MeitY SAMRIDH Scheme for Startups:- Numerous types of initiatives are periodically introduced in India to promote entrepreneurship. A SAMRIDH program was just introduced. The Ministry of Electronics and Information Technology launched it. The MeitY SAMRIDH Scheme will aid in the development and empowerment of new businesses around the nation. Through this program, start-ups will also have the benefit of financial aid. The general public will feel inspired to launch their projects. Enterprises encounter a variety of issues after launching their own business, which this plan aims to lessen. Read below to get detailed information related to the MeitY SAMRIDH Scheme.
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MeitY SAMRIDH Scheme for Startups 2024
The Indian government offers a variety of advantages, including financial support and initiatives, to advance the startup environment. Because of this encouragement, many citizens are motivated to launch their businesses, therefore the ministry of electronics and information technology created the MeitY SAMRIDH Scheme to provide financial support to software entrepreneurs with innovative ideas and working prototypes.
Startups will be given a platform through this program to improve their products and get funding to expand their businesses. Support will be given to the current and forthcoming accelerators so they can expand their services. According to their present valuation and growth stage, the government would fund companies under this program up to Rs 40 lakh through accelerators. The accelerators are asked to submit an online application to join MeitY as partners and offer an annual 6-month startup accelerator program. With the help of 40 cohorts, this program will support around 300 tech businesses.
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MeitY SAMRIDH Scheme Details in Highlights
| Scheme Name | MeitY SAMRIDH Scheme |
| Introduced By | Ministry of Electronics & Information Technology |
| Year | 2024 |
| Beneficiaries | Startups |
| Application Procedure | Online or Offline |
| Objective | To offer Funding to The Startups |
| Benefits | Rs 40 Lakh |
| Official Website | https://meitystartuphub.in/ |
MeitY SAMRIDH Scheme Objective
Several startups fail within four years after their establishment. Not because the items are of poor quality, but rather due to a lack of investment or a lack of skill. In light of this, the Indian government has introduced the MeitY SAMRIDH Scheme. The MeitY SAMRIDH program’s primary goal is to help businesses get the finance they need to succeed. The entrepreneurs will receive skill sets as well as financial support through this program. Startups will be accelerated by providing services for client connections, investor connections, and globally connected. The startup ecosystem will benefit greatly from this plan. Now that they have access to capital, entrepreneurs can grow their companies.
Features and Benefits of MeitY SAMRIDH Scheme
Some of the key features and benefits of the MeitY SAMRIDH Scheme are as follows:
- The government has introduced the MeitY SAMRIDH scheme to offer numerous benefits and advance the startup environment.
- Many people will be motivated to launch their businesses through this program.
- Through this program, the government will give startup businesses financial help if they have a great idea and a working prototype.
- Startups will have a forum to improve their goods and attract capital to grow their businesses.
- This plan will be implemented by the Ministry of Electronics and Information Technology.
- Under this plan, funding will be given to current and forthcoming accelerators so they can expand their services.
- The accelerators are asked to submit an online application to join MeitY as partners and offer an annual 6-month startup accelerator program.
- According to their present valuation and growth stage, the government would give entrepreneurs up to Rs 40 lakh in capital through accelerators.
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Agency for MeitY SAMRIDH Scheme Implementation
- The MeitY Startup Hub will carry out the MeitY SAMRIDH Scheme, and implementing organizations will establish a project management unit.
- This unit is in charge of putting this screen into action.
- Similar to an accelerator, the MeitY startup center will accept equity in firms in exchange for government funding through promissory notes or safe notes.
- The Scheme Management Committee will be in charge of periodically assessing how the program is doing concerning its goal.
- Additionally, a scheme management committee will be established to oversee every facet of the plan’s successful implementation.
- Additionally, this committee is in charge of directing the program and making suggestions for improvements.
MeitY SAMRIDH Scheme Eligibility Criteria
The eligibility criteria for MeitY SAMRIDH Scheme are as follows:
- It is a requirement for entrepreneurs to be from India to launch a startup.
- The accelerator must have the required space and infrastructure to carry out the startup’s mobility to take advantage of the MeitY SAMRIDH Scheme.
- Only in the past three years should the accelerator have been involved in the incubation process. At least 50 startups must have received help from the accelerator. Ten businesses must have acquired private funding, or three organizations must be operating under the SAMRIDH Scheme and collaborating on desirable activities.
