A Bihar Startup Policy was established by the Bihar government to make the state a more developed one by offering startup opportunities to keep this development running smoothly. For more information regarding Bihar Startup Policy 2023, users can visit the official website at startup.indbih.com.
Bihar Startup Policy 2023
The Government of Bihar has started the Bihar Startup Business Loan program to encourage youth to start their own businesses. The registration process is still ongoing. If a candidate has a viable startup idea, they can apply and make use of this scheme. An applicant will receive 10 lakhs for 10 years under the Loan for Business in Bihar scheme and that too without interest charges. So to learn how to apply to this Bihar Startup Policy 2023 scheme, what should he or she keep in mind while submitting the application? In this article, we have covered everything you need to know.
Startup India Registration 2023
|Scheme introduced by||Syed Shahnawaz Hussain, the industry minister of Bihar|
|Policy||Bihar Startup Policy 2023|
|The objective of this scheme||To inspire budding entrepreneurs in Bihar|
|Reimbursements||Bihar entrepreneurs will be able to borrow 10 lahks without paying interest for ten years|
|Eligibility criteria||Young entrepreneur of Bihar|
Main objectives of Bihar Startup Policy 2023
- Young people and entrepreneurs are introduced, promoted, and encouraged to pursue entrepreneurship through numerous initiatives.
- To improve the viability of new businesses, seed money and matching grants are provided.
- Establish entrepreneurship development centers and entrepreneurship facilitation centers to promote entrepreneurship among young people.
- Universities and schools can promote entrepreneurship through the implementation of MOOCs (Massive Open Online Courses), internships, and other learning modules.
- Aid the creation of new incubators, coworking spaces, and common infrastructure places, as well as their expansion.
- The platform provides startups with a complete one-stop resource for funding, regulatory support, mentoring, and project management assistance (SEBI-registered appointed angel investors, alternative investment funds, etc.).
- Make it easier for new businesses to obtain legislative clearances in a timely and efficient manner.
- Support startups with mentorship, encouragement, training, and orientations so that they can grow.
- Providing support and nurturing for the startup ecosystem in the state
How to Register for Bihar Startup Policy 2023?
Here is a step-by-step guide to registering
- First, visit the Portal’s official website startup.indbih.com
- Click the register button on the homepage.
- Following carefully reading the instructions, a new screen will appear.
- Once you’ve done that, you’ll see both a Hindi and an English application.
- Download an application in one of the following formats.
- Once the registration form appears, fill it out.
- The application form must be filled out with your information.
- After reviewing the information