The Ministry of Electronics and Information Technology (MeitY) is actively driving the growth of India’s software product industry under the National Policy on Software Products (NPSP) – 2019. This initiative includes comprehensive support for Indian software startups through various programs such as Centre of Excellences, Technological Incubation and Development of Entrepreneurs (TIDE), Next Generation Incubation Scheme (NGIS), ICT Grand Challenges, and Gen-Next Support for Innovative Startups (GENESIS). These programs aim to empower startups by fostering innovation and business development in the digital sector.
SAMRIDH: Empowering Startups Under NPSP 2019
SAMRIDH (Startup Accelerators of MeitY for Product Innovation, Development, and Growth) is a key programme under the NPSP 2019, launched by MeitY in August 2021. The initiative aims to accelerate 300 software product startups, providing financial support with a total budget of ₹99 crore over four years. SAMRIDH helps startups become market-ready by offering services such as product validation, business planning, investor connections, and international expansion. Additionally, MeitY provides matching funding of up to ₹40 lakh for eligible startups under this scheme. The MeitY Startup Hub (MSH) and Digital India Corporation (DIC) oversee the implementation of SAMRIDH.
SAMRIDH’s Diverse Accelerator Network
On 4th September 2024, MeitY Secretary Sh. S. Krishnan launched the second cohort of SAMRIDH, as part of the government’s 100-day agenda to select and support 125 startups, pushing towards the goal of nurturing 300 startups. Accelerators from across India can apply to be part of this programme and support innovative startups in areas such as health-tech, ed-tech, agri-tech, fin-tech, SaaS, consumer-tech, and sustainability.
First Cohort Success
The first cohort of SAMRIDH successfully selected 22 accelerators from 12 states through an open call for proposals. These accelerators, comprising government-backed organizations, academic institutions, and early-stage startup funding platforms, are key players in the ecosystem, selecting startups for support based on a multi-level screening process.
For more information on applying for the second cohort of SAMRIDH, visit: https://msh.meity.gov.in/schemes/samridh.
Keep watching our YouTube Channel ‘DNP INDIA’. Also, please subscribe and follow us on FACEBOOK, INSTAGRAM, and TWITTER.