SAMRIDH Scheme:
The Union Ministry of Electronics & IT secretary launched the 2nd Cohort of Startup Accelerators of MeitY for Product Innovation, Development and Growth (SAMRIDH) scheme.
- SAMRIDH is the Union Ministry of Electronics & IT (MeitY) ‘s flagship programme for startup acceleration under the National Policy on Software Products—2019.
- It was launched in August 2021 and supports 300 software product startups with an outlay of ₹99 crore over a period of 4 years.
- It aims to support existing and upcoming Accelerators to select and accelerate potential IT-based startups to scale.
- Among others, the program focuses on accelerating the startups by providing customer connect, investors connect and connect to international markets
- Eligibility of Accelerator
- Should be a registered Section-8/Society, [Not-for-Profit Company (eligible to hold equity)] having operations in India.
- The Accelerator and the team are recommended to have more than 3 years of startup experience and should have supported more than 50 start-ups of which at least 10 startups should have received investment from external Investors
- The Accelerator should have experience in running startup program cohorts with activities listed as desirable under the SAMRIDH program.
- It is being implemented through potential and established accelerators across India which provide services like making products market fit, business plan, investor connect and international expansion to startups plus matching funding up to ₹40 lakh by MeitY.
- Implemented by: The scheme is being implemented by MeitY Start-up Hub (MSH), Digital India Corporation (DIC).
