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News: MeitY’s SAMRIDH Programme has supported 5 Startups through Accelerator-led Innovation.
About SAMRIDH Programme
- Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) programme is to support existing and upcoming Accelerators to select and accelerate potential product based startups to scale.
- Nodal Ministry: Ministry of Electronics and Information Technology (MeitY).
- Implementing agency: It is being implemented by MeitY Start-up Hub (MSH), Digital India Corporation (DIC).
- Focus: The program will focus on accelerating the startups by providing customer connect, investor connect and internationalization connect services.
- Targets: It is designed to accelerate around 300 Startups through existing and upcoming Accelerators in Health-tech, Ed-tech, Agri-tech, Consumer-tech, Fin-tech, Software as a Service (SaaS) and sustainability sectors.
- Under SAMRIDH programme, MeitY Start-up Hub (MSH) monitors and evaluates the performance of selected accelerators based on quantitative and qualitative parameters of the acceleration programme.
- It also tracks revenue and valuation growth of supported startups on an annual basis.
- Financial support: It provides financial support of ₹2 lakh per startup to selected accelerators, along with matching funding to startups up to a maximum of ₹40 lakh, in accordance with programme guidelines.
- Performance: During the last five years, 7 accelerators from the State of Andhra Pradesh submitted Expressions of Interest (EoI) under the SAMRIDH programme.
