MeitY TIDE 2.0

MeitY TIDE 2.0 is a scheme to promote tech entrepreneurship through financial and technical support to incubators.

i-TIC Foundation at IIT Hyderabad is a TIDE 2.0 Center.

There are funding support for 2 positions for the EiRs and 2 positions for Grants, for the year 2020. One startup may apply only for one position, either EiR, or Grant.

The deadline for the Application was Sunday 9th Feb, 2020.

RESULTS:

The Selection Committee selected the below candidates :

(I) MeitY Grants program (Rs. 7 lakh each)

a) Candidate #6 - Prof. R. Prashanth Kumar

b) Candidate #9 - Ms. Surbhi Guha

(II) MeitY EiR program (Rs. 4 lakh each)

a) Candidate #4 - Mr. Akshit Jain

b) Candidate #3 - Mr. Jayandra Kumar Sharma




Greetings for the Day!!!

Community Builders, Coworking spaces and startups are an integral part of the ecosystem and need to complement each other in a great way to cheer the success stories. StartupToScaleup 2020 brings all of us together to join hands to support each other.

Being an ecosystem partner, we request you to share this message with the startups in the space of Healthcare and Edtech for a great value add, so that, they remember you of extending a valuable support for their success.This is a MeitY, Govt. of India supported program with the following value additions :

  • 6 weeks of India program
  • 4 weeks of Global Immersion Program*
  • Market entry strategies, Business model review and Partnerships
  • No equity dilution
  • Support services such as co-working space, CXO services and Legal & Accounting support
  • Support of Investor and Mentor connections

(*subject to COVID-19 situation)

"An ecosystem that has the maximum amount of diversity is the richest"

Application closes by

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A Global Acceleration Program by

Supported By

Why THE GAIN :

  1. As GAIN have an inhouse fund (StartupXseed) assisting deserving startups with their funding requirement, it will be a high value proposition for startups to look at GAIN.
  2. GAIN specialize in taking Indian Startups to global markets with their global connections and provide International startups with access to the India market through their A2I (Access to India) program. This program provides selected startups, a sponsored trip to a global event to provide exposure as part of Global Immersion program
  3. GAIN do not charge equity for this program as it is completely sponsored by MeitY.




"Fintech Innovation Challenge" for Implementation of Concession on

GST Component of Payment made through Digital Modes

WIN Cash Reward Upto 4 Lakhs Each

Application Deadline - 28th February 2020

Apply Now Application link :- https://meitystartuphub.in/

Ministry of Electronics and Information Technology (MeitY) and MeitY Startup Hub announces(MSH) “Fintech Innovation Challenge for implementation of concession on GST component of payment made through digital modes i.e., RuPay (Debit card) and BHIM UPI”. Government is contemplating to provide 20% GST concession on the B2C transactions made through RuPay (Debit card) and BHIM UPI, subject to the total ceiling of Rs.100. The concession may be given to the consumers either in the form of instant cashback or upfront discount while making the payment.

About Fintech Innovation Challenge

Fintech Innovation Challenge seeks solution for the stated “Problem statement”

Problem Statement

Implementation of discount/cashback as a percentage of GST amount to the consumer on transactions made through RuPay (Debit card) and BHIM UPI, subject to a ceiling of Rs.100.

Example: A customer purchases an item of value Rs.100 which falls in the 18% GST slab. The customer has to pay Rs.118 (Rs.100 + Rs.18). As per scheme, a discount of 20% on the GST amount is Rs.3.6 will be given to customer as instant cashback or discount. Hence, customer will either pay Rs.118 and get Rs.3.6 as instant cashback or will pay discounted amount Rs.114.4. Further, merchants need to file GST as per their existing process with either the reduced amount (Rs.14.4 instead of Rs.18) or they file complete GST amount, i.e.,Rs.18 (Rs.14.4 + Rs.3.6), the differential amount of Rs.3.6 may be reimbursed to the merchants.

Some of the important identifiers like GSTno., payable tax and discount amount are to be captured for UPI and RuPay(Debit card) transactions. GSTN should also be able to verify the discount/cashback details as and when required. NPCI, being the settlement/certifying institution, may need to store and share only relevant data as per the prevailing data protection policies.

The challenge will be conducted in three stages:

Stage 1. Screening of applications received at MeitY Startup Hub(MSH) Portal.

Stage 2. Presentation and submission of detailed implementation strategy by selected 10 entries from Stage 1.

Stage 3. Top 3 entries of Stage 2 will be implementing and presenting Proof of Concept (PoC) to test/verify the working of their solution.

Awards & Recognition

· Recognition and certificate from MeitY for “innovative solution” for "GST linked tax incentive scheme for digital payments" for the top 10 entries selected from Stage-1.

· Cash reward of Rs 1 lakh each to the best three entries of the Stage-2.

· Amount of Rs 3 lakhs will be given to the entities who successfully demonstrate their PoC as per the evaluation committee.

For detailed information about the Challenge visit MeitY Startup Hub Website. https://meitystartuphub.in/