Over 300 Startups Being Supported Under SAMRIDH Programme, Rs 93.75 Cr Funds Disbursed: Mos Meity

(MENAFN- KNN India) New Delhi, Feb 5 (KNN) The Startup Accelerator of MeitY for Product Innovation, Development and Growth (SAMRIDH) programme aims to support around 300 startups across sectors such as health-tech, ed-tech, agri-tech, consumer-tech, fintech, software-as-a-service (SaaS) and sustainability, Minister of State for Electronics and IT Jitin Prasada said in a written reply a question in the Lok Sabha on Wednesday.

Under the programme, 186 accelerators submitted expressions of interest, of which 43 were selected across 16 states.

Startups Accelerated and Funds Disbursed

According to the minister, 373 startups have been selected and accelerated under the programme so far, of which 241 have secured matching funding. A total of Rs 93.75 crore has been disbursed over the last five years.

State-wise participation includes Karnataka (69), Tamil Nadu (35), Uttar Pradesh (35), Telangana (34), Delhi (31), Haryana (28), Maharashtra (26), Kerala (21), Rajasthan (19), Odisha (16), West Bengal (15), Goa (14), Gujarat (13), Madhya Pradesh (6), Sikkim (6), and Andhra Pradesh (5).

Funding and Monitoring Framework

The MeitY Start-up Hub (MSH), operating under the Digital India Corporation, monitors and evaluates the performance of selected accelerators using both quantitative and qualitative parameters. This includes tracking revenue growth and valuation of supported startups on an annual basis.

SAMRIDH provides financial assistance of Rs 2 lakh per startup to selected accelerators, along with matching funding of up to Rs 40 lakh per startup, in line with programme guidelines.

(KNN Bureau)

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