MeitY Launches 2nd Cohort of SAMRIDH to Support 125 Startups with Funding and Mentorship

The Ministry of Electronics and Information Technology (MeitY) has launched the second cohort of the Startup Accelerators of MeitY for Product Innovation, Development and Growth (SAMRIDH) initiative. This program, aimed at accelerating Indian software product startups, will select and support 125 new startups through potential accelerators across India. The initiative is part of MeitY’s efforts to foster innovation, growth, and global competitiveness in India’s software product industry.

SAMRIDH: Empowering Indian Software Startups

Launched in August 2021, SAMRIDH is a flagship program under the National Policy on Software Products (NPSP) – 2019. It is designed to assist 300 software startups over four years with an allocated budget of ₹99 crore. The SAMRIDH program is implemented through established accelerators across India, offering comprehensive support, including business planning, investor connections, product-market fit, and global expansion strategies. Each selected startup can receive up to ₹40 lakh in matching funding from MeitY.

The first cohort, launched previously, saw participation from 22 accelerators from 12 states, with a focus on areas such as health-tech, ed-tech, agri-tech, consumer-tech, fintech, Software as a Service (SaaS), and sustainability.

Key Highlights of the Second Cohort

On September 4, 2024, the Secretary of MeitY, Shri S. Krishnan, launched the second cohort of the SAMRIDH program. This launch is part of the Government of India’s 100-day agenda, aiming to nurture and accelerate 125 startups. The selected startups will gain access to invaluable mentorship and funding opportunities through partnerships with established accelerators. Startups in fields such as healthcare, education, agriculture, consumer technology, and fintech will benefit from expert guidance and business support.

A Diverse Network of Accelerators

SAMRIDH works with a wide range of accelerators, including government-supported organizations, academic institutions, private sector entities, and early-stage startup funding platforms. These accelerators are responsible for selecting startups based on a multi-level screening process, ensuring the selection of high-potential companies for support. The accelerators provide startups with tailored assistance, helping them scale and succeed in a competitive market.

How to Apply for SAMRIDH’s Second Cohort

Interested accelerators can apply for the second cohort of SAMRIDH by visiting the official MeitY Start-up Hub (MSH) website at msh.meity.gov.in. With SAMRIDH, the government aims to continue nurturing a vibrant startup ecosystem, driving innovation, and contributing to India’s digital economy.

The SAMRIDH initiative represents a crucial step in strengthening India’s position as a global software powerhouse. By providing financial support, expert mentorship, and networking opportunities, the program aims to help Indian startups realize their full potential, create innovative products, and contribute to the country’s growing digital economy.

With the launch of the second cohort, MeitY continues its commitment to fostering innovation and entrepreneurship in India, helping startups thrive in today’s rapidly evolving technological landscape.