Startup Accelerator of MeitY for Product Innovation, Development and Growth (SAMRIDH) Scheme

The SAMRIDH scheme is a flagship initiative by the Ministry of Electronics and Information Technology (MeitY) designed to bridge the gap between early-stage software product startups and the acceleration support required for market expansion. Launched under the Startup Hub, it focuses on scaling Indian startups that have a Minimum Viable Product (MVP) into successful global enterprises.

What is this scheme?

SAMRIDH stands for Startup Accelerator of MeitY for Product Innovation, Development and Growth. Unlike traditional grant-based schemes, SAMRIDH operates through selected business accelerators. It provides matching funding for startups and focuses on enhancing the software product ecosystem in India. The scheme aims to support 300 startups by providing them with international networking, customer connect, and investment opportunities to help them scale globally.

Who is eligible?

• The startup must be registered as a private limited company in India.
• The startup must have a software product offering with an existing Minimum Viable Product (MVP).
• The startup must have a Proof of Concept (PoC) or be at the early traction stage.
• The startup should be incorporated for less than 10 years as per DPIIT norms.
• Accelerators applying to host the scheme must have at least 3 years of experience in running acceleration programs.

How much money?

The scheme provides a funding of up to ₹40 Lakhs to the startup based on its current valuation and growth stage, provided as matching investment alongside the accelerator's contribution. Mentorship and market access services are also included.

Documents needed

1. Certificate of Incorporation
2. DPIIT Recognition Certificate
3. Pitch Deck covering Product-Market Fit
4. Financial Statements or Audited Balance Sheets
5. Details of existing investors/cap table
6. Proof of Minimum Viable Product (MVP)

How to apply (step by step)

1. Visit the MeitY Startup Hub (MSH) official portal.
2. Check for open ‘Calls for Applications’ specifically for startups under the SAMRIDH program.
3. Register the startup profile on the MSH portal.
4. Select an empanelled accelerator that aligns with your product niche.
5. Submit the application form with business details and scaling plans.
6. Participate in the evaluation and pitching sessions organized by the MeitY-selected accelerators.
7. Upon selection, enter the acceleration program and receive matching funding.

Important dates

Conclusion

The SAMRIDH scheme is a vital catalyst for the Indian software startup ecosystem. By combining government financial backing with the strategic expertise of seasoned business accelerators, it ensures that promising software products don't just survive but thrive in competitive international markets. Founders looking to transition from product development to rapid market scaling should closely monitor MeitY Startup Hub for upcoming cohorts.