10K startups to be promoted by IT Ministry by 2028

Currently, India has more than 73,000 startups and 100 unicorns

September 1, 2022

The government launched the Digital India GENESIS program with an allocation of INR 750 crore

The Startup Accelerator of MeitY for Product Innovation, Development & Growth (SAMRIDH) programme plans to select and assist growth of 300 startups

MeitY has already partnered with 22 accelerators for the SAMRIDH program and will partner with more to connect the startups with Venture Capitalists

The government will match the fund which startups get from venture capitalists

India plans to promote more than 10,000 startups by 2028 under the GENESIS program by the Ministry of Information and Technology (MeitY) according to a report by the Times of India. 

The government launched the Digital India GENESIS program with an allocation of INR 750 crore. A number of representatives from different Indian startups participated in the program. Currently, India has more than 73,000 startups and 100 unicorns. 

The Startup Accelerator of MeitY for Product Innovation, Development & Growth (SAMRIDH) by the ministry, is a programme that plans to select 300 startups and assist each of them with the funding support of INR 4 million. It has been formed with an allocation of INR 10 million. Officials said that MeitY has already partnered with 22 accelerators for the program, and will partner with more to connect the startups with Venture Capitalists.

According to the report, the government will match the fund which startups get from venture capitalists and will help them by providing growth opportunities.