Applications Invited for Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) Program

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About the Organization

India is among top 3 startup ecosystems in the world. In order to boost the Indian economy, innovation and entrepreneurship in the emerging focus area that is being aggressively promoted to give fillip to the Indian economy. A variety of innovation and IPR-related activities are being led and facilitated nationwide by the Ministry of Electronics and Information Technology (MeitY), Government of India, in an effort to grow this ecosystem.

In order to facilitate MeitY’s vision of promoting technology innovation, start-ups and creation of Intellectual Properties, a nodal entity called ‘MeitY Start-up Hub’ (MSH) has been setup under its aegis. MeitY Startup Hub (MSH), is a unique, high-impact, digitally-driven scheme which seeks to strengthen the startup ecosystem by integrating the resources, upskilling the entrepreneurs, leveraging the experts, facilitating the knowledge transactions, and promoting the investments in deep-tech startups to support inclusive & sustainable techno-socio-economic development across India and international expansion programs for startups among other activities. To support and leverage the startup ecosystem we host Startups, Incubators, Centres of Entrepreneurship (CoEs), Accelerators, Mentors and Investor.

About the Fellowship

The Government of India has launched a comprehensive initiative to foster innovation and support start-ups through its Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) program, addressing the need for an accelerator program that drives social impact and scales solutions for India's challenges. The program aims to support 300 tech Start-Ups in 3-year duration with cohort size of 5-10 Start-Ups.

SAMRIDH Program is conceptualized and being implemented to provide support to selected accelerators for extending acceleration services to start-ups along with one-to-one matching funding support of up to ₹40 lakh. In the first round of cohort, 22 Accelerators spread across 12 states are supporting 175 startups, selected through a multilevel screening process.

Major Objective:

The SAMRIDH scheme 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

• Have been in the business of incubation for more than 3 years and supported more than 50 start-ups of which at least 10 have received non-public investment.
• Having targeted accelerator programs with an experience of running at least 3 cohorts with activities listed as desirable under SAMRIDH,

Have operations in India

Have necessary space and infrastructure to carry out activities for the start-ups.

Should demonstrate capabilities with regard to:

• Supporting Start-Ups for domestic and international market immersion.
• Network/Connect with Venture Capitalist/Angel Investors.
• On-boarded with leading business mentors. d. Structured cohort for accelerating deep tech software product start-ups

How to Apply

Click here apply

Deadline: October 2, 2024.

For more information please check the Link

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