GOVT LAUNCHE SCHEMES TO SUPPORT 300 STARTUPS

The ministr electronics and informa technology (Meity) on Wed day, announced the Sta Accelerator for Product I vation, Development & Gro (SAMRIDH) program which aims to help grow startups in India. The gramme was announced in annual report of the Meity lier this year and was un approval at the time.

“The part when an ide being converted into a prod and the product is being sc is the most vulnerable part startup). As we all know m than 50% of startups are able to cross this bridge du various reasons,” said Ash Vaishnaw, minister of elect ics and information tech ogy.

The minister also said the government wants to s up the networks of incuba and startups to 10x, 20x more.

The government has inv existing startup accelerato partner with the governm and will provide funding o to ₹40 lakh to them.

The scheme claims to f 300 early-stage startups are close to the product de opment stage over a perio time.

Only accelerators that h been in the incubation busi for at least three years and ported more than 50 start with at least 10 having n public business will be ab apply for the scheme. T must also have operation India and the necessary s and infrastructure to be e ble.

This isn’t the first time government has partnered startup accelerators. August 7, the Meity Sta Hub joined hands with I Accelerator under a prog called SOMA, which aim promote deep tech startup the country.

Meity Startup Hub another programme under Meity that aims to prom startups in the country.