SAMRIDH scheme boosts 373 Indian startups as government disburses over Rs 93 crore in funding
New Delhi, February 4
The Ministry of Electronics and Information Technology has announced its mission to scale India's digital economy, revealing that 373 startups have now received critical support through the Startup Accelerator of MeitY for Product Innovation, Development, and Growth programme.
The Ministry noted that through this programme it "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."
By focusing on these high-impact sectors, the initiative ensures that homegrown tech solutions receive the mentorship and capital needed to compete globally.
The programme operates through a competitive selection process that identifies the best-performing business mentors nationwide. According to the official release, "186 accelerators submitted Expressions of Interest, leading to the selection of 43 top accelerators across 16 states."
These chosen partners serve as the primary engines of growth, and to ensure they have the resources to guide their cohorts effectively, the government provides targeted financial incentives.
The release notes that "SAMRIDH provides financial support of Rs 2 lakh per startup to selected accelerators," which helps cover the operational costs of nurturing these young companies.
Funding is a central pillar of the initiative, particularly through a "matching" model that encourages private investment. Of the accelerated companies, 241 have secured this additional capital, resulting in a total disbursement of Rs 93.75 crore to date.
The Ministry explained that the scheme provides "matching funding to startups up to a maximum of Rs 40 lakh, in accordance with programme guidelines." This approach not only provides a financial safety net but also validates the startups' business models in the eyes of other investors.
The Ministry highlighted that the MSH "monitors and evaluates the performance of selected accelerators based on quantitative and qualitative parameters of the acceleration programme."
Geographically, the programme's impact has been widespread, with certain states emerging as major hubs. Karnataka leads the pack with 69 startups accelerated and over Rs 15 crore in funds disbursed, followed closely by Delhi and Tamil Nadu.
Even as traditional tech hubs dominate, the programme has expanded to 16 states, demonstrating that innovation is thriving across the country.
— ANI
Reader Comments
As someone working in the startup ecosystem in Bangalore, I've seen the direct impact of SAMRIDH. The mentorship from selected accelerators is often more valuable than the cash. However, I hope the monitoring is rigorous. We need to ensure this public money is creating sustainable businesses, not just funding ideas that fizzle out in 2 years.
Rs 93 crore for 373 startups? That's an average of ~25 lakhs per startup. For early-stage companies in sectors like Agri-tech and Health-tech, this can be a game-changer. It's the seed capital that helps them build a prototype or get their first customers. Hope they focus on startups solving real Indian problems.
Great to see a structured public-private partnership model. Selecting 43 accelerators from 186 applications shows there was real competition. The key will be transparency in how these accelerators are evaluated on "quantitative and qualitative parameters." The public deserves to know the metrics of success for their tax rupees.
While this is positive, the article doesn't mention how many of these 373 startups are still operational or have become profitable. Funding is one step. The real test is market survival. Also, hope states beyond the top 3 get a larger share in the next phase. We need to build multiple innovation hubs across India.
Focus on Health-tech and Agri-tech is brilliant! These are critical sectors for our country. If a startup can improve farm yields or make healthcare affordable in tier-2 cities, that's a bigger win than another food delivery app. Jai Hind! 🙏
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