About the Program
Startup Accelerator of MeitY for Product Innovation, Development and Growth
A 4-Month Acceleration Program in collaboration with the MeitY Startup Hub, Ministry of Electronics and Information Technology (MeitY), Government of India.
The Government of India has launched a comprehensive initiative to foster innovation and support start-ups through its Startup Accelerator of MeitY for Product Innovation, Development, and Growth (SAMRIDH) program, addressing the need for an accelerator program that drives social impact and scales solutions for India’s challenges. The program aims to support 300 tech Start-Ups in 3-year duration with cohort size of 5-10 Start-Ups.
SAMRIDH Program is conceptualized and being implemented for extending acceleration services to start-ups along with matching contribution support of up to ₹40 lakh.
Focus Area
IoT
Artificial Intelligence
Robotics
Health Tech
AI in Agriculture
Ed Tech
BlockChain
AR / VR
Bio Tech
Eligibility Criteria
- Startup should be DPIIT registered
- At least 51% of the company should be owned by Indian founder
- Technology based startups
- At MVP or early traction stage
- Secured a minimum of ₹40L hard commitment from an Angel or VC, as SAMRIDH funding is released only as matching co-investment.
Program Offerings
Equity Upto 40 Lakhs
Capital for building an MVP or pilot validation (in the form of grants and equity) upto 40 lakhs
Mentorship
1:1 Mentoring and coaching curated to the startups’ goals and stages
Network Ccollaborators
Access to a network of like-minded collaborators and partners
Follow-on Funding
Connect with investors for follow-on funding.
Access Resources
Access to IIM Udaipur Incubation Centre’s co-working space and resources.
Selection Process
Step One
After the receipt of proposals, IIMUIC will check the eligibility of each applicant
Step Two
Applicants who are eligible will then be scrutinised by the screening committee based on certain qualifying criteria to present before the expert committee. Screening will be subject to the parameters other than the eligibility, such as innovation, potential for commercialization and venture creation, team capability and commitment, etc.
Step Three
Only shortlisted participants will be notified about the final presentation to the expert committee.
Step Four
The decision of the expert committee for approval and funding support will be final, firm and binding. IIMUIC will not provide any clarification/ explanation with regards to the applications that are not selected
Step Five
The final decision of the expert committee will be communicated only to the approved applicants via email.