SAMRIDH Scheme

About SAMRIDH Scheme:

• SAMRIDH is a flagship programme of the Ministry of Electronics & IT (MeitY) for startups acceleration under National Policy on Software Products – 2019.
• It was launched in August 2021 and supports 300 software product startups with 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 an experience of running startup program cohorts with activities listed as desirable under 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 upto ₹40 lakh by MeitY.
• Implemented by: The scheme is being implemented by MeitY Start-up Hub (MSH),Digital India Corporation (DIC).

Q1: What is the Skill India mission?

It was approved by the Union Cabinet in 2015 to create convergence across sectors and States in terms of skill training activities. The mission shall consolidate and coordinate skilling efforts, and expedite decision-making across sectors to achieve skilling at scale with speed and standards.

Source: Secretary, MeitY launches 2nd Cohort of Startup Accelerators of MeitY for Product Innovation, Development and Growth (SAMRIDH)