NEW DELHI: The government’s SAMRIDH programme would support 300 start-ups by connecting them with investors, new customers and international exposure. The programme also envisages investment up to Rs 40 lakh to start-ups through selected accelerators. SAMRIDH would also facilitate equal matching investment by the accelerator/investor.
The programme — Start-up Accelerators of MeitY for Product Innovation, Development and growth (SAMRIDH) — was launched on Wednesday by Electronics and Information Technology Minister Shri Ashwini Vaishnaw. SAMRIDH is part of a larger goal of the government to create a conducive platform to Indian Software Product start-ups to enhance their products and secure investments for scaling their business. The programme is being implemented by MeitY Start-up Hub (MSH).
Speaking at the launch of the scheme, Vaishnaw said that the initiative not only provides funding support to startups but also helps in bringing skill sets together which will help them to become successful. The minister said that society requires lots of initiatives, new products and new services which will create a better life for the marginalised sections of the society and for those who are at the bottom of the pyramid and are living in remote parts of the country, where mainstream development has eluded them.
“Employment in traditional as well as new-age industries is a stated mission of our government. Initiatives and schemes like SAMRIDH will help accelerate the implementation of that vision,” said the minister. According to MeitY secretary Ajay Prakash Sawhney, SAMRIDH scheme will pick up start-ups that are ready for the acceleration stage and will provide them with funding support and mentorship.
Aims to enhance software start-ups
SAMRIDH is part of a larger goal to create a conducive platform to Indian Software Product start-ups to enhance their products and secure investments for scaling their business.