SAMRIDH scheme_00.1
UPSC Exam   »   How to Prepare for UPSC CSE Mains Examination: Step-by-Step Guide for Beginners   »   SAMRIDH scheme

SAMRIDH scheme

 

Relevance

  • GS 3: Indian Economy and issues relating to planning, mobilization, of resources, growth, development and employment.

 

Context

  • Start-up Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH)” programme was launched by Ministry of Electronics & Information Technology.
  • The mission objective is to create a conducive platform to Indian Software Product start-ups to enhance their products and securing investments for scaling their business.

 

Key points

  • The programme is being implemented by MeitY Start-up Hub (MSH).
  • The SAMRIDH scheme will make our start-ups self-sufficient and build confidence in our start-up community.
  • The SAMRIDH scheme for start-ups will focus on accelerating the 300 start-ups by providing customer connect, investor connect, and international immersion in next three years.
  • Also, an investment of up to ₹ 40 lakh to the start-up based on current valuation and growth stage of the Start-Up will be provided through selected accelerators.
  • It will also facilitate equal matching investment by the accelerator / investor.
  • The programme aims to further the Indian start-up growth which has seen the emergence of 63 Unicorns—the third largest Unicorn hub globally with a total valuation of 168 Bn USD.

 

SAMRIDH scheme_50.1

 

Expected benefits

  • SAMRIDH scheme Meity will not only provide the funding support to the start-ups but will also help in bringing skill sets together which will help them to become successful.
  • Technology and energy of youngsters is a great potential source of energy for inclusive development.
  • Initiatives and schemes like SAMRIDH will help achieve the vision of providing employment in traditional as well as new age industries.
  • SAMRIDH scheme will pick up start-ups that are ready for acceleration stage and will provide them with funding support, mentorship and a lot of other support that is required by start-ups at this stage.

 

Defence India Startup Challenge 5.0

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