SAMRIDH Scheme

On August 25, 2021 Electronics and Information Technology Minister Mr. Ashwini Vaishnaw launched SAMRIDH – Start-up Accelerators of MeitY for Product Innovation, Development and Growth for boosting the Startups in their initial phase. This scheme is mainly focused on accelerating about 300 Indian software product start-ups in the next 3 years. Under this scheme, financial investment of Rs. 40 lakhs will be provided to the start-ups based on the current valuation. Apart from funds the start-up will get required training and skill sets for flourishing further, It also tends to provide the start-ups with an access to the network of investors, mentors and customers to assist them to be successful. This scheme will contribute in building a strong start-up ecosystem in the state.

Overview:

Scheme Objectives and Benefits:

• The main objective of the scheme is to support 300 software product start-ups in the country
• It tends to provide the start-ups with investment support up to Rs. 40 lakhs
• This scheme will provide the start-ups with access to a network of investors, mentors and customers
• It will provide the required skill sets and training for succeeding in the business
• It tends to assist the start-ups to flourish
• This scheme will also enable increased productivity and innovation
• In the long run, it will impact increased economic growth and development in the country.

Scheme Details:

• Electronics and Information Technology Minister Mr. Ashwini Vaishnaw launched SAMRIDH – Start-up Accelerators of MeitY for Product Innovation, Development and Growth on August 25, 2021.
• This scheme is launched for accelerating and boosting the software product based start-ups in the country.
• This scheme tends to benefit about 300 start-ups in the country
• Financial investment upto Rs. 40 lakhs based on current valuation along with access to a network of customers, investors and mentors will be provided to the start-ups.
• Required skills sets will also be provided.
• Government aims at supporting the start-ups in the initial stage which includes risk.
• This will help the start-ups to focus on increasing their business and become successful.
• New job opportunities will be generated with more and more start-ups in operation in the country.
• This scheme will focus on boosting the start-ups for increased productivity.
• This scheme will build a strong base and ecosystem of start-ups in the country.
• It will contribute to the mission of the central government to provide employment in traditional as well as new age industries.