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.
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
“SASACT” (Scheme for Accelerating Startups around Post COVID Technology Opportunities)
Support upto Rs 40 Lakh per Startup
Click below to Apply
Last Date of Registration:-30th September 2020
1. Brief about the Scheme
SASACT initiative is part of Meity’s slew of measures to respond to today's changing environment in a reiterating the need and importance of quick and reliable technology solutions in accordance with local needs. SASACT envisages supporting electronics hardware/ ICT based tech startups for developing or re-purposing technologies, tools, systems, solutions to respond to the post COVID-19 scenario with action areas identified as smart/ digital manufacturing including 3D printing, Digital health/ Medtech, Edutech, Fintech, Work From Home (WFH) and other solutions deemed fit for post Covid-19 world. Rs. 9.6 Crore is provisioned for supporting eligible startups to augment and deploy into the market select technology productsin a span of 11 months from ………………The scheme does not envisage support to ideation stage startups. Startups (Scaling Stage) who have already tested their prototypes (hardware/software innovations) with or without any user agency and are seeking further validations before becoming market-ready with a demonstrable demand are therefore encouraged to apply.
2. Eligibility Criteria for Start-ups
For wide coverage and maximum participation across all levels startups are encouraged to apply with the following conditions are to be met.
I. Startups: Applicants willing to propose and develop solutions must be:
A Startup incorporated as a private or public limited under the Companies Act, 2013 or the previous Act 1956.
Should have recognition of under the latest notification of DIPP.
Should not have raised the investment or revenue more than Rs. 10 Crore.
Should have incubated in an incubation centre or technology/ research park supported by the Central or State Government. Letter from incubation centre or technology/ research park should be submitted with the application.
II. The applicant would furnish the proof of such registrations and necessary balance sheets.
III. The applicant should have a working technical prototype which is being proposed to reposition in light of changing business paradigm of post Covid-19. The scheme does not envisage
to support ideation stage startups.
3. Total number of proposals and support mechanism
A maximum support upto Rs 40 Lakhs for proposed technology product/solutions.
A total number of 40-50 proposals will be supported under the scheme.
4. Implementation Mechanism and Evaluation Process
Startups need to apply online through MeitY Startup Hub portal (https://meitystartuphub.in/). The proposals received in the portal will be scrutinized as per norms and all the shortlisted proposals would be put up for implementation through the 4 designated Implementing Agencies keeping in mind geographical locations, scope of technology, area of work and preferences, if any. During the scheme period startups are expected to work upon and accelerate the production leading to commercial launch of a ready-to-scale minimum viable product in any of the areas described above.
1. Launch of Call for Proposals
2. Last date of submission of proposals
3. Project initiation
4. Prototype scale-up to market deployable product with beta testing and regulatory approval (if any)
5. Go to market
6. Demonstration of successful deployment
*For detailed information about the SASACT 2020 call for proposal for startups please visit MeitY Startup Hub(MSH) Website.
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
A Global Acceleration Program by
Why THE GAIN :
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.
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
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”
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/