MeitY SAMRIDH Scheme Apply Online & Registration Form | MeitY SAMRIDH Scheme Check Investment Amount & Last Date | MeitY SAMRIDH Scheme Check Implementation Process & Milestones | MeitY SAMRIDH Scheme Check Features & Benefits | MeitY SAMRIDH Scheme Check Eligibility & All Details |

The MeitY SAMRIDH Scheme was introduced by the Ministry of Electronics and Information Technology to enable applicants or citizens who wish to launch their own businesses to do so after being granted financial assistance and support. This plan will attempt to make the original and imaginative ideas a reality. Applying online is possible up until the deadline.

Through this article, we will provide you with all types of information about the MeitY SAMRIDH Scheme 2024 like purpose, Eligibility Criteria, Benefits, Features, important documents, etc. Apart from this, we will share with you the process to apply online for this scheme. To get complete information about this scheme, read this article till the end.

MeitY SAMRIDH Scheme 2024

Thanks to the MeitY SAMRIDH Scheme, citizens’ encouragement to launch their own businesses will now be expanded and strengthened. Additionally, this will assist the government in encouraging startups among aspiring business owners. We’ll soon be updating the deadline for online applications. A minimum of 40 lakhs rupees will be needed to get started. The entrepreneurs can operate the start-up for a period of four years.

Entrepreneurs wishing to launch their own businesses will receive financial support in the form of a startup capital of Rs. 40,000,000. They must apply online for the MeitY SAMRIDH Scheme in order to do this. This startup will operate for a period of four years. The government will have this amount or financial incentive as a source of funding.

Highlights Of MeitY SAMRIDH Scheme 2024

The highlights of this scheme are as follows:-

Objectives Of MeitY SAMRIDH Scheme 2024

The major objective of launching the MeitY SAMRIDH Scheme is to provide or award financial help and support in the form of startup funding option among the entrepreneurs so that they will get inspired or motivated the same for building their own business ventures or enterprises. This scheme will also provides skill set facility to the new entrepreneurs.

Another objective of launching the MeitY SAMRIDH Scheme is to award an amount of Rs. 40 Lakhs in the form of incentives so that the entrepreneurs will be able to start their own business ventures after getting the help and support provided to them by the government. This will also spread and promote the zeal of adopting entrepreneurship opportunities as their career options among the youths.

MeitY SAMRIDH Scheme Amount 2024

It is only on the basis of amount or startup amount, that the applicants or entrepreneurs will be able to run their own business ventures. The amount of incentive that will be provided or awarded to them has already been fixed in advance. An amount of Rs. 40 lakhs will be provided or granted to the entrepreneurs to run their own business ventures.

MeitY SAMRIDH Scheme Last Date 2024

As this scheme has been recently launched, the last date to apply online for this scheme has not been updated yet through the use of social networking sites. Whenever the last date of online form submission will be launched, we will update you through this article by which you will be able to get registration.

MeitY SAMRIDH Scheme Milestones

Some milestones of this scheme are as follows:-

• Promoting Entrepreneurship
• Economic Growth and Job Creation
• Fostering Innovation and Competitiveness
• Reducing Dependency on Traditional Employment
• Local and Community Development

Promoting Entrepreneurship

Providing financial awards to entrepreneurs reduces the initial financial burden of starting a business. These funds support research, product development, and market entry, encouraging innovation and the establishment of new ventures, which ultimately boosts entrepreneurship.

Economic Growth & Job Creation

Supporting entrepreneurs in launching businesses significantly contributes to economic growth and job creation. New businesses generate economic activity, offer employment opportunities, and increase tax revenue, fueling the nation’s development. This will also redress the issues of unemployment and also reduce the unemployment rates.

Fostering Innovation & Competitiveness

Entrepreneurial ventures often introduce innovative products and services, enhancing a nation’s competitiveness in the global market. Financial support empowers entrepreneurs to explore creative solutions, thereby driving economic progress and ensuring a country’s competitiveness. A zeal of competition will also get enhanced.

Reducing Dependency on Traditional Employment

Empowering entrepreneurs lessens reliance on traditional employment and formal sectors. This diversification of the workforce encourages self-reliance, potentially leading to greater economic resilience and long-term sustainable development. This will also spread the adoption of employment that are promoted traditionally to each children in home.

Local & Community Development

Entrepreneurial ventures frequently originate within local communities. Financial support for entrepreneurs benefits local economies, strengthens community ties, and overall enhances the well-being of citizens by promoting economic growth and local development.

MeitY SAMRIDH Scheme Implementation Process

The MeitY SAMRIDH scheme, launched by the government through MeitY Startup Hub, will involve active agencies in setting up Project Management Units. These units will oversee the scheme’s implementation. To ensure sustainability, government contributions will be taken in the form of secured notes or equity in startups. Additionally, a scheme management committee will be formed to oversee all program aspects and review progress, making necessary recommendations and improvements.

Some Other State Government Initiatives

There are some other initiates launched by state governments for providing vending support to the new business entrepreneurs:-

• Kerala Startup Mission (KSUM), Kerala:- KSUM provides financial assistance, incubation support, and mentorship to start-ups in Kerala. They offer schemes like the Idea Grant and Productization Grant.
• Startup Odisha, Odisha:- Odisha’s government promotes entrepreneurship through various initiatives, including the Startup Odisha Fund, which offers financial support to start-ups.
• Tamil Nadu Startup Mission (TANSEED), Tamil Nadu:- TANSEED offers financial assistance through schemes like Seed Grant Fund and Innovation Grant Fund, supporting start-ups in the state.
• Startup Karnataka, Karnataka:- The state government supports entrepreneurs through initiatives like Elevate, Idea2PoC, and the Karnataka Innovation and Technology Society (KITS).
• Uttar Pradesh Startup Policy, Uttar Pradesh:- The state encourages entrepreneurship through financial incentives, tax benefits, and incubation support for start-ups.
• Mukhyamantri Yuva Swabhiman Yojana, Madhya Pradesh:- This scheme offers financial assistance to unemployed youth for starting their own businesses.
• Punjab Startup Hub, Punjab:- The Punjab government provides funding opportunities and incubation support to promote entrepreneurship in the state.
• Telangana State Innovation Cell (TSIC), Telangana:- TSIC supports innovators and start-ups through various funding programs like the T-IDEA (Telangana Technology Innovation for Startups) program.
• Rajasthan Startup Policy, Rajasthan:- The state government offers financial incentives, grants, and tax exemptions to boost entrepreneurship and innovation.
• Gujarat Startup and Innovation Policy, Gujarat:- Gujarat encourages start-ups with financial aid, incubation centers, and networking opportunities under its startup policy.

Delegated Bodies

The list of delegated bodies under MeitY SAMRIDH Scheme are as follows:-

• Small Initiatives Development Bank of India (SIDBI)
• Ministry of Commerce & Industry, Govt of India
• Ministry of Micro, Small and Medium Enterprises

Role of SIDBI

Certainly, here are five key roles of the Small Industries Development Bank of India (SIDBI) in creating entrepreneurship opportunities:-

• Financial Support:- SIDBI provides financial assistance to small and medium-sized enterprises (SMEs) and startups through various loan schemes, including working capital loans, term loans, and credit guarantees.
• Credit Guarantee:- SIDBI offers credit guarantee schemes that encourage banks and financial institutions to provide loans to SMEs by partially covering the risk, making it easier for entrepreneurs to access capital.
• Promoting Innovation:- SIDBI supports innovation and technology adoption by SMEs through initiatives like the Technology Innovation Grant and Fund of Funds for Startups, fostering entrepreneurship in high-tech sectors.
• Capacity Building:- SIDBI conducts training programs, workshops, and skill development initiatives to enhance the entrepreneurial capabilities of individuals and SMEs.
• Network and Collaboration:- SIDBI collaborates with various stakeholders, including state governments, financial institutions, and industry associations, to create a robust ecosystem for entrepreneurship and SME growth.

Role Of Ministry of Commerce & Industry

The Ministry of Commerce & Industry, Government of India, plays a crucial role in creating entrepreneurship opportunities through:-

• Policy Formulation:- Developing policies and schemes to support entrepreneurs and ease business regulations.
• Promoting Exports:- Encouraging entrepreneurs to explore international markets and export their products.
• Startup Support:- Facilitating the growth of startups through initiatives like Startup India and providing funding opportunities.
• Trade Facilitation:- Simplifying trade processes and promoting ease of doing business.
• Industrial Development:- Fostering industrial growth, innovation, and entrepreneurship to boost the economy.

Role of Ministry of Micro, Small and Medium Enterprises

The Ministry of Micro, Small and Medium Enterprises (MSMEs) plays a vital role in creating entrepreneurship opportunities by:-

• Financial Support:- Providing financial assistance, loans, and subsidies to MSMEs to kickstart and expand their businesses.
• Skill Development:- Offering training and skill development programs to enhance the entrepreneurial capabilities of individuals.
• Market Access:- Facilitating access to markets and promoting the marketing of MSME products through various initiatives.
• Technology Adoption:- Encouraging the adoption of modern technology and innovation to boost competitiveness.
• Policy Advocacy:- Advocating policies and regulations that favor the growth and sustainability of MSMEs, thereby fostering entrepreneurship opportunities.

Customized Support for Software Product Startups

Accelerators will create customized programs for each startup, offering services like customer and investor connections, capacity and product enhancement. They will receive a budget of Rs. 2.0 Lakhs per startup, up to a maximum of INR 20 Lakhs per cohort. Each accelerator can support a minimum of 5 and a maximum of 10 startups in the software products domain.

NASSCOM Report Highlights Dominance of Tech Start-ups

The highlights of this report are as follows:-

• The NASSCOM Strategic Review 2019 reveals that tech-focused start-ups, particularly in Enterprise software and services like FinTech, EdTech, and HealthTech, constitute nearly half of all start-ups.
• Among these, FinTech, EdTech, and HealthTech alone make up 26-30%.
• Advanced technologies such as IoT are utilized by 15-17% of start-ups, AI by 54-58%, and AR/VR by 26-28%, emphasizing the need for accelerators to support these pivotal technologies.

Accelerator Services & Activities

The selected accelerators have to provide services to the Start-Ups which include
the following:-

• Market Research and Product Positioning Guidance
• Tech Vertical-Based Startup Mentoring
• Legal Help for IP, Incorporation, and More
• Networking and Learning Hub
• Collaborative Learning
• Weekly Founder Meetings
• Demo Day for VC and Angel Investor Pitching

Benefits Of MeitY SAMRIDH Scheme 2024

The benefits of this scheme are as follows:-

• Financial Assistance: One of the key benefits of the MeitY SAMRIDH Scheme is the financial assistance provided to eligible entities. This funding can help startups and IT companies accelerate their growth and development.
• Technology Adoption: The scheme encourages the adoption of cutting-edge technologies by providing resources and support to businesses looking to innovate and stay competitive.
• Skill Development: Through various training programs and workshops, the scheme focuses on enhancing the skills of individuals in the tech industry, ultimately leading to a more skilled workforce.
• Market Access: Participants of the scheme gain access to a wide network of potential customers, partners, and investors, opening up new opportunities for growth and collaboration.
• Regulatory Support: The scheme offers guidance and support on regulatory compliance, helping startups navigate the complex legal landscape of the tech industry.
• Infrastructure Development: With a focus on building robust digital infrastructure, the scheme aims to create a conducive environment for technology-driven businesses to thrive.
• Global Exposure: Through international partnerships and collaborations, participants of the scheme can gain exposure to global markets, expanding their reach beyond national boundaries.
• Innovation Ecosystem: The scheme fosters an innovation-friendly ecosystem where creativity and entrepreneurship are encouraged, leading to the development of groundbreaking technologies.
• Job Creation: By supporting startups and IT companies, the scheme contributes to job creation, providing employment opportunities for skilled individuals in the tech sector.
• Sustainable Growth: With a long-term vision of sustainable growth, the MeitY SAMRIDH Scheme aims to position India as a global leader in digital innovation and technology.

Features Of MeitY SAMRIDH Scheme 2024

The features of this scheme are as follows:-

• Seed Funding: The scheme provides seed funding to early-stage startups to help them kickstart their ventures and bring their innovative ideas to life.
• Mentorship Programs: Participants of the scheme have access to mentorship programs where experienced professionals provide guidance and support in navigating the challenges of the tech industry.
• Incubation Facilities: The scheme offers state-of-the-art incubation facilities equipped with the latest technology and infrastructure to support the growth and development of startups.
• Networking Opportunities: Through networking events, workshops, and conferences, participants can connect with industry experts, potential investors, and like-minded entrepreneurs.
• Market Research Support: The scheme provides assistance in conducting market research, helping startups identify market trends and opportunities for growth.
• Prototype Development: Participants can avail of support for developing prototypes and proof of concepts, enabling them to test their ideas before going to market.
• Legal and Regulatory Guidance: Startups receive guidance on legal and regulatory requirements, ensuring compliance with relevant laws and regulations.
• International Exposure: The scheme facilitates international partnerships and collaborations, giving participants exposure to global markets and opportunities.
• Customized Training Programs: Tailored training programs are offered to participants based on their specific needs and requirements, enhancing their skills and knowledge in key areas.
• Post-Investment Support: Following investment, startups receive ongoing support and guidance to help them scale and grow their businesses successfully.

