MeitY to Support Accelerators Via SAMRIDH Program

- Advertisement -

Accelerators who wish to apply should have been in the business of incubation for more than three years and supported more than 50 start-ups….

The Ministry of Electronics and IT (MeitY) has announced the launch of SAMRIDH program. The SAMRIDH scheme will support existing and upcoming Accelerators to select and accelerate potential product based startups to scale. The program will focus on accelerating the startups by providing customer connect, investor connect and
internationalization connect services

Accelerators who wish to apply should have been in the business of incubation for more than three years and supported more than 50 start-ups of which at least 10 have received non-public investment.

- Advertisement -

Selection of accelerators will be done by an expert committee comprising representatives from Government, Industry, and Investors. Accelerators with prior experience of running cohorts shall be prioritized over other incubations applying for SAMRIDH.

It is proposed that MeitY Startup Hub (MSH), shall act as the implementing agency
for SAMRIDH. MSH will take equity in Start-Ups for Government’s contribution via
Promissory/SAFE Note, same as accelerator which will be utilized for self
sustainability of the program.

The accelerator will not be allowed to take any equity for services provided
under the scheme and value addition so achieved due to such services, as
scheme provisions financial support to the accelerator.

However, Accelerators are encouraged to take equity from the start-ups from such
investments in the selected start-up based on a SAFE / Promissory Note.

For the Government funding in the start-up, Meity Startup Hub, the proposed
implementing agency of SAMRIDH will utilize the same investment vehicle as
the accelerator / investor which will be utilized for self sustainability of the
program.

Document Here – https://www.meity.gov.in/writereaddata/files/SAMRIDH%20Scheme%20Document.pdf

- Advertisement -

Most Popular Articles

Infineon, Stellantis Partner To Advance Next-Gen Vehicle Power

0
With a dedicated Joint Power Lab and secured supply agreements, the partnership is set to drive transformative advancements in EV performance, cost-effectiveness, and the...

Audi Launches New EV Brand In China, Drops 4-Ring Logo

0
On Thursday, Audi introduced a new electric vehicle brand in China, branding the cars solely with the name 'AUDI' instead of its traditional four-ring...
IIT Bhubaneswar

IIT Bhubaneswar Partners MOSart Labs To Boost Engineering Skills In Chip Industry

0
The aim is to help students with essential skills in areas such as very-large-scale integration (VLSI), semiconductor technology, analog and digital design, validation, and...
Jaguar concept EV

JLR Highlights Its Biggest Reinvention With The Concept Car Jaguar Design Vision

0
The four-door GT is anticipated to be Jaguar's most powerful model to date. Its targeted range is approximately 430 miles (700 kilometers), and its...

ISE Labs Expands With New OSAT Facility In Mexico

0
Turbocharging its growth in North America’s tech hub, ISE Labs is set to build an OSAT semiconductor facility in Jalisco, Mexico, eyeing to create...

“Adoption Of IoT-Enabled SMT Machines Is Still In Early Phases” – Pradeep Tandon, Director...

0
While electronics are becoming smarter through the Internet of Things, is electronics manufacturing following suit? Pradeep Tandon, Director for India, Middle East, and SAARC...
Dr Yashodhan P. Gokhale, Vice President for Battery Technology, JSW Energy

Charge Forward: High-Voltage Batteries And MSMEs Can Fuel India’s EV Revolution

0
A nuanced explanation of low- and high-voltage EV batteries by Dr Gokhale, Vice President for Battery Technology at JSW Energy, illuminates their advancements and...
Sanjay Gupta, CDO & Global Head of Engineering, L&T Semiconductor Technologies

Can MSMEs Contribute And Profit From The Semicon Boom?

0
Semiconductor manufacturing often requires significant investment, typically feasible only for governments or large corporations. But are there opportunities for MSMEs as well? We spoke...
N.P. Ramesh, COO and Co-Founder, Orb Energy

“We Ensured Customers’ Monthly EMI Would Be Equal To Or Less Than Their Electricity...

0
In a conversation with Nitisha from EFY, N.P. Ramesh of Orb Energy outlines the early financing challenges customers faced. He explains how Orb Energy’s...

“Government Policy Should Equitably Address All Electric Vehicles: Extend Subsidies To Retrofits Or Remove...

0
Aryaman Raghuvanshi from EFY engages with Pramod Narendra, Head of Brand Management and Retail Network at Starya Mobility, to explore the overlooked potential of...

Wireless Light-Based Communication With Velmenni’s Technology

0
Velmenni is at the forefront of wireless communication innovation with its pioneering light-based technologies, Li-Fi and LC Link. Founded by Deepak Solanki in October 2014...

Harnessing AI Technology For Efficient Pest Management

0
AI-Genix, an agri-tech startup, is transforming pest management for farmers through advanced AI-enabled systems that precisely target harmful pests. In an industry where pesticides and...

One Charger To Charge All Your Devices

0
Now, there is no need to carry different chargers for different products. This Bhubaneswar startup has launched a universal 65W charger using GaN technology...

Karnataka Government Initiative Promises ₹5M To Tech Startups

0
Boosting innovation and entrepreneurship across the state’s vibrant ecosystem, Karnataka launched Elevate 2024 and KAN, offering grants up to ₹5 million for startups. On Tuesday,...

CastNX Tech Startup Secures ₹232M For Power Electronics Growth

0
Eyeing to boost R&D and produce 100,000 variable frequency drives by 2026, Indian power electronics startup CastNX has secured ₹232.2 million from Plutus Investments. CastNX...

Industry's Buzz

Learn From Leaders

Startups