Alveo-PYNQ VS PYNQ

5- Use pynq library to run that binary file on the board. I have taken this pynq example as reference.

Yes, you can get academic price. If you want a Zynq board, blackboard is good, but PYNQ-Z2 may be better in the same price range https://www.xilinx.com/support/university/xup-boards/XUPPYNQ-Z2.html Pynq-Z2 has a better Zynq device - it has a dual core arm a9 (vs single core on blackboard) and it has more Programmable Logic. Also supported by www.pynq.io Blackboard does have more switches, leds and seven segment display which can be nice depending on your project ideas.

While trying to implement the tutorial given here, I encountered the following error when I tried building the HLS IP cores given here using the bash shell script:

think of this like a space grade 64bit pynq board http://www.pynq.io

You want to use the DVI protocol over HDMI. You will need your frame data either from a simple state machine or using Xilinx VDMA IP to load it from DDR. Then you need to convert that data into HSYNC and VSYNC data, here are two examples, AXI4-Stream to Video or IceBreaker HDL example. You then need to use IOserdes blocks to convert it to the HDMI TDMS signals (rgb2dvi core). You can follow the block diagram for the Pynq Z2 FPGA on the Pynq github (bd tcl).