The Ministry of Electronics and Information Technology (MeitY) is working for the growth of India’s software product industry under the National Policy on Software Products (NPSP) – 2019. Indian software product industry including startups are being supported through various programmes such as Centre of Excellences, Technological Incubation and Development of Entrepreneurs (TIDE) programme, Next Generation Incubation Scheme (NGIS), ICT Grand Challenges, Gen-Next Support for Innovative Startups (GENESIS) etc.
About SAMRIDH: Bolstering Indian Software Startups
SAMRIDH is a flagship programme of MeitY for startups acceleration under National Policy on Software Products – 2019. The SAMRIDH programme, launched in August 2021 aims to support 300 software product startups with outlay of ₹99 crore over a period of 4 years. SAMRIDH is being implemented through potential and established accelerators across India which provide services like making products market fit, business plan, investor connect and international expansion to startups plus matching funding upto ₹40 lakh by MeitY. The scheme is being implemented by MeitY Start-up Hub (MSH), Digital India Corporation (DIC).
As part of this programme, the second cohort SAMRIDH was launched yesterday (4th September, 2024) by Secretary, MeitY Sh. S. Krishnan. It is a part of the 100-day agenda of the Government of India to select and support 125 startups through potential accelerators so as to achieve the target of nurturing 300 startups. The interested accelerator may apply for 2nd cohort of SAMRIDH at the link below.
Eligibility of Accelerators:
- Should be a registered Section-8/Society, [Not-for-Profit Company (eligible to hold equity)], having operations in India (with valid certificate).
- The Accelerator and the team are recommended to have more than 3 years of startup experience and should have supported more than 50 start-ups of which at least 10 startups should have received investment from external Investors.
- The Accelerator should have an experience of running startup program cohorts with activities
listed as desirable under SAMRIDH program. - Have the necessary space and infrastructure to carry out activities for the start-ups.
- Should demonstrate capabilities with regard to:
a. Supporting Start-Ups for domestic and international market expansion.
b. Network/Connect with Venture Capitalist/Angel Investors.
c. On-boarded with leading business mentors.
d. Structured cohort for accelerating software product start-ups.
Deliverables from Accelerators:
To select DPIIT recognized startups and provide the following but not limited to the following services:
- Expert diagnostic sessions for market research and product positioning.
- Mentoring of Startups through experts on the basis of tech vertical.
- Legal Assistance for all matters: IP, Compliances, and others.
- Connected learning, networking through shared platform.
- Co-learning.
- Weekly meets between founders of all startups.
- Demo Day: Presentation with VCs and angel investors.
- Assistance to startups in negotiating and closing investment deals with VCs and angel investors.
Last Date For Submission: 02 October 2024
