SUMMARY
- MeitY has launched the second cohort of Samridh to support 125 startups.
- The scheme provides up to ₹40 lakh in funding to accelerate startups’ growth.
- MeitY is seeking accelerator partners, with applications due by October 2.
MeitY (Ministry of Electronics and Information Technology) has unveiled the second cohort of the Startup Accelerators of MeitY for Product Innovation, Development, and Growth (Samridh) scheme, aimed at supporting 125 startups with funding and mentorship. The program, designed to accelerate India’s software product industry, offers startups access to potential accelerators and funding support of up to ₹40 lakh.
125 Startups will receive funding support under the second cohort of Samridh.
The scheme focuses on helping startups improve products and attract investments for business expansion.
The first cohort included 22 accelerators from 12 states across sectors like health tech, edtech, agritech, fintech, and sustainability.
India, while having over 500 incubators, is still developing its accelerator ecosystem. The Samridh scheme aims to bridge this gap by encouraging accelerators like K-Start, T-Hub, Axilor Ventures, and others to provide 6-month accelerator programs for selected startups. The initiative is part of the government’s 100-day agenda to promote sustainable growth and boost the software product industry.
The Samridh program partners with accelerators to support startups in product development, business planning, investor relations, and international expansion. Selected accelerators will receive a budget of up to ₹20 lakh to create tailored acceleration programs. Each cohort will support 5 to 10 startups.
MeitY is now inviting existing and upcoming accelerators to apply for partnership in the Samridh scheme. The deadline for applications is October 2. Accelerators must meet specific criteria, including at least 3 years of incubation experience and supporting over 50 startups.
Launched in 2021, under the National Policy on Software Products – 2019.
Aims to support 300 startups with a total funding of ₹99 crore over four years.
Provides startups with services like product development, networking with angel investors, and international market expansion.
