an image of 300 startup in india

MeitY to fund 300 early-stage startups in India through new Samridh programme

MeitY announced the Startup Accelerator for Product Innovation, Development & Growth (SAMRIDH) program, which aims to help growing startups.

 

MeitY announced the Startup

The Ministry of Electronics and Information Technology (MeitY), on Wednesday, announced the Startup Accelerator for Product Innovation, Development & Growth (SAMRIDH) programme, which aims to help growing startups in India. The programme was announced in the annual report of the MeitY earlier this year and was under approval at the time.

“The part when an idea is being converted into a product, and the product is being scaled, is the most vulnerable part (of a startup). As we all know more than 50% of startups are not able to cross this bridge due to various reasons,” said Ashwini Vaishnaw, minister of electronics and information technology.

Government invited existing startup

The minister also said that the government wants to scale up the networks of incubators and startups to 10x, 20x and more.

The government has invited existing startup accelerators to partner with and will provide funding of up to 40 lakh to them. The scheme claims to fund 300 early-stage startups that are close to the product development stage over a period of time.

Only accelerators that have been in the incubation business for at least three years and supported more than 50 startups, with at least 10 having a non-public business will be able to apply for the scheme. They must also have operations in India and the necessary space and infrastructure to be eligible.

This isn’t the first time the government has partnered with startup accelerators. On August 7, the MeitY Startup Hub joined hands with India Accelerator under a program called SOMA, which aims to promote deep tech startups in the country. MeitY Startup Hub is another program under MeitY that aims to promote startups in the country.

an image of Advertisement

Follow us on FacebookLinkedin, and Instagram to get timely updates about start-ups
What kind of articles do you want to see on our website. Please mail us at gurvinder@chalgenius.com

 

You also want to feature your start-ups here. No Worries. Call or Whatsapp at 8910430165. Please click to know more about us

Chalgenius is not just a media site. It creates more business opportunities for you by connecting you with thousands of potential customers, investors, accelerators, and mentors across the country. Come grow your business with us. Contact us at 8910430165 or mail at chalgeniusss@gmail.com for further details.

 

Get more stuff like this

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

Leave a Comment

Your email address will not be published.

Translate »

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.