Finance and Accounts, Education, Fintech.
