SAMRIDH Programme launched by MeitY to support Startups

• 26 Aug 2021

To support startups and entrepreneurs in their initial phase, where they face most challenges, the Ministry of Electronics and Information Technology (MeitY) has launched Startup Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH) programme on 25 August 2021.

• SAMRIDH will create a platform for Indian software product startups to enhance their products and secure investments for scaling their business.
• The programme is being implemented by MeitY Start-up Hub (MSH).
• The SAMRIDH initiative will not only provide funding support to startups, but will also help in bringing skill sets together which will help them become successful.
• The SAMRIDH scheme will pick up startups that are ready for acceleration stage and will provide them with funding support, mentorship and a lot of other support that is required by startups at this stage.
• The SAMRIDH programme will focus on accelerating 300 start-ups by providing customer connect, investor connect, and international expansion opportunities in the next three years.
• Also, an investment of up to Rs 40 lakh to startups, based on their current valuation and growth stage will be provided through selected accelerators. It will also facilitate equal matching investment by the accelerator or investor.