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

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About the Organization

Brand BIMTECH brings out the best in business through its sector-agnostic incubation center.

The Centre for Innovation and Entrepreneurship Development (CIED) established in 2009, BIMTECH has been encouraging entrepreneurship in its students. The genesis in itself provided us with a strong foundation and robust network to venture into the ecosystem of innovation.

About the Fellowship

The SAMRIDH scheme will support existing and upcoming Accelerators to select and accelerate potential IT based startups to scale for solving India’s problems creating positive social impact. The SAMRIDH scheme will provide support to selected Accelerators for extending Accelerator Services as defined below to startups and even provide first round of funding of up to ₹40 lakh (with an average of ₹ 30 Lakh per startup per cohort). The programme will invite applications from existing and upcoming Accelerators to become partners with MeitY and provide startups accelerator programmes of 6 months every year. It is proposed to support around 300 tech Start-Ups through about 40 cohorts (size of 8-10 Start-Ups) under the program.

Objectives

• The SAMRIDH scheme will support existing and upcoming Accelerators to select and accelerate potential product based startups to scale. The program will focus on accelerating the startups by providing customer connect, investor connect and internationalization connect services.

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.

OR

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

Deadline

Application closing - July 30, 2022

For more information please check the Link

Tags Innovations and Technology Others