An idea has the potential to change the world. If you too have an idea that can revolutionize the technological industry, the Technology Incubation and Development of Entrepreneurs (TIDE) Scheme will be of use to you.
The Technological Incubation and Development of Entrepreneurs (TIDE) scheme aims to assist institutions of higher learning to strengthen their Technology Incubation Centres. This scheme acts as an accelerator for technology-based start-ups and provides MSMEs guidance and funding on implementing their brainchild.
What are the benefits offered under this scheme?
The following are the benefits offered under this scheme:
- Each institute has a kitty of ₹155 Lakhs. They can use up to ₹125 lakhs for providing financial support
- An MSME can rent operating space for a period of up to 2 years (extendable by one year)
- Further financial support may be sought in the form of a soft loan of up to ₹25 lakhs over two (or three) years’ period (subject to satisfactory performance). The amount sanctioned would be up to a maximum of 80% of the project cost of the incubating company
- A 50% refund of the financial support is given at the end of two (or three) years and the remaining 50% is given as equity to the TIDE center, which can be encashed at the time of valuation
What is the eligibility criteria for this scheme?
An MSME is eligible to apply for the scheme if the start-up is in the field of electronics and IT.
List of Technology Incubation’s and Development centers
What is the list of Technology Incubation and Development centers?
The list of premier institutes that are affiliated with this program can be found here.
What are the documents required to apply for this scheme?
The following documents are required to apply for this scheme:
- Submission of detailed techno-commercial proposal, including a business plan by prospective entrepreneur(s) before host institutions IITs, IIMs, NITs, IIITs, and other premier institutes
- Approval by the Management Board of TIDE to support a prospective entrepreneur
- On formation of a company and signing an agreement with TIDE
To refer to the list of TIDE start-ups click here.