Foundation for Innovation and Technology Transfer (FITT)
Startups / Ideas for Financial Support Under TIDE 2.0 scheme
Supported By: Ministry of Electronics and Information Technology (Meity)
APPLY BY: 10 Mar, 2020
OBJECTIVE: Technology Incubation and Development of Entrepreneurs (TIDE 2.0) is a scheme for strengthening Technology Startups in selected areas of national concern by leveraging emerging technologies. Main objective is the promotion of tech entrepreneurship through financial and technical support to ICTE startups engaged in using emerging technologies such as IoT, AI, Block-chain, Robotics etc. in eight (08) pre-identified areas of societal relevance.
SECTORS WE FOCUS
➔ Infrastructure and Transportation
➔ Environment and Clean Tech
➔ Clean Energy Solutions
➔ Financial Inclusion Including Digital Payments
➔ Other Emerging Areas*
*flexibility to support tech startups to address societal challenges in ICTE areas
1. EiR: 4 EiR Fellowships of Rs 4 Lakhs per startup for 1 year may be provided to any applicant having an idea, who then can start working for validation and development of that idea.
2. Grant: 4 grants of Rs 7 Lakhs per startup for 1 year may be provided to any applicant having a Proof of Concept (PoC), who then can start working for further conversion into Minimum Viable Product (MVP).
WHAT WE OFFER
➔ Co-Working and Infrastructure Facilities (Labs)
➔ Workshop Facilities and Utilities
➔ Funding and Further Opportunities for Investment
➔ Technical and Business Mentoring
➔ Business Support and Networking
● EiR (Entrepreneur in Residence):
➔ should be a resident of India.
➔ should be an undergraduate degree holder or a final year student.
➔ should not have any other source of funding.
➔ should solely be committed to exploring his/her business idea.
➔ should not be the promoter or shareholder/beneficiary of any other company.