Lucknow. Uttar Pradesh has performed remarkably in SAMRIDH (Startup Accelerator of MeitY for Product Innovation, Development and Growth), an ambitious scheme of the Ministry of Electronics and Information Technology (MeitY) of the Central Government. The scheme focuses on preparing startups for innovation, product development and business expansion. The number of accelerators and startups selected from Uttar Pradesh shows that the state is fast emerging as a major startup hub of the country.
The impact of the startup-friendly policies adopted under the leadership of Chief Minister Yogi Adityanath is now clearly visible at the national level. The state government is continuously coordinating to ensure that the benefits of the central schemes reach the ground, which is strengthening the startup ecosystem.
The Uttar Pradesh government has strengthened the process of monitoring, mentorship and market linking of accelerators and startups. Its aim is to ensure that young entrepreneurs get not only funding but also a path to long-term and sustainable growth.
Under the SAMRIDH scheme, a total of 10 accelerators from Uttar Pradesh had submitted Expression of Interest (EOI), out of which 4 accelerators were selected. Through these selected accelerators, acceleration support was provided to 35 startups of the state.
Out of these 35 startups, 27 startups were successful in getting funding. A total amount of Rs 9.91 crore was distributed to the startups of Uttar Pradesh under SAMRIDH scheme. This funding has been given for product development, market expansion and technical strengthening of startups.
In this scheme of the Central Government, there is a provision of matching funding up to a maximum of Rs 40 lakh for each startup. Along with this, financial assistance is also provided to accelerators that guide startups, thereby empowering the entire ecosystem.
The state government believes that as a result of the favorable environment created for startups in the last few years, Uttar Pradesh is no longer just a consumer state, but is becoming a strong center of innovation and entrepreneurship.
Initiatives like new startup policy, encouragement to IT and electronics sector, rapidly developing infrastructure and single window system are motivating the youth for entrepreneurship.
Under the SAMRIDH scheme, startups working in areas like Health Tech, Education Tech, Agri Tech, Fintech, Software Services and Consumer Tech are being supported. The active participation of Uttar Pradesh's startups in these sectors shows that the state's economy is now rapidly moving beyond the traditional structure towards a knowledge and technology based model.
