The IT Ministry on Thursday announced the second cohort of its startup accelerator, where 125 early-stage startups, selected and supported through potential accelerators, will be provided with financial support and mentorship.
The last date for submitting applications under the MeitY Startup Accelerators for Innovation, Product Development and Growth (SAMRIDH) programme is October 2.
In the first cohort, 22 accelerators from 12 states were selected through open calls for proposals. These accelerators then selected 5-10 startups each in the areas of health tech, ed tech, agri tech, consumer tech, fintech, software as a service (SaaS), and sustainability through a multi-tiered selection process.
As a second cohort, it is part of the government’s 100-day agenda to select and support 125 startups through potential accelerators in order to achieve the goal of nurturing 300 startups.
MeitY said it is working towards the growth of India’s software products industry under the National Software Products Policy (NPSP)-2019.
Launched in August 2021, the SAMRIDH programme aims to support 300 software product startups with an investment of Rs 99 crore over a period of 4 years.
The scheme is being implemented by MeitY Start-up Hub (MSH) and Digital India Corporation (DIC).
“SAMRIDH is being implemented through potential and established accelerators across India providing services like product-market fit, business plans, connecting investors and international expansion for startups, in addition to matching funding of up to Rs 40 lakh by MeitY,” the government said.
According to the Ministry, the domestic software product industry, including startups, is being supported through various programmes such as the Centre of Excellence, the Technological Entrepreneurship Incubation and Development Programme (TIDE), the Next Generation Incubation Scheme (NGIS), the ICT Grand Challenges, the Gen-Next Support for Innovative Start-ups (GENESIS), etc.
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