In order to boost the start-up ecosystem, the Indian government offers a variety of incentives in the form of initiatives and financial assistance. Many citizens are encouraged to establish their own businesses as a result of this support; thus, the ministry of electronics and information technology has created the MeitY SAMRIDH Scheme to provide financial assistance to all software entrepreneurs with innovative solutions and proof of concept for their product.
The objective of the SAMRIDH Scheme-
- Start-ups will be given a platform through this scheme to improve their product and receive financing in order to develop their firm. Existing and new accelerators will be given assistance in expanding their services. Under this initiative, the government will fund firms up to Rs 40 lakh through accelerators, based on their present valuation and growth stage.
- Accelerators are welcome to apply online to become MeitY partners and deliver a 6-month start-up accelerator programme each year. Around 300 tech businesses will be supported through this programme, which will be divided into 40 cohorts.
- The MeitY SAMRIDH scheme’s main goal is to provide funding assistance to entrepreneurs in order for them to succeed. Entrepreneurs will receive not just financial assistance but also skill sets through this programme. Start-ups will be aided by services such as consumer connections, investor connections, and international connections. This programme will help to propel the start-up ecosystem forward. Entrepreneurs will now receive money to help them expand their businesses.
SAMRIDH Scheme Benefits and Features
- The government has launched the MeitY SAMRIDH plan to provide various forms of rewards in order to promote the start-up ecosystem.
- The government will grant financial assistance to start-ups with a great idea and proof of concept for their product under this scheme.
- This programme will encourage many citizens to create their own businesses.
- This initiative will be implemented by the Ministry of Electronics and Information Technology.
- Start-ups will be given a platform to improve their product and get funding to help them scale their businesses.
- Existing and new accelerators will be given help to expand their services under this scheme.
- The government would grant up to Rs 40 lakh in cash to accelerators for businesses based on their current valuation and growth stage.
- Accelerators are welcome to apply online to become MeitY partners and deliver a 6-month start-up accelerator programme each year.
MeitY SAMRIDH Scheme Implementing Agency
- MeitY Startup Hub will implement the MeitY SAMRIDH Scheme.
- Project management will be formed by implementing agencies.
- This unit will be in charge of putting this screen together.
- MeitY start-up hub will accept stock in start-ups in exchange for government contributions in the form of a promissory note or a safe note, similar to an accelerator.
- A Scheme Management Committee will also be formed to oversee all areas of the scheme’s proper implementation.
- The strategy The Management Committee will be in charge of periodically monitoring the program’s progress in terms of its goal.
- This committee is also responsible for offering guidance and making recommendations for programme improvements.
- The Accelerator must have been in the incubation business for at least three years. Accelerator must have assisted at least 50 businesses, at least 10 of which got non-public funding, or have a targeted accelerator programme with at least three cohorts and activities identified as desirable under Samridh.
- The accelerator must operate in India.
- Accelerators must have the appropriate space and infrastructure to conduct start-up activities.
- Should be able to demonstrate capability in terms of:
- Cohort structure for deep tech software product acceleration
- partnered with a top business mentor
- Make contact with angel investors/venture capitalists.
- Supporting start-ups as they enter the domestic and international markets
- Aadhar card
- Residence certificate
- Income certificate
- Bank account details
- Passport size photograph
- Mobile number
How to apply-
- Go to the official website of the ministry of electronics and information technology startup hub
- The home page will open before you
- Now you are required to click on login under the startup section
- The login page will appear before you
- On this page, you have to enter your username and password
- Now you have to click on sign in
- By following this procedure, you can do start-up login
MeitY Startup Hub
- Address- Room Number: 2214, Ministry of Electronics and Information Technology, Electronics Niketan, 6, CGO Complex, Lodhi Road, New Delhi-110-003
- Phone: +91-11-24301715/24364799
- Email: [email protected]
MSH Related Query
- Email: [email protected]
- Telephone: +91-11-24301419
MeitY Startup Hub
For any technical query +91-11-24301419