The Bihar government is giving the opportunity for people to register themselves at the official website of Bihar Startup Policy and through this website the students will be able to get proper information related to the skill development programmes which are available by the Bihar Government. You can check out the details related to Bihar startup policy from the article provided below and we will also share with you all the details related to the registrations. We will also share with you all the eligibility criteria that you need to follow in order to be a part of the organization and apply for the different skill development programmes that will be presented by the Bihar Government.
What Is Bihar Startup Policy?
The Bihar government has created a new scheme which will help in the development of proper premises for people who are starting their own businesses and want to have proper funds so that they can continue their operations related to entrepreneurship. Through the development of this Bihar Startup Policy, people will be able to continue their businesses without having to worry about the funding that they require in order to start their own businesses. If you want to apply for this startup then you need to register at the official website and you will be provided with an abundance of features for the development of this specific portal. Development schemes for entrepreneurship skills will also be provided through the portal.
Also Read: CFMS Bihar
Highlights Of Policy
| Name | Bihar Startup Policy |
| Launched by | Bihar Government |
| Beneficiaries | Entrepreneurs |
| Benefits | Providing support to the startup |
| Official Website | Bihar Startup |
Important Dates
- The registration starts soon
- The last date to register yourself for the event will update soon.
Objective Of Bihar Startup Policy
The scheme’s main objective is to introduce and promote entrepreneurship education among the people. There are a lot of programs available by the government through which the people will be able to continue their businesses in India without having to worry about the funding that they have to collect over a period of time. The Government of the Bihar state will encourage and support the startups available in the area and there will be the development of entrepreneurship skill development programmes and also facilitation centres available in order to increase awareness and promote business ideas among the youth. This is also a one-step portal created by the Bihar government to provide proper opportunities such as collecting funding for startups.
Benefits Of Bihar Startup Policy
There are a lot of benefits which will be provided to the people who are applying for this scheme:-
- Validation Stage
- A Seed Grant of up to Rs 10 Lakhs per Start-up as an interest-free loan for 10 years shall be provided to start-ups.
- Early Stage Funding Support
- Free of-cost Valuation for Start-ups.
- Facilitate access to Angel Investors.
- A success fee of @2% of investment shall be provided to start-ups for mobilizing investments from state-registered angel investors towards early-stage funding.
- Matching Support: Financial assistance up to an amount equal to the amount invested in start-ups by the Angel Groups and Category-I. Alternate Investment Funds may be given as loans to the Start-up. The rate of interest and terms and conditions of the loan shall be notified by the SMIC from time to time.
- Assistance to enrol and participate in Acceleration Program: Assistance up to Rs. 3 Lakhs per Start-up to enrol and participate in the National/internationally recognised acceleration program. The fees/charges paid for attending the same will be considered eligible for getting assistance.
- Scale-up Funding Support
- The SMIC may participate in SEBI-registered AIFs (Alternate Investment Funds) and Venture Capital Funds. The Venture Capital Fund so created shall invest at least 50% (i.e. equal to twice the contribution made by the trust in the VC Fund) in start-ups located in Bihar.
- SMIC shall facilitate the listing and public issue of Startups in collaboration with National Level Stock Exchanges such as BSE/ NSE.
- Zero Cost for filing patents – Domestic and Foreign
- Intellectual Property (IP) is an invaluable business tool for start-ups, or entrepreneurs, providing an initial start to one’s business. Investors weigh IPs heavily and create good value for ventures. To encourage the registration of IPRs (Intellectual Property Rights) by Start-ups and provide facilitation support for the protection and commercialization of IPRs, Government.
- Bear all costs associated with filing domestic patents.
- Provide additional financial assistance in the form of reimbursement for awarded foreign patents towards filing fees.
Incentives To Beneficiaries
The following incentives will be provided to SC/ST /Women /Differently abled led Startups:-
- 22% of the total corpus for funding start-ups shall be reserved for SC/ST beneficiaries.
- Based upon the requirement, the BSFT may relax the eligibility criteria, for certifying startups belonging to SC/ST/ women/differently abled.
Eligibility Criteria
The applicant must follow the following eligibility criteria in order to apply for the prestigious scheme:
- i. Upto a period of ten years from the date of incorporation/registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008).
- ii. Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore rupees.
- iii. The entity is working towards innovation, development or improvement of products or processes or services, or it is a scalable business model with a high potential for employment generation or wealth creation.
- iv. Provided that an entity formed by splitting up or reconstruction of an existing business shall not be considered a ‘Start-up’.
- v. Provided Start-ups must be incorporated or registered in Bihar and have an office in Bihar.
- vi. Provided further applicable taxes from the operations of the company are payable in Bihar.
Also Read: SSPMIS Payment Status
Bihar Startup Policy Department Login
If you want to log in as a department then you will have to follow the simple procedure given below:-
- You will first have to visit the Bihar Startup website of startup Bihar by clicking on the lake given here
- The home page will open on your screen.
- You have to click on the option called Department Login
- A new page will open on your screen.
- A new page will open on your screen where you will have to enter your username and password.
- Select your role and you will be able to log in specially.
Login Process
If you want to log in then you will have to follow the simple procedure given below:-
- You will first have to visit the official website of startup Bihar by clicking on the lake given here
- The home page will open on your screen.
- You have to click on the option called Login
- A drop-down menu will open on your screen and you have to click on the option called login
- A new page will open on your screen where you can enter your email and password.
- You can then sign in using your credentials.
Registration Process
If you want to register yourself then you will have to follow the simple procedure given below:-
- You will first have to visit the official website of startup Bihar by clicking on the lake given here
- The home page will open on your screen.
- You have to click on the option called Login
- A drop-down menu will open on your screen and you have to click on the option called Register
- A new page will open on your screen.
- The instructions related to the steps that you need to take will open on your screen.
- You have to accept the guidelines issued by the organization on your web page
- A new page will open on your screen.
- You have to fill out the registration form and register yourself accordingly.
Sign In
If you want to sign in then you will have to follow the simple procedure given below:-
- You will first have to visit the official website of startup Bihar by clicking on the lake given here
- The home page will open on your screen.
- You have to click on the option called Login
- A drop-down menu will open on your screen and you have to click on the option called Sign in with Startup India
- A new page will open on your screen where you can enter your email and password.
- You can then sign in using your credentials.
Helpline Numbers
- Helpline: 18003456214 \
- Email : startup-bihar@gov.in