We are currently inviting applications from innovators and enterprises, offering scalable solutions, to supplement India’s COVID-19 response, augment health infrastructure and improve capacity. We follow a rigorous review and selection process to support solutions with appropriate investments, fast tracking their growth and market entry.
If you have a market-ready technology or an inclusive business model to strengthen India’s preparedness for emerging healthcare needs, apply today!
Frequently Asked Questions (FAQs)
What is the broad range of activities which will be funded by SAMRIDH?
SAMRIDH will support a broad range of thematic interventions including;
(1) Strengthening the health infrastructure of public and private health facilities for detection treatment and care continuum services
(2) Facility and community-based risk communication and surveillance
(3) Innovations in product development and commercial validation
(4) Funding to manufacturers and suppliers to augment production capacity
(5) Research and development (behavioural, clinical and operational)
(6) Designing innovative insurance and health financing solutions
What kind of organizations/projects can get a grant from SAMRIDH?
SAMRIDH will prioritize and evaluate projects that are directly related to combating COVID-19 and other public health emergencies. We will specifically fund organizations such as:
(1) Private healthcare networks
(2) Digital and emerging technology organizations
(3) Research and academic institutions
(4) Manufacturers and suppliers of drugs and vaccines, test kits and equipment, ventilators, personal protection equipment and related medical supplies and consumables
(5) Innovation incubators and social enterprises
(6) Civil society organizations
Is it open for both for-profits and non-profits?
Yes, both for-profits and non-profit organizations are encouraged to apply.
How would the application process work?
Once you share your application with us and meet the basic selection criteria, our team will get in touch to better understand your proposal, the problem that you are trying to solve and the proposed approach. Through a series of conversations, we will determine if the project is a good two-way fit to be funded by SAMRIDH.
What is the selection criteria for SAMRIDH?
To best allocate the funding, we will use the following framework to prioritize projects:
(1) The problem statement your solution is addressing
(2) Appropriateness of the solution to address the problem statement
(3) Techno-commercial aspects of your solution, including but not limited to, regulatory approvals, market sizing, market access, ease of integration into current workflows, affordability of the solution (4) Technological readiness of product/service as post revenue, commercialized solutions will be prioritized
(5) Financial viability of the solution proposed
(6) Scale of impact demonstrated by number of beneficiaries, increased access to affordable healthcare, cost savings to the system, reduction in Out of Pocket Expenditure (OOPE) etc.
(7) Patented solutions are always a plus
How much funding can we get?
There is no maximum or minimum funding benchmark for SAMRIDH. A suitable financial instrument, leveraging grant and debt capital, will be structured to meet the requirements of the project/intervention.
How soon can we get the grant?
This will vary depending on the grant size and need of the proposed intervention.
What are the different kinds of financial instruments which would be used to disburse the funds?
The program will aim to customise the financial instruments to meet the unique capital needs of healthcare solution providers. In doing so, SAMRIDH provides a combination of pure grant and debt financing, as well as other blended finance solutions. Some examples of the blended solutions are: Contract Financing/Letter of Credit, Low-Collateral Loans, Loan Buy-Down, Pay for Performance instruments & Pure Vanilla Grants.
Would the SAMRIDH facility offer equity investment to offer the funds?
The SAMRIDH initiative does not offer funds through equity ownership in an entity. We shall, however, act as an intermediary to connect the various innovations with our impaneled partners i.e. Impact Investors, Venture Capitalists, and Financial Institutions, etc.
