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GS-III : Economic Issues Aatmnirbhar Bharat

26 August, 2021
12 Min Read

SAMRIDH Scheme

Startups are new types of wealth creators in our country. The need of the hour is to relentlessly work towards making India’s Startups and the Startup Ecosystem the best in the whole world.
This vision of the Prime Minister was also emphasised by Electronics and Information Technology Minister Shri Ashwini Vaishnaw in a recent event whereby he stated, “Government will support startups and entrepreneurs in the most challenging phase which is the initial risk phase and also stated to serve 1.3 billion people India will scale up the network of incubators and accelerators to phenomenal levels.”
The above statements of Shri Ashwini Vaishnaw today have taken the shape of the “Start-up Accelerators of MeitY for Product Innovation, Development and Growth (SAMRIDH)” programme, which was launched today by the Ministry of Electronics & Information Technology so as to create a conducive platform to Indian Software Product star-ups to enhance their products and securing investments for scaling their business.
The programme is being implemented by MeitY Start-up Hub (MSH).
The initiative will not only provide funding support to the startups but will also help in bringing skill sets together which will help them to become successful.
SAMRIDH scheme will pick up startups that are ready for the acceleration stage and will provide them with funding support, mentorship and a lot of other support that is required by startups at this stage.
The SAMRIDH programme will focus on accelerating the 300 start-ups by providing customer connect, investor, connect, and international immersion in the next three years.
Also, an investment of up to? 40 lakh to the start-up based on current valuation and growth stage of the Start-Up will be provided through selected accelerators.
It will also facilitate equal matching investment by the accelerator/investor.
The programme aims to further the Indian start-up growth which has seen the emergence of 63 Unicorns is now the third largest Unicorn hub globally with a total valuation of 168 Bn USD.

Source: PIB

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