- Contact a network of investors, venture capitalists, or angels
- Cohort organization to speed up deep tech software product startups
- Partnered with a respected business mentor
- Encourage entrepreneurs to enter both home and foreign markets
MeitY SAMRIDH Scheme Documents Required
The documents required for MeitY SAMRIDH Scheme are as follows:
- Passport Size Photograph
- Aadhaar Card
- Mobile Number
- Residence Certificate
- Income Certificate
- Bank Account Details
Accelerator Services and Activities
The accelerator will be responsible for creating tailored acceleration programs for the cohort and offering services such as customer connect, investor connects, capacity expansion, product enhancement, etc. to meet the demands of each firm. A maximum of 20 lakhs per cohort may be spent on the activities above, with a budget of 2 lakhs per start-up. A maximum of 10 companies and a minimum of 5 businesses that are engaged in the development of software products may be sponsored in each cohort run by the shortlisted accelerator. The services that will be offered to startups are listed below:
- Expert evaluation for product positioning and market research
- Legal aid for all issues, including IP, collaboration, and other issues
- Monitoring of startups by specialists based in the tech sector
- All startup founders gather once a week.
- Connected networking and learning through a common platform
- Helping entrepreneurs negotiate and complete investment agreements with VCs and Angel investors
- Presentation on demo day to VCs and angel investors
Procedure for Accelerator Selection
- The qualified accelerators are invited to submit expressions of interest through the implementing agencies.
- The expert group, which is made up of government, business, and investor representatives, will be in charge of choosing the accelerators.
- Priority will be given to accelerators with past expertise in managing cohorts.
Steps to Register as Startup Under MeitY SAMRIDH Scheme
Applicants need to follow the below-given steps to Register as Startups
- First of all, visit the official website of the Ministry of Electronics and Information Technology Startup i.e., https://meitystartuphub.in/
- The homepage of the website will open on the screen
- Under the Startup section, click on the Register button
- The registration form will open on the screen
- Now, fill in the form with all the required details
- Name of entity
- Website
- Status of registration with the startup India scheme
- Team size
- Stage
- Funding type
- Short description
- Registered address
- Country
- State
- City
- Zip code
- Company representative name
- Company Representatives email
- Phone number, etc
- After that, upload the company logo
- Finally, click on the Submit button to complete the registration process
Steps to Log in as Startups
Applicants need to follow the below-given steps to log in as Startups
- First of all, visit the official website of the Ministry of Electronics and Information Technology Startup
- The homepage of the website will open on the screen
- Under the Startup section, click on the Login button
- The login form will open on the screen
- Now, enter the username and the password
- Finally, click on the Login button.
- This way, you easily log in successfully.
Steps to Register as Incubator
Applicant needs to follow the below-given steps to Register as Incubator
- First of all, visit the official website of the Ministry of Electronics and Information Technology Startup
- The homepage of the website will open on the screen
- Under the Incubator section, click on the Register button
- The registration form will open on the screen
- Now, fill in the form with all the required details:
- Legal Entity Name
- Registration Number
- Name Of Incubation Center
- Website
- Meteorology Affiliated To A University Or Research And Development Organization
- Legal Status
- Registered Address
- Major Currency
- Country
- State
- City
- Total No. Of Seats
- Heating Space Available
- Workspace
- Name
- Mobile Number
- Authorized Signatory Name
- Contact Person Email
- Post
- Contact Person Name
- Contact Person’s Mobile Number Etc.
- After that, upload the company logo
- Finally, click on the Submit button to complete the registration process
Steps to Log in as Incubator
Applicant needs to follow the below-given steps to log in as Incubator
- First of all, visit the official website of the Ministry of Electronics and Information Technology Startup i.e., https://meitystartuphub.in/
- The homepage of the website will open on the screen
- Under the Incubator section, click on the Login button
- The login form will open on the screen
- Now, enter the username and the password
- This way, you easily log in successfully.
Steps to Register as Mentor
Applicant needs to follow the below-given steps to Register as Mentor
- First of all, visit the official website of the Ministry of Electronics and Information Technology Startup i.e., https://meitystartuphub.in/
- The homepage of the website will open on the screen
- Under the Mentor section, click on the Register button
- The registration form will open on the screen
- Now, fill in the form with all the required details:
- phone number
- Name of the mentor
- Domain
- Skills
- About
- Association with any organization
- Details of incubation program startup activity innovation ecosystem
- After that, upload the company logo
- Finally, click on the Submit button to complete the registration process
Steps to Log in as Mentor
Applicant needs to follow the below-given steps to log in as Mentor
- First of all, visit the official website of the Ministry of Electronics and Information Technology Startup
- The homepage of the website will open on the screen
- Under the Incubator section, click on the Login button
- The login form will open on the screen
- Now, enter the username and the password
- This way, you easily log in successfully.
Contact Details
For any other query related to the MeitY SAMRIDH Scheme, feel free to contact at the below given details:
MeitY Startup Hub
Address- Room Number: 2214,
Ministry of Electronics and Information Technology,
Electronics Niketan,
6, CGO Complex,
Lodhi Road, New Delhi-110-003
Phone Number: +91-11-24301715/24364799
Email Id: meity-sthub@gov.in
MSH Related Query
Email: meity-sthub@gov.in
Telephone: +91-11-24301419
MeitY Startup Hub
Phone Number for technical query +91-11-24301419