TIDE 2.0 Innovation Program for Startups

K L Technology Incubators Foundation-TBI announces the TIDE 2.0 an innovation program driven by MeitY Startup Hub. KLT IF-TBI has partnered with Startup India as the key partner for rolling out the Program. TIDE 2.0 Innovation Program aims to provide fellowship/grants for aspiring entrepreneurs to promote tech entrepreneurship. KLT IF-TBI invites Applications from all aspirants including Individuals with Ideas, Startups with proof of concept, Innovators, Research scholars, Faculty, and Students. The current article briefs the procedure to apply for the TIDE 2.0 Innovation Program

MeitY TIDE 2.0 Scheme

Technology Incubation and Development of Entrepreneurs (TIDE 2.0) is a program supported by the Ministry of Electronics and Information Technology (MeitY) to foster innovations and support startups working with emerging technologies in the Information and Communications Technology (ICT) domains Under this scheme, Government provides a fellowship/ grant for an aspiring entrepreneur to promote tech entrepreneurship through financial and technical support in seven pre-identified areas of societal relevance For details on the Technology Incubation and Development of Entrepreneurs (TIDE-2.0) Scheme, click here

K L Technology Incubators Foundation (KLTIF)

K L Technology Incubators Foundation (KLTIF) working towards incubation, mentoring, and funding activities to take and allow the start-ups to apply Government of India schemes, and other investment sources encouraging the innovative ideas to be converted into suitable start-up ventures.

The objective of the TIDE 2.0 Innovation Program

To nurture independent entrepreneurs by inoculating grass root level innovations through a highly conducive entrepreneurial ecosystem with emphasis on innovation, incubation, and entrepreneurship that inculcate startup ventures creation competent of becoming part of the fortune list of companies.

Eligible Startups for the TIDE 2.0 Innovation Program

Individual
Ideation Stage Startup
Validation Stage Startup
Early Traction Startup

Relevant Industry

Analytics & Advertising
Architecture Interior Design
AR VR (Augmented + Virtual Reality)
Automotive, Art & Photography
Animation, Chemicals & Computer Vision
Telecommunication & Networking
Construction, Agriculture, Aeronautics Aerospace & Defence
AI, Green Technology, Events, and Fashion
Finance Technology, Enterprise Software, Food & Beverages
Design, Dating Matrimonial, Education & Renewable Energy
Technology Hardware, Healthcare & Lifesciences
Internet Of Things, IT Services & Human Resources
Marketing, Nanotechnology & Non-Renewable Energy
Pets & Animals, Media & Entertainment
Retail, House-Hold Services, Professional & Commercial Services
Sports, Social Impact & Social Network
Textiles & Apparel, Indic Language Startups
Transportation & Storage
Logistics, Toys And Games, Travel & Tourism
Security Solutions, Airport Operations & Real Estate
Other Specialty Retailers, Safety, Robotics
Passenger Experience, Biotechnology & Waste Management

Relevant Service Type

Government & Hyperlocal
Discovery & Location Based Services
Manufacturing & Marketplace
Mobile & Offline
Online Aggregator & Peer To Peer
Platform & Consulting
Consumer Internet & Engineering
E-Commerce & Rental
Enterprise Mobility & Research
Sharing Economy & Social Enterprise
SaaS & Subscription Commerce

Eligibility Criteria

The eligibility criteria to apply for the TIDE 2.0 Innovation Program are explained in detail below:

Eligibility Criteria for Startups

A startup with less than 7 years in existence can apply for the TIDE 2.0 Innovation Program
The startup should have DIPP recognition with Startup India, in case the startup does not have DIPP recognition while applying for the grant challenge program, the startup should ensure DIPP recognition before availing of funding for the program.
Founders of the applicant company should have at least 51% Indian shareholding.
The startup should have a qualified team in place.

Eligibility Criteria for Student startups

Proposals from Startups/students will also accept for the TIDE 2.0 Innovation Program:
Proof of Concept ideas
Products in the Prototype or pre-commercial stage
Revenue stage or has raised fund earlier
Student startups should be in their final semester
Startups that are not incubated at any Incubation center will have to associate with KLTIF for the entire project duration. The startup is required to give an undertaking on the same while submitting the application form.

Features of the TIDE 2.0 Innovation Program

Under this program, KL Technology Incubators Foundation will foster startups developing emerging technologies by providing the following benefits:

Incubation Space – the latest ‘ plug-and-play facilities, access to state-of-the-art technology platforms, and an extremely dynamic entrepreneur-friendly culture.
Mentorship – access to KLTIF-TBI’s vast network of technical and business experts for the exchange of scientific and business know-how.
Capacity-Building – strengthening investment viability and market-readiness of early-stage ventures by providing scientific and business back-up.
Handholding support – extensive knowledge sharing and networking sessions to connect young entrepreneurs with key players at both national and international levels such as domain experts, regulating authority, and investors.
Investment Opportunities – equity-based seed funds and VC funding through KLTIF-TBI’s network of funding organizations and investment bodies.

Documents Required

The list of documents to be submitted by the startup while filing the application form is listed as follows:

Company Registration Certificates
GST registration certificate
KYC of promoters – Aadhar card and PAN Card
Shareholding pattern

The below documents are to be submitted by the startups after selection under the Grant challenge program.

Constitution documents – Memorandum of Association and Article of Association.
Annual report for last 1 year in case of POC-based startups and 3 years in case of revenue-based startups.
Bank statements for 6 months
Proof of business address
Reference from an established incubator or institution

Fiscal Incentives

The fiscal incentives offered by the TIDE 2.0 Innovation Program are listed as follows:

Entrepreneur in Residence fellowship - Rs 4 Lakhs (Support Proof of concept ideas)
Grant Fellowship – Rs 7 Lakhs (Support prototype-based ideas – Pre-commercial based concepts)

TimeLine of TIDE 2.0 Innovation Program

Application Opens	6th July 2022
Deadline to Apply	30th July 2022
Application Result Date	30th August 2022

Application Procedure

The Incubation Program Applications can be submitted by 30th July 2022. The applicant is required to access the official webpage of Startup India.
From the home page click on the Programs option and then select View all active programs.
By clicking on the Incubator Programme from the new page, the list of active programs will be displayed. Click on the TIDE 2.0 Innovation Program, the link will redirect to a new page.
Click on the apply now option; the Startup India login page will be displayed. The existing users of Startup India can log in to the portal to apply for the program.
New users need to register on the portal to get the user credential. By clicking on the register now option, the applicant can provide all mandatory details for registration.
After login to the portal, the link will redirect to the official page, where the applicant can apply.
After providing the details, click on submit option. The application will be forwarded to the concerned authority. The selected startups can attend the 6 months Incubation program.

Procedure Post Submission

Selected applications will be evaluated by a high-level technical and industry experts committee.
Shortlisted applicants shall make a presentation (online or in-person) before the screening Committee.