SAMRIDH — up to ₹40 Lakh Matching Investment for IT Product Startups Through MeitY Accelerators
Government co-investment, released only alongside private money
SAMRIDH is MeitY's accelerator programme for IT and software product startups. MeitY empanels accelerators — Section 8 companies or societies — and funds them to run cohorts of eight to ten startups each, aiming at about 300 startups through some forty cohorts. In the first round, 22 accelerators across twelve states supported 175 startups.
The funding mechanism is the point. MeitY commits up to ₹40 lakh per startup, averaging ₹30 lakh, but disburses it only as matching co-investment: the accelerator or a private investor must put in an equal amount, up to ₹40 lakh, based on the startup's valuation and stage. Accelerators receive ₹2 lakh per startup, up to ₹20 lakh per cohort, to run customer-connect, investor-connect and internationalisation services.
What a startup in a SAMRIDH cohort receives
| Item | Position |
|---|---|
| MeitY investment | Up to ₹40 lakh, average ₹30 lakh, by stage |
| Matching investment | Equal amount from the accelerator or a private investor, up to ₹40 lakh |
| Instrument | Equity or equity-linked, on the cohort's standard terms |
| Acceleration | Customised programme: customer connect, investor connect, product and capacity enhancement |
MeitY Startup Hub and the accelerators
MeitY Startup Hub empanels accelerators and monitors cohorts. Each accelerator's selection committee picks startups through a multi-level screening; MeitY's investment follows the accelerator's recommendation and the matching investor's commitment.
IT product startups with a private cheque in hand
- •DPIIT-recognised startup building a technology-based software or IT product
- •At least 51% owned by Indian founders
- •At MVP or early-traction stage
- •A hard commitment of at least ₹40 lakh (or the matching amount) from an angel or VC — MeitY's funds are released only as co-investment
- •Selected by a MeitY-empanelled SAMRIDH accelerator; no direct application to MeitY
What the accelerator's committee reviews
- •Certificate of Incorporation, DPIIT recognition, shareholding pattern and cap table
- •Investor commitment letter or term sheet for the matching amount
- •Pitch deck, product demo, traction metrics
- •Financial statements and a three-year model; valuation basis
- •Use-of-funds plan and milestones
- •Founder KYC and team profiles
- •Declaration of other MeitY or government support
Questions founders ask about SAMRIDH
No. Matching private investment is the release condition. The accelerator may itself invest, but someone other than MeitY must put in the equal amount.
No. It is an investment; MeitY's money takes an equity-linked position through the cohort's structure.
MeitY Startup Hub publishes the list; it includes IIM Udaipur's incubation centre, C-CAMP's digital-health accelerator, Zone Startups' AcceleratHER track and others.
SAMRIDH is for IT and software product startups. Hardware and deep-tech ventures are directed to GENESIS or NIDHI schemes.