Context: Union Minister for Education virtually inaugurated the Gyan Circle Ventures, a MeitY funded Technology Business Incubator (TBI) of Indian Institute of Information Technology, Sri City (Chittoor), Andhra Pradesh.
Key Features

• Gyan Circle Ventures would function as a Technology Incubation and Development of Entrepreneurs (TIDE 2.0) incubation centre.
• Serve as a hub for innovation and startups by providing support, in various phases, via investments, infrastructure and mentoring.
• Focus on emerging technologies such as Artificial Intelligence (AI), Block-chain, Cyber-Physical Systems (CPS), Cyber Security, Internet of Things (IoT), Robotics, etc.
• Will have an Advisory Committee comprising leading Industrialists, entrepreneurs and technical experts.

Technology Incubation and Development of Entrepreneurs (TIDE) 2.0

• TIDE 2.0 seeks to create a holistic ecosystem to support technology startups and incubation centres through identifying and creating necessary linkages.
• The programme wants to promote tech entrepreneurship through financial and technical support to incubators engaged in supporting ICT startups primarily engaged in using emerging technologies such as IoT, AI, Block-chain, Robotics etc. in pre-identified areas of societal relevance.

Salient Features of the Scheme

• Fostering and evangelizing a vibrant entrepreneurship ecosystem that inspires budding entrepreneurs as well as support existing ones
• Creating entrepreneurship models of both financial as well as a social value.
• Provide holistic incubation support including co-working space, mentoring, and networking for startups.
• Provide financial support to 51 incubators and close to 2000 tech startups pan India.
• The financial support for startups will be provided to Facilitate IPR filings

TIDE Centers
Group 1 Centers

• It will offer a mature level of support to startups including mentoring, capacity building, investing, and post-investment advisory.
• It is also proposed that the G1Cs would mentor and supervise the Group 2 Centres and Group 3 Centres if needed.

Group 2 Centers

• It will enable a large number of aspiring entrepreneurs and students to build high-quality startups.
• They must also agree to nurture Group 3 Centers if required.

Group 3 Centers

• It will focus on innovation and entrepreneurship ecosystems in unexplored regions.
• These will typically be incubators that are recently established in academic institutes.