TIDE 2.0 Grants
Eligibility Criteria & Preferences
for Idea Stage Startups / Entrepreneurs
TIDE 2.0 EIR – Entrepreneurs-in-Residence Grant (EIR)
Eligibility Criteria & Preferences
- The applicant must have completed basic graduation as on the date of accepting EIR* (Final year students can also apply)
- The idea should fall within the listed focus areas – Healthcare, Education, Agriculture, Infrastructure & Transportation, Financial Inclusion including Digital Payments, and e-Governance
- The Applicant should not be employed at the commencement of Incubation and during the incubation period.
- The Applicant must be physically* incubated for entire idea development for 12 Months at IIITB Innovation Centre (*during Covid-19 Times report every week online)
- The Applicant should be an Indian Citizen (does not include OCI or PIO) with possession of a Indian Passport.
- Aadhar Card / PAN Card must be also submitted.
- The Applicant must be under the age of 35.
- TIDE 2.0 EIR support recipient/ The Applicant should not treat this support as a stopgap arrangement to support them in their academic pursuits or transition between jobs or as a buffer during COVID-19 times.
- The Applicant should not be the founder/ promoter of another existing company/venture/start-up.
- The Applicant should not have raised funding in any other program.
- Preference will be given to Women Entrepreneurs.
- Preference will be given to idea with a granted/published patent or at least a provisional patent applied.
- The Applicant should Register the company in Karnataka.
- EIR’s who have received previous grants / Funding from other Programs also will not be considered.
- Preference will be given for a well-structured dedicated team working towards the Innovation.
- The disbursement will be given in the following manner Rs. 1L [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)
- The Disbursement will happen to the EIR or the company firmed by the EIR subject to Progress Report Evaluation by the Committee; monthly reports also to be submitted by EIR, and Quarterly Report also to be submitted by EIR for disbursement.
- 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.
- The Applicant has to comply and adhere with all Rules and Regulations that governs IIITB and IIITB Innovation Centre
- The Applicant / Entrepreneurs-in-Residence additionally 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.
- No Equity will be charged.
- If there are other agreements to be signed at the time of Incubation it will be intimated.
- The Decision by Selection Committee is Final and Binding.
For further queries, Contact IIITB Office of Research(ORA) : email@example.com
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