Minister of Electronics and Information Technology (MeitY) launched Startup Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH) programme.
- The SAMRIDH signifies: Start-up Accelerators of MeitY for Product Innovation, Development and growth.
- The programme will support 300 IT-based startups for a duration of 6 months.
- The programme aims to create 100 unicorns from the selected IT/Software based startups by offering them funds, mentor guidance and access to the markets.
- Under the programme, the ministry will grant seed capital of upto Rs 40 lakh and mentor guidance to the selected startups.
- The programme will be executed on the basis of Ycombinator, which is a successful startup accelerator initiative in the United States.
- Through this programme, the software-based startups will be able to enhance their products, upscale their businesses and enhance capacity building.
- The launching of the programme was made by Union Minister MeitY, Ashwini Vaishnav.