Bihar Startup Policy 2023:- Recently, a new scheme has been launched in Bihar with the name of the Bihar Startup Policy. This is a policy for entrepreneurs to boost entrepreneurship in the state of Bihar. Since then, COVID and inflation issues have been serious setbacks in the state. So, to help private organizations, the government introduced the scheme. A benefit of Rs. 10,00,000 for a period of 10 years without interest will be given under this scheme. Training guidance support will be provided with the policy. In today’s article, we will learn about everything regarding Bihar’s startup policy until 2023. We will learn about the portal launched under this scheme also.
Table of Contents
Bihar Startup Policy 2023
- The policy was launched in Bihar in the month of July 2022 by Syed Shahnawaz Hussain, the industry minister of Bihar.
- The policy is to boost entrepreneurship in the state of Bihar. The primary objective of this startup policy is to accelerate the growth of the MSMEs sector in Bihar.
- This policy will focus on the handloom industry, the clothing industry, handicrafts, industries in relation to the benefit of villages, etc.
- In the course of the policy, any youth or individual will get a fund of Rs 10 Lakh which will be without interest for a period of 10 years.
- In addition, if the organization wants to engage in any acceleration initiatives, it will get an additional 3 lakh rupees.
- Upon receiving investment from angel investors, a success fee of 2% of the investment will be paid if the firm generates a profit.
- An individual is able to get further funds after receiving funding from an angel investor.
- In accordance with the program, if necessary, counseling, training, and marketing assistance will also be offered.
- Women entrepreneurs belonging to sc/st will get 15 more, which means if a normal woman entrepreneur gets 10 lakh fifty thousand rupees, then a woman belonging to SC categories will benefit by around 11 lakh fifty thousand rupees, which in this scenario means more.
- This scheme will not only help in providing the start-up money but also provide financial incentives and other beneficial facilities during the initial period to help and support. Such methods will increase the number of startups in the economy of Bihar.
- This policy startup also has a startup portal for searching for entrepreneurs. Any man who is interested in applying for this policy has to visit this portal.
- At the launch meeting of the policy, the minister said that next month in September the seed funds will be initiated and applicants will benefit from them at the earliest.
Bihar Startup Yojana 2023 Details in Highlights
|Bihar Startup Policy 2023
|Syed Shahnawaz Hussain, the industry minister of Bihar,
|29 July 2022
|The State Government of Bihar
|Online Registration Date
Bihar Startup Policy 2023 Objectives
The primary objective of this policy is to accelerate the growth of the MSMEs sector in Bihar. It aims to boost the entrepreneurship of the state of Bihar.
Bihar Startup Policy 2023 Benefits
- Bihar’s startup policy was launched in Bihar in the month August 2022 to boost entrepreneurship in the state
- Young Bihar entrepreneurs would get a loan of 10 lakh without interest for ten years. This sum will be allocated as seed money under the Bihar Startup Policy.
- Enhanced incentives of 5 percent for female entrepreneurs, in addition to a grant of 3 lakh rupees for businesses that participate in “rigorous training for product improvement and finance.”
- In addition to shared office space, there are financial incentives and other amenities available.
- Created a startup platform for young business people in the state of Bihar who is interested in taking advantage of the policies and programs available to them.
Bihar Startup Policy Documents Needed
The documents needed for Bihar Startup Policy are:
- Valid Email ID (the email should be valid for at least 1 year).
- Mobile no. linked with Aadhar
- Passport size photo
- Scanned Image of
- Aadhar card and Pan card
- Caste certificate (Not required for general category)
- Educational qualification Certificate
- Proof of entity (If the entity is registered)
- Balance Sheet
- Given format filled with details and signature
How to Register for Bihar Startup Policy 2023
- To register for the Bihar Startup Policy 2023, you have to open the official website.
- Now from the homepage, select the register option.
- A new page will appear on the screen.
- Read all the instructions carefully and move forward.
- After that, you will see an application format in two different languages Hindi and English.
- Download the application format of your choice.
- After that, the registration form will appear on the screen.
- Enter the details in the application form.
- Check the details carefully and click on the submit option.
- Your registration will be done successfully.
- Take a printout of the application form.
How to Login
- Open the official website of Bihar Startup Policy.
- The home page will appear on the screen.
- Now from the homepage, select the login option.
- The new login form will appear on the screen.
- Enter the email id and password in the application form.
- Click on the login option.