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The Ministry of Electronics and Information Technology (MeitY) has awarded ₹2 crore in funding to five innovative startups incubated at the Atal Incubation Centre (AIC) of the Birla Institute of Management Technology (BIMTECH). This funding, provided under the Startup Accelerators of MeitY for Product Innovation, Development, and Growth (SAMRIDH) program, highlights India’s commitment to fostering innovation and entrepreneurship aligned with the vision of Viksit Bharat 2047.
Startups Empowered by SAMRIDH Funding
The five startups receiving the grant—Cunomial, Credit Siddhi, Origin Connect, Transport Simple, and Vacus—are part of an eight-member cohort supported by AIC-BIMTECH under the SAMRIDH initiative. Together, these startups boast a combined valuation of ₹75 crore, reflecting their potential to drive economic growth and innovation across various sectors.
The SAMRIDH program is a flagship initiative by MeitY, designed to accelerate startups through financial aid, mentorship, and resources, enabling them to scale operations and foster innovation.
Building a Thriving Startup Ecosystem
Dr. Prabina Rajib, Director of BIMTECH, emphasized the institute’s role in supporting entrepreneurial ventures:
“The SAMRIDH program has enabled BIMTECH to provide tailored resources and insights to early-stage ventures. We aim to build a knowledge-driven entrepreneurial ecosystem where startups can thrive, innovate, and make a meaningful impact.”
Adding to this, Dr. Shalini Singh, Chairperson of the Center for Innovation & Entrepreneurship Development and Acting CEO of AIC BIMTECH, highlighted:
“AIC BIMTECH offers startups not just co-working spaces but also critical mentorship, networking opportunities, investor connections, and business development support, equipping them to scale and succeed in competitive markets.”
Empowering 400+ Startups
Since its inception, AIC BIMTECH has supported over 400 startups and established more than 200 partnerships, fostering a vibrant incubation environment. The startups benefit from a comprehensive support framework, including strategic mentorship, market access opportunities, investor relations, and operational scaling support.
In addition to the five funded startups, the broader AIC BIMTECH cohort includes Fabrik, Detrocel, and Ecotio. These startups are innovating across diverse domains, generating employment opportunities, creating revenue streams, and contributing significantly to India’s economic growth.
Driving India’s Innovation Journey
The funding and support from MeitY and AIC BIMTECH reflect India’s commitment to nurturing startups and building a robust ecosystem for innovation. As these startups grow, they are expected to drive technological advancements, create job opportunities, and contribute to a sustainable and resilient economy.
With programs like SAMRIDH, India is poised to accelerate its transformation into a global hub for innovation and entrepreneurship. The success of initiatives like AIC BIMTECH underscores the critical role of collaborative support systems in shaping the future of the Indian startup ecosystem.
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