YouthNet invites tech startups to apply for MeitY GENESIS programme

DIMAPUR — YouthNet has invited eligible technology startups from Nagaland to apply for the MeitY GENESIS Matching Investment 2.0 Programme, a flagship initiative of the Ministry of Electronics and Information Technology (MeitY) and the MeitY Startup Hub (MSH).

Under the programme, eligible startups that have secured or are positioned to secure funding from a qualifying external or private investor can receive matching investment support of up to INR 50 lakh per startup, subject to the terms and eligibility requirements prescribed under the GENESIS scheme guidelines, according to a press release from YouthNet.

Associate Director of YouthNet Neikepekho Shosahie described the programme as a significant opportunity for Nagaland’s technology startups that are serious about scaling their ventures and are prepared to demonstrate the required level of investment readiness.

He mentioned that the YouthNet Incubation Centre, the programme’s only implementing partner in Nagaland, is facilitating access to various components of MeitY GENESIS, including Matching Investment, Entrepreneur-in-Residence (EiR) and Pilot Funding Support. Several startups from Nagaland received financial and incubation support through different components during the programme’s earlier phase.

Also read: YouthNet invites applications for MeitY GENESIS EiR 3.0

Under the MeitY GENESIS Matching Investment Funding Scheme, eligible startups can access equity-based support of up to INR 50 lakh on a 1:1 matching basis. The scheme is intended for scalable, technology-driven ventures working in areas such as artificial intelligence, deep technology, cybersecurity, the Internet of Things, blockchain, fintech, ed-tech and health-tech.

Through the programme, startups can raise matching investments from qualifying venture capital funds or angel investors, including eligible SEBI-registered investors. Selected ventures may also receive acceleration support to strengthen their operations, scale their solutions and improve market access.

Eligible applicants must be DPIIT-recognised private limited companies registered in Tier-II or Tier-III cities, with market-ready products and, preferably, evidence of early market traction. Startups that have previously received support under TIDE 2.0 (Scale-up), MeitY EiR or SAMRIDH are not eligible to apply.