Current AffairsEconomics

SAMRIDH SCHEME

Minister of Electronics and Information Technology (MeitY) launched Startup Accelerators of MeitY for pRoduct Innovation, Development and growth (SAMRIDH) programme.

  • The SAMRIDH signifies: Start-up Accelerators of MeitY for Product Innovation, Development and growth.
  • The programme will support 300 IT-based startups for a duration of 6 months.
  • The programme aims to create 100 unicorns from the selected IT/Software based startups by offering them funds, mentor guidance and access to the markets.
  • Under the programme, the ministry will grant seed capital of upto Rs 40 lakh and mentor guidance to the selected startups.
  • The programme will be executed on the basis of Ycombinator, which is a successful startup accelerator initiative in the United States.
  • Through this programme, the software-based startups will be able to enhance their products, upscale their businesses and enhance capacity building.
  • The launching of the programme was made by Union Minister MeitY, Ashwini Vaishnav.
Tags: Current Affairs, Economics

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