SAMRIDH programme launched by MeitY

• Ministry of Electronics & Information Technology has launched the “Start-up Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH)”programme.
• It is to create a conducive platform for Indian Software Product start-ups to enhance their products and securing investments for scaling their business.
• India is currently the third-largest Unicorn hub globally with a total valuation of 168 Bn USD with the emergence of 63 Unicorns.

SAMRIDH scheme:

• SAMRIDH will select start-ups in India WHICH are all set for the acceleration stage.
• It will focus on accelerating the 300 start-ups by providing customer connect, investor, connect, and international immersion in the next three years.
• An investment of up to ₹ 40 lakh to the start-up based on the current valuation and growth stage of the Startup will be provided through selected accelerators.
• The scheme will also facilitate equal matching investment by the accelerator/investor.
• The programme aims to further the Indian start-up growth.
• The programme will be implemented by MeitY Start-up Hub (MSH).

Benefits :

• Provide funding support to the startups
• Help in bringing skill sets together which will help start-ups to become successful.
• New products and new services will create a better life for the marginalized sections of the society
• Generate employment
• Boost economy
• Accelerate the growth of the start-up ecosystem in India