IIITB Innovation Centre – TIDE 2.0 Grants

Eligibility Criteria & Preferences

for  Initial Stage Startups

TIDE 2.0 EIR – TIDE 2.0 Startup Grant

Eligibility Criteria & Preferences

  1. The applicant must have completed the basic graduation as on the date of accepting Grant.

  2. The idea should fall within the listed focus areas – Healthcare, Education, Agriculture, Infrastructure & Transportation, Financial Inclusion including Digital Payments, and e-Governance

  3. The Applicant shouldn’t be employed at the commencement of Incubation and during the incubation period

  4. The Applicant must be physically* incubated for entire idea development (during COVID-19 Times report every week online)

  5. The Applicant should be an Indian Citizen (does not include OCI or PIO) with possession of a Indian Passport.

  6. Aadhar Card / PAN Card must be also submitted.

  7. TIDE 2.0 The Applicant / EIR support recipient should not treat this support as a stop gap arrangement to support them in their academic pursuits or transition between jobs or as a buffer during COVID-19 times.

  8. The Applicant may be individual innovator or a nascent startup (less than 2 years old as on the date of application)

  9. The Applicant should not be the founder/ promoter of another existing company/venture/start-up.

  10. The Applicant should not have raised funding in any other program.

  11. The Applicant should have registered a Indian Start-ups (registered under Companies Act, 2013), having at least 51% shareholders as Indian Citizen [does not include OCI or PIO].

  12. The Applicant should have registered the startup in Karnataka

  13. Applicants and Startups who have received previous grants / Funding   from other Programs also will not be considered.

  14. Preference will be given to Woman entrepreneurs.

  15. Preference will be given to idea with a granted/published patent or at least a provisional patent applied.

  16. Preference will be given for a well-structured dedicated team working towards the innovation.

  17. The Grant will be given in a 4 Tranche Module – Rs. 1.75L [M1-M3 (Quarter 1), M4-M6 (Quarter 2), M7-M9 (Quarter 3), M10-M12(Quarter 4)] as per prescribed Milestones are completed by Applicant / Applicant’s Company and document Submission subject to Progress Report Evaluation by the Committee (Monthly reports also to be submitted)

  18. 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 asked to return the money.

  19. The incubated Startup has to comply with all Rules and Regulations that governs IIITB and IIITB Innovation Centre

  20. The Applicant / Startup Founder will have to pay IIITB Innovation Centre a Membership Charges of Rs 3600+GST per Month this will be for the first period of 12 Month and renewable Later, this would also include the access to 1 Seat at the Innovation Centre Premises for the Founder only, in case of Co-founder or employee to be seated a additional cost of Rs 3500 + 18% GST would have to be paid per seat.

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