Ministry of Electronics and Information Technology (MeitY) has provided Rs 2 crore in funding to five startups incubated at the Atal Incubation Centre (AIC) of the Birla Institute of Management Technology (BIMTECH). MeitY startup funding is part of the SAMRIDH program, a government initiative designed to boost startup growth and drive innovation across India.
This initiative aligns with India’s long-term goal of fostering innovation and entrepreneurship as part of the vision for Viksit Bharat 2047. By empowering startups, MeitY is contributing to building a robust entrepreneurial ecosystem that can drive economic growth and job creation.
Five Startups Receive Funding
The five startups that received funding under this program are Cunomial, Credit Siddhi, Origin Connect, Transport Simple, and Vacus. These startups, part of a cohort of eight supported by AIC BIMTECH, have collectively achieved a valuation of Rs 75 crore. Each of these companies operates in diverse sectors, showcasing the broad scope of innovation being nurtured by the SAMRIDH program.
About SAMRIDH Program
The SAMRIDH program, launched by MeitY, is designed to accelerate the growth of startups by offering financial support and resources tailored to their needs. The program helps startups scale their operations, innovate, and compete effectively in dynamic markets.
Dr. Prabina Rajib, Director of BIMTECH, emphasized the importance of the SAMRIDH program in nurturing early-stage ventures. She stated, “SAMRIDH has been instrumental in enabling BIMTECH to provide resources and insights tailored to startups’ unique needs. Our researchers and faculty actively contribute to creating a strong knowledge foundation, helping startups make informed decisions, innovate, and stay competitive.”
Dr. Shalini Singh, Chairperson of the Center for Innovation & Entrepreneurship Development and Acting CEO of AIC BIMTECH, highlighted the comprehensive support provided to startups. “At AIC BIMTECH, we offer not just co-working spaces but also mentorship, networking opportunities, market access, investor connections, and business development activities. This ensures startups have the tools and resources to thrive in an evolving market landscape,” she said.
Empowering 400 Startups
Since its inception, AIC BIMTECH has supported around 400 startups and established over 200 partnerships. This vibrant incubation environment fosters innovation and equips startups with mentorship, networking opportunities, and strategic business support.
The eight startups currently supported by AIC BIMTECH include Cunomial, Credit Siddhi, Origin Connect, Transport Simple, Vacus, Fabrik, Detrocel, and Ecotio. These startups are making significant progress in their respective fields, creating job opportunities, generating revenue, and contributing to India’s economy.
Tailored Support for Growth
BIMTECH provides tailored mentorship and resources to help startups overcome challenges and scale effectively. By offering strategic business networking, team-building support, and investor relations, the institute empowers startups to achieve sustainable growth.
These SAMRIDH startups supported by AIC BIMTECH are not only fostering innovation but also making a meaningful impact on India’s economy. Their contributions include creating jobs, generating revenue, and driving technological advancements. This aligns with the government’s vision of promoting a self-reliant India through entrepreneurship.
The Rs 2 crore funding granted by MeitY under the SAMRIDH program is a testament to the government’s commitment to fostering innovation and entrepreneurship in India. With the support of initiatives like AIC BIMTECH, startups are poised to play a pivotal role in shaping the country’s economic future. As India moves toward its vision of Viksit Bharat 2047, programs like SAMRIDH will continue to drive progress and empower entrepreneurs to build a brighter, self-reliant nation.
