New Delhi: The Ministry of Electronics and Information Technology (MeitY) is intensifying efforts to bolster India’s software product industry, with a focus on startups, through the National Policy on Software Products (NPSP) – 2019. Several initiatives, including the Centre of Excellence, Technological Incubation and Development of Entrepreneurs (TIDE) programme, and the Next Generation Incubation Scheme (NGIS), are already in place to support the growth of Indian startups in the software domain.
One of the flagship initiatives under the NPSP is the SAMRIDH programme, which was launched in August 2021. SAMRIDH, short for Startup Accelerators of MeitY for Product Innovation, Development & Growth, aims to provide critical support to 300 software product startups over four years, with a budget of ₹99 crore. The programme focuses on helping startups with product-market fit, business planning, investor connections, and international expansion. Through SAMRIDH, startups can receive matched funding of up to ₹40 lakh from MeitY, providing them with the necessary financial backing for growth.
The programme is being implemented by MeitY Start-up Hub (MSH), under the Digital India Corporation (DIC), and is supported by a diverse network of accelerators across the country.
Second Cohort of SAMRIDH Launched
On September 4, 2024, the second cohort of SAMRIDH was launched by MeitY Secretary S. Krishnan as part of the Government of India’s 100-day agenda. This cohort aims to select and support an additional 125 startups through established accelerators, moving closer to the programme’s target of nurturing 300 startups. Accelerators interested in participating can apply through the official SAMRIDH portal.
In the first cohort, 22 accelerators from 12 states were selected through an open call for proposals. These accelerators, which include government-supported organizations, academic institutions, private sector entities, and early-stage startup funding platforms, work to identify and support startups across various sectors. Startups focused on health-tech, ed-tech, agri-tech, consumer-tech, fin-tech, Software as a Service (SaaS), and sustainability are screened through a multi-level process, with each accelerator selecting 5 to 10 startups for support.
The SAMRIDH programme is set to drive innovation and growth in India’s burgeoning software industry, providing much-needed resources and opportunities to homegrown startups as they scale up and compete in the global market.