The Startup Bihar Scheme is an initiative by the Bihar government aimed at promoting and nurturing startups in the state. It is part of a broader effort to foster innovation, support entrepreneurship, and create a vibrant startup ecosystem in Bihar.
Encourage Innovation: Foster an environment conducive to innovation and creative problem-solving.
Support Entrepreneurs: Provide necessary support and resources to budding entrepreneurs.
Job Creation: Generate employment opportunities through the establishment of new startups.
Economic Development: Contribute to the economic growth of Bihar by promoting industrial and business activities.
Seed Funding: Support startups by seed funding as well as matching grants to increase their viability.
INCUBATION CENTERS: Facilitate Entrepreneurship Development Centers and Entrepreneurship Facilitation Centers to increase awareness and promote entrepreneurship amongst the youth.
TRAINING PROGRAMS: Encourage Entrepreneurship through education by introducing learning modules in the University/ Schools, MOOC (Massive Open Online Courses), internships amongst others.
INFRASTRUCTURE SUPPOERT: development of new and support expansion of existing Incubators/common infrastructure spaces/Coworking spaces.
REGULATORY SUPPORT: Enable hassle-free and time bound statutory clearances for startups.
TECHNICAL SUPPORT: Provide appropriate institutional support to enable the nurturing of startups including mentoring, hand-holding and training/orientation visits.
OBJECTIVES OF THIS SCHEME :-
FEATURES OF THIS SCHEME:-
BENEFITS AND FUNDING SUPPORT:
A SEED GRANT OF UPTO RS. 10 LAKHS PER START-UP AS INTEREST FREE LOAN FOR 10 YEARS SHALL BE PROVIDED.
FREE OF COST VALUATION FOR START-UPS AND FACILITATE ACCESS TO ANGEL INVESTORS.
A SUCCESS FEE @2% OF INVESTMENT SHALL BE PROVIDED TO START-UPS FOR MOBILIZING INVESTMENTS FROM STATE REGISTERED ANGEL INVESTORS.
A FINANCIAL ASSISTANCE UPTO AN AMOUNT EQUAL TO THE AMOUNT INVESTED IN START-UP BY THE ANGEL GROUPS.
ASSISTANCE UP TO RS. 3 LAKHS PER START-UP TO ENROL AND PARTICIPATE FOR NATIONAL / INTERNATIONAL RECOGNIZED ACCELERATION PROGRAM.
ASSISTANCE UP TO RS. 3 LAKHS PER START-UP TO ENROL AND PARTICIPATE FOR NATIONAL / INTERNATIONAL RECOGNIZED ACCELERATION PROGRAM.
BEAR ALL COSTS ASSOCIATED TOWARDS FILING DOMESTIC PATENTS. PROVIDE ADDITIONAL FINANCIAL ASSISTANCE IN FORM OF REIMBURSEMENT FOR AWARDED FOREIGN PATENTS TOWARDS FILING FEES.
The date of incorporation / registration is not prior to Ten years.
Entity must have incorporated as Private Limited or Partnership firm or a limited liability partnership.
Annual turnover not exceeding one hundred crore rupees, for any preceding financial year.
An entity not formed by splitting up or reconstruction of an existing business.
ENTITY IS WORKING TOWARDS INNOVATION, DEVELOPMENT OR IMPROVEMENT OF PRODUCT OR PROCESSES OR SERVICES.
SCALABLE BUSINESS MODEL WITH A HIGH POTENTIAL OF EMPLOYMENT GENERATION OR WEALTH CREATION.
PROVIDED START-UP MUST BE INCORPORATED OR REGISTERED IN BIHAR AND HAVING OFFICE IN BIHAR
PROVIDED FURTHER APPLICABLE TAXES FROM THE OPERATIONS OF THE COMPANY ARE PAYABLE IN BIHAR.
START-UP RECOGNITION ELIGIBILITY CRITERIA:-
Registration: Entrepreneurs need to register on the official Startup Bihar portal.
Documentation: Submission of necessary documents, including identity proof, address proof, educational certificates, and a business plan.
Evaluation: Applications are evaluated based on the viability and potential impact of the business plan.
Approval and Funding: Upon approval, funds and other supports are provided as per the scheme's terms.
The Startup Bihar Scheme aims to transform Bihar into a hub of innovation and entrepreneurship By providing the necessary support and resources.
