Govt launches SAMRIDH scheme to help startups in their initial phase
Just over a week after the newly appointed Minister of Electronics
and Information Technology (MeitY) Ashwini Vaishnaw said the government will
support startups and entrepreneurs in their initial phase, where they face most
challenges, he launched Startup Accelerators
of MeitY for Product Innovation, Development and Growth (SAMRIDH) programme on
Wednesday.
SAMRIDH will create a conducive platform for Indian software
product startups to enhance their products and secure investments for scaling
their business. The programme is being implemented by MeitY Startup Hub (MSH).
Government will support startups and entrepreneurs in the most
challenging phase which is the initial risk phase, Vaishnaw had said earlier.
The SAMRIDH initiative will not only provide funding support to
startups, but will also help in bringing skill sets together which will help
them become successful, Vaishnaw said Wednesday.
“Employment in traditional as well as new age industries is a
stated mission of our government and is also the vision of Prime Minister Shri
Narendra Modi. Initiatives and schemes like SAMRIDH will help accelerate the implementation
of that vision,” he added.
Technology can play a role in accelerating and in taking a quantum
jump in reaching out to people, which would have otherwise taken many years.
Using the energy of startups these areas can be reached within months, the
minister said.
Speaking at the launch event, MeitY Secretary Ajay Prakash Sawhney
said the SAMRIDH scheme will pick up startups that are ready for acceleration
stage and will provide them with funding support, mentorship and a lot of other
support that is required by startups at this stage.
The SAMRIDH programme will focus on accelerating 300 startups by
providing customer connect, investor connect, and international expansion
opportunities in the next three years.
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