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 Ministry of Electronics and Information Technology has launched the MeitY SAMRIDH Scheme so that the applicants or citizens wanting to start their own business ventures will be able to start so after receiving the financial help and support awarded to them. This scheme will try to bring the innovative and creative ideas into reality. One can apply online before the last date.
Through this article, we will provide you with all types of information about the MeitY SAMRIDH Scheme 2023 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
Now encouragement among the citizens to start their own enterprises will get spread and enhanced with the help of MeitY SAMRIDH Scheme. This will also help the government to promote the startups among the new entrepreneurs. The last date to apply online will be updated soon. The minimum startup amount will be Rs. 40 lakhs. The start up opened by the entrepreneurs can be run for the duration of 4 years.
Financial assistance of Rs. 40,00,000/- in the form of startup amount will be provided or awarded to the entrepreneurs wanting to start their own businesses. For this, they will need to apply online for MeitY SAMRIDH Scheme. The duration of this startup to run will be 4 years. This amount or financial incentive will serve as a funding option for the government.
Highlights Of MeitY SAMRIDH Scheme
The highlights of this scheme are as follows:-
| Name Of The Scheme | MeitY SAMRIDH Scheme |
| Launched By | Ministry of Electronics and Information Technology |
| Delegated Ministries | Ministry of Electronics and Information Technology Ministry of Electronics and Information Technology |
| Allotted Portal | Meity Portal |
| Objective | To provide loan amounts to the new entrepreneurs to start their own businesses |
| Benefit | New entreprises will get established |
| Applicable to | Citizens of India |
| Form of Benefit | Facilitation of Investment For Startup |
| Amount of Loan | Rs. 40 Lakhs |
| Host Site | NIC (National Information Centre) |
| Mode of Application | Online |
| Last Date To Apply Online | Will be updated soon |
| 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:- | [email protected] |
| Official Website | www.meity.gov.in |
Objectives Of MeitY SAMRIDH Scheme
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
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
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
The benefits of this scheme are as follows:-
- Citizens will be able to start their own business ventures.
- This will promote entrepreneurship among the entrepreneurs.
- This will expand the business options.
- Such schemes will also encourages lenders to extend credit to smaller businesses.
- There will be a contribution to job creation.
- This will be stimulating economic growth.
- This scheme will reduce the overall cost of borrowing loans.
- This will be enhancing a nation’s competitiveness in the global market.
- There will be a reduction of paperwork and expedition of loan approvals.
Features Of MeitY SAMRIDH Scheme
The features of this scheme are as follows:-
- The Ministry of Electronics and Information Technology has launched the MeitY SAMRIDH Scheme.
- This scheme will be applicable to the citizens of India.
- Residents wanting to start their own business ventures or startups can apply online for this scheme.
- The estimated project cost will be Rs. 40,000/-.
- There are various state governments who have launched such initiatives to provide financial assistance to the entrepreneurs.
- Around 7 to 8 services that will be provided by the acclerators.
- The last date to apply online will be updated soon.
- For getting more information, one can visit the official website.
MeitY SAMRIDH Scheme Eligibility Criteria
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
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
- 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:- [email protected]