Start-up Policy 2022 in Bihar has been launched by the Industries Department. Along with this start-up portal was also launched. Bihar Industries Minister Syed Shahnawaz Hussain said that each start-up selected under this policy will be given a seed fund of Rs 10 lakh. No interest will be charged on this fund for 10 years. Under this policy, all this facility will be given only to the start-up investors residing in Bihar.
Bihar's talents will give impetus to the economy
Industry Minister Syed Shahnawaz Hussain said that due to this policy, now the talents of Bihar will be able to participate in speeding up the state's economy through startups. Bihar will also be included in this area among the top states in the country. Young talents should register on the portal and take advantage of the start up policy.
All process will be done online
Industry Minister Shahnawaz said that under the start up policy, the entire process from application to approval will be done on the online digital platform. After every three months, one month's time will be given for the application of Startup Idea. Necessary seed amount will be given to the approved startup investor within 60 days of the application process. The process till the startup approval has been kept completely time bound.
Special things related to start up policy
Up to 3 lakh grant to start ups to participate in the acceleration program
If the start up company gets financial help from angel investors, then they will get two percent success fee
Startups that are funded by angel investors (capitalists or money-lenders who make financial investments in start ups) will get matching loans from the Start Up Fund Trust
Startups will get special incentive (hand holding) and help (nursing) from Incubation Centers (organization that saves the initial unit from failure in the initial stages) Rs. 2 lakh per start-up.
If a start up receives angel funds with the help of incubators, then there is a provision of two percent sexage fee to that incubator.