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SAMRIDH to provide seed funding, mentorship to 300 startups

Under this programme, seed funds of up to Rs 40 lakh would be given for the selected start-ups, along with a six month mentorship

  • Money9
  • Last Updated : August 25, 2021, 17:58 IST
The corporate affairs on its part had earlier demanded that foreign investors be exempted from capital gains tax on investment in these stocks, according to the Times of India report, which added that the revenue department, however, did not agree to it then.

In a bid to create 100 unicorns, the government had launched the Startup Accelerator of MeitY for product Innovation, Development and Growth (SAMRIDH) programme to support 300 IT start-ups and would provide seed funding, market access and mentorship, PTI reported on Wednesday.

Union Minister for IT and Telecom, Ashwini Vaishnaw said that the need for mentoring startups when the idea is getting converted into products is the most important part of their journey, adding that the lack of funds is not a big issue. The minister has mentored over 20 start-ups earlier.

SAMRIDH to provide seed funds of up to Rs 40 lakh

Under this programme, seed funds of up to Rs 40 lakh would be given for the selected start-ups, along with a six-month mentorship. SAMRIDH has been developed on the lines of silicon valley based accelerator YCombinator.

Published: August 25, 2021, 17:58 IST

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