Business and Management General

Start Up Grants at IIM Visakhapatnam Incubation Centre [Grants Upto 7L]: Apply by Apr 28

By: Gurjit Kaur | 26 Mar 2020 4:42 PM

IIM Visakhapatnam Incubation Centre in collaboration with Ministry of Electronics and Information Technology (MeitY) has set up a TIDE Incubation Centre under TIDE 2.0 Scheme. The objective of this scheme is to promote tech entrepreneurship by providing financial and technical support to promising ideas. The selected ideas will be incubated at the Incubation center of IIM Visakhapatnam.

Areas

The startups which are at ideation or prototype stage preferably be using electronics & IT technologies such as IoT, AI/ML, Blockchain, Robotics and work in any of the following focus areas can apply :

  • Agriculture
  • Clean Energy
  • Education
  • Environment and Clean Technology
  • Financial Inclusion including digital  payments
  • Healthcare
  • Infrastructure and Transportation
  • Other emerging areas
Application
  • Entrepreneur -in- Resident (For Startups at ideation stage): Apply here
  • Incubation with Grants (For Startups at the prototype stage): Apply here
Eligibility

Entrepreneur -in- Resident (For Startups at ideation stage)

  • The Applicant should be citizen of India.
  • The idea should fall within the listed focus areas
  • Pre-final and final year students can also apply.
  • The Applicant should be committed to exploring a business idea.
  • The Applicant shouldn’t be employed at the commencement of Incubation and during the incubation period.
  • The Applicant shouldn’t have another source of direct income.
  • The Applicant should not be the founder/ promoter of another existing company/venture/start-up.
  • If the Applicant choses to benefit from funding or investments from any other source/scheme (other than the TIDE 2.0) during the incubation period, the grant support shall be considered discontinued from that day onwards and the concerned entrepreneur/venture would be considered to have successfully graduated from the program.

Incubation with Grants (For Startups at the prototype stage)

  • The Applicant should be citizen of India.
  • Final year students can also apply.
  • The start-up should have a definite proof of concept which are to be further developed into Minimum Viable Products (MVP), or have a MVP which needs further support for commercialization.
  • If Applicant choses to benefit from funding or investments from any other source/scheme (other than the TIDE 2.0) during the incubation period, the grant support shall be considered discontinued from that day onwards and the concerned entrepreneur/venture would be considered to have successfully graduated from the program.
Grants
  • Entrepreneur -in- Resident: 2 EiR fellowships of ₹ 4 Lakh per start-up for one year may be provided to any applicant having an idea, who then start working for validation and development of an idea.
  • Incubation with Grants: 2 Grant of ₹ 7 Lakh per start-up for one year may be provided.
Important dates
  • Application Closes: April 28, 2020
  • Announcement of Shortlisted Ideas for Final Stage: May 05, 2020
  • Bootcamp and Idea Presentation at IIMV: May 14 – May 16, 2020
  • Announcement of Final Selection: May 20, 2020
  • Incubation Begins: Jun 01, 2020
Contact

Email: tide2[at]iimv.ac.in
Phone Number: 08912824501, 7993179328

For more details, click here.

Get Noticebard’s Posts in Your Email.

Jobs, internships, conferences, scholarships, etc.
Join 38,000 other people!

Related Posts

About the Author

Gurjit Kaur

Comment via Facebook

Comment via Website

Your email address will not be published. Required fields are marked *