Program Details
Overview and Objectives
The SAMRIDH Scheme of MeitY provides startups that already have a strong solution and proof of concept with the support needed to enhance their products using innovative technologies, strengthen their business plans, and attract investments from venture capitalists and angel investors.
MeitY identified the need for an accelerator program to help startups with social impact and scalable solutions for India's challenges. Startups from various government initiatives will serve as a feeder for the SAMRIDH program, which provides a platform to refine products and secure investments for business growth.
Accelerators typically operate through cohort-based application programs and are highly selective, whereas incubators provide long-term support focused on product maturity. SAMRIDH emphasizes acceleration by enabling customer access, investor connections, and international market opportunities.
The scheme supports existing and upcoming accelerators in selecting and nurturing product-based startups to help them scale effectively.
Investment Model
- Based on the startup's growth stage, an average investment of ₹30 lakh per startup per cohort will be provided. In exceptional cases, the investment may go up to ₹40 lakh.
- The accelerator/investor will make an equal matching investment of up to ₹40 lakh (average ₹30 lakh per startup) based on the startup's valuation and growth stage.
- Accelerators will receive equity in selected startups through SAFE or Promissory Notes.
- SAFE Notes will take the legal form of Compulsorily Convertible Preference Shares (CCPS) in accordance with the Companies Act, 2013 and related rules.
- Startups may utilize an appropriate investment structure, including equity, debt, or a combination of financing instruments, as mutually agreed upon by the startup, investor, and accelerator.
- Government funding through MeitY Startup Hub will follow the same investment vehicle used by the accelerator/investor, ensuring long-term sustainability of the program.
Accelerator Services and Activities
Each cohort organized by a shortlisted accelerator can support a minimum of 5 and a maximum of 10 software product startups under the scheme.
Accelerators are expected to provide the following services:
- Expert diagnostics for market research and product positioning.
- Technical mentoring by domain experts.
- Legal assistance for intellectual property, incorporation, and regulatory matters.
- Connected learning opportunities and networking through shared platforms.
- Collaborative learning among participating startups.
- Weekly founder meetups for knowledge sharing and peer learning.
- Demo Day presentations before venture capitalists and angel investors.
- Support in negotiating and closing investment deals with venture capitalists and angel investors.
