The Union Ministry of Electronics & IT (MeitY) has launched the 2nd cohort of SAMRIDH, a startup accelerator program to boost IT-based startups.
- This initiative will select 125 startups for funding support and mentorship.
About SAMRIDH:
- SAMRIDH stands for Startup Accelerators of MeitY for Product Innovation, Development, and Growth.
- Launched in August 2021, it is a flagship program of MeitY under the National Policy on Software Products – 2019.
- The program aims to accelerate 300 software product startups over a 4-year period with a total funding of ₹99 crore.
- It supports existing and upcoming accelerators in their efforts to help startups scale by offering services such as:
- Business planning
- Product-market fit guidance
- Access to investors
- Global market expansion
- Accelerators that participate must:
- Be Not-for-Profit entities registered in India.
- Have more than 3 years of experience in supporting startups.
- Have supported over 50 startups, of which at least 10 must have secured external investment.
- MeitY Start-up Hub (MSH) and Digital India Corporation (DIC) are the implementing agencies behind this scheme.
Ref: Source
| UPSC IAS Preparation Resources | |
| Current Affairs Analysis | Topperspedia |
| GS Shots | Simply Explained |
| Daily Flash Cards | Daily Quiz |
Frequently Asked Question:
What does SAMRIDH stand for?
SAMRIDH stands for Startup Accelerators of MeitY for Product Innovation, Development, and Growth.
What is the National Policy on Software Products?
The National Policy on Software Products, 2019, aims to develop India as a global software product hub by nurturing software startups.
Why is product-market fit important for startups?
Product-market fit ensures a startup’s product satisfies market demand, which is crucial for growth and long-term sustainability.