According to the information submitted by union minister of state (MoS) for Electronics and Information Technology in Lok Sabha, the Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) programme, aims to accelerate around 300 startups through existing and upcoming Accelerators in Health-tech, Ed-tech, Agri-tech, Consumer-tech, Fin-tech, software as a service (SaaS), and sustainability. Under the SAMRIDH programme, 186 accelerators submitted expressions of interest, leading to the selection of 43 top accelerators across 16 states.
Ministry of electronics and IT (MeitY) Start-up Hub (MSH) under Digital India Corporation (DIC) monitors and evaluates the performance of selected accelerators based on quantitative and qualitative parameters of the acceleration programme, which also tracks revenue and valuation growth of supported startups on an annual basis.
SAMRIDH provides financial support of 0.2 million per startup to selected accelerators, along with matching funding to startups up to a maximum of Rs 4 million, in accordance with programme guidelines. Of the 373 startups selected and accelerated, 241 have secured matching funding.