MeitY SAMRIDH Scheme Eligibility Criteria 2024

The applicants will need to attain the below-mentioned points to apply online for this scheme:-

• The applicant must be an Indian National.
• Accelerators must focus on incubation in the last 3 years.
• They should have aided at least 50 startups.
• 10 startups should have secured private investment or run 3 groups with SAMRIDH Scheme activities.
• Accelerators must have suitable space and resources for startup activities to benefit from MeitY SAMRIDH Scheme.

Important Documents 

Some of the important documents required to apply online for this scheme are as follows:- 

• Aadhar Card
• Residence Certificate
• Income Certificate 
• Educational Certificates 
• Bank Account Details 
• Latest Passport Size Photos 
• Mobile No
• Email ID 

MeitY SAMRIDH Scheme Apply Online 2024 

The applicants will need to follow the below-mentioned points to apply online for this scheme:- 

• Visit the Official Website.

• On the homepage, click on the Register link under Startup Section.

• The registration form will get displayed.
• Fill out each asked detail such as:-
  • Unit Name
  • Website
  • Registration Status with Startup India Scheme
  • Group Size
  • Forum
  • Funding Type
  • Short Description
  • Registered Address
  • Country
  • State
  • City
  • Pin Code
  • Company Representative Name
  • Company Representative Email
  • Phone Number 
• Click on Submit button.

To Do Startup Login

The applicants will need to follow the below-mentioned points to do login:- 

• Visit the official website.
• Now you will get land on the homepage.
• Click on the Login link under Startup Section.
• A new page will get displayed. 
• Here, you will need to enter the login details. 
• Now click on Sign In button.
• In this way, you will get login.

Incubator Apply Online 

The applicants will need to follow the below-mentioned points to apply online as an incubator:- 

• Visit the official website.
• Now you will get land on the homepage.
• Click on the Register link under the Incubator section.
• The registration form will get displayed on your screen. 
• Enter the asked details such as:-
  • Legal Entity Name
  • Name Of Incubation Center
  • Registration Number
  • Website
  • Legal Status
  • Meteorology Affiliated To A University Or Research And Development Organization
  • Registered Address
  • Major Currency
  • Country
  • State
  • City
  • Total No. Of Seats
  • Heating Space Available
  • Workspace
  • Ceo Name
  • Mobile Number
  • E-Mail
  • Authorized Signatory Name
  • Contact Person Email
  • Post
  • Contact Person Name
  • Contact Person’s Mobile Number 
• Then click on the Submit button. 

To Do Incubator Login

The applicants will need to follow the below-mentioned points to incubator login:- 

• Visit the official website.
• Now you will get land on the homepage.
• Click on the Login link under the Incubator section.
• A new page will get displayed. 
• Here, you will need to enter the login details. 
• Now click on the Sign In button.
• In this way, you will get a login. 

Contact Information

In case of queries and questions come to your mind regarding the MeitY SAMRIDH Scheme, then you may contact this mentioned office address, phone No, & email ID:-

• Office Address:-
  • Room Number: 2214,
  • Ministry of Electronics and Information Technology,
  • Electronics Niketan, 6,
  • CGO Complex,
  • Lodhi Road,
  • New Delhi-110-003
• Phone No:- +91-11-24301715/24364799
• Email ID:- meity-sthub@gov.in

FAQs

• Who is eligible to apply for the MeitY SAMRIDH Scheme? Any startup, entrepreneur, or IT company with a innovative tech idea can apply for the scheme.
• What is the application process for the scheme? The application process involves submitting a detailed proposal outlining the innovative idea, business plan, and potential impact.
• How much funding is available under the scheme? The amount of funding available varies depending on the specific requirements and scope of the project.
• What are the key criteria for selection under the scheme? Selection criteria include the uniqueness of the idea, potential for growth, and feasibility of implementation.
• What support services are provided to participants of the scheme? Participants receive a range of support services including funding, mentorship, networking opportunities, and training programs.
• How long does the incubation period last for participants? The duration of the incubation period varies depending on the specific needs and requirements of the startup.
• Are there any restrictions on the sectors eligible for support under the scheme? The scheme covers a wide range of sectors within the tech industry, with a focus on innovation and creativity.
• What is the expected outcome of the MeitY SAMRIDH Scheme? The scheme aims to drive innovation, foster entrepreneurship, and position India as a global tech leader.
• Can participants of the scheme access international markets? Yes, participants have the opportunity to engage with international markets through partnerships and collaborations facilitated by the scheme.
• How can interested individuals learn more about the MeitY SAMRIDH Scheme? Detailed information about the scheme, including eligibility criteria and application procedures, can be found on the official website of the Ministry of Electronics and Information Technology.