Call for Applications: TIDE 2.0 Program (India)

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 preidentified 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. 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. They are one of the 5 IIM’s and only third generation IIM to be executing the TIDE 2.0 Program in the incubation centers.

TIDE2.0 Program at IIMV FIELD aims to focus on and support Ventures working in Information and Communication Domains and using emerging technologies, all over India. This program is funded by MeitY.

Schemes

The support available to Startups selected under TIDE2.0 Program will be in two schemes.

• Entrepreneur-in-Residence (EiR) Scheme: Applicable for Startups at Ideation Stage or beyond, with upto INR 4 Lakhs per Startup financial assistance as a grant and incubation support for a year. Around 2-4 Startups will get selected in this scheme.
• Grant Scheme: Applicable for Startups at Proof of Concept (PoC) Stage or beyond, with upto INR 7 Lakhs per Startup financial assistance as a seed investment and incubation support for a year. Around 2-3 Startups will get selected in this scheme.

Phases

This program at IIMV FIELD will consist of three Phases.

• Phase 1 – Outreach & Applications – During this phase, IIMV FIELD will be reaching out to startups expected to be benefitted through this program. Interested & eligible entrepreneurs, with a venture idea or with an already running venture, will need to submit the application form in the website.
• Phase 2 – Screening and Selection – In this phase, upto 15 startups will be shortlisted for a brief interaction with the Screening cum Evaluation Committee (SCEC) & Investment Committee (IC) of IIMV FIELD, for selection to the next phase of the program.
• Phase 3 – Incubation Support – In this phase, 4 to 6 startups will be selected for a rigorous 12-month long incubation support at IIMV FIELD. This will be provided virtually and/or physically by IIMV FIELD. During this phase, startups will also get financial assistance based on the performance in this program and may be eligible for applying to any other seed funds available at IIMV FIELD.

Opportunities in this Program

The selected startups in Phase 3 of the TIDE2.0 Program at IIMV FIELD, may also avail.

• Financial Support – During the Incubation Phase, upto INR 4 Lakhs for EIR Scheme Startups, Upto INR 7 Lakhs for Grant Scheme Startups; Additional funding Upto INR 40 Lakhs for startups getting selected in MeitY’s Scaleup Investment round.
• Incubation Services –
  • 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
  • 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.
  • Capacity Development Programs – Access to Workshops, Masterclasses, Knowledge Series, Founders talk series, Ask me Anything series, etc.
  • Infrastructure & Access to Learning Resources – Physical; Coworking spaces in the Incubation Center; Access to certain online & offline learning resources in the state-of-the-art IIMV Library and IIMV FIELD’s library.
  • 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.
  • Media Coverage – Through External Print and Digital Media channels
  • Consultation Support – IIMV PGP Students as Part time interns & Consultants for Marketing/Business Development, etc
  • Customized Business Challenge Competitions & Opportunities – Get solutions to specific Startup problems from IIMV PGP Students by involving them in Competitions, Challenges, etc
  • Business Communications – Pitch Decks, Social Media Posts, Application forms for various opportunities, etc
  • Startup Kit – Joining kit including cloud credits from AWS, Access to YNOS, among 20+ other services etc.
  • Shared Professional Services – For Company Registrations, Web Development, Digital Marketing, Legal, CA, IPR Support, etc at discount prices from the service providers.
  • Information about Live Opportunities – Opportunities of Events, Programs, Bootcamps for Incubation, acceleration, funding at the ecosystem Partners, Network Institutions, social media connections, etc; Through IIMV FIELD’s WhatsApp Business Channel

Eligibility Criteria

• The venture should not have received EIR or Grant Scheme Support in the TIDE2.0 Program from any other TIDE2.0 Centres.
• The venture must have been already incorporated by 31 Jan 2024.
• The venture can only be a private limited company.
• The stage of the venture – at least Ideation (for EIR Scheme); at least Proof of Concept (for Grant Scheme).
• The applicant can choose to be working on a product/service in the following sectors – ClimateTech, EduTech, FinTech, MedTech, LogisticsTech, AgriTech & Emerging Mobility.
• The applicant can be running his venture from anywhere in India.
• Applicant must be a citizen & resident of India and must be at least 18 years of age (as on 31 st Dec 2023).
• At least one member from the team should be willing to pursue the venture full-time.

For more information, visit MeitY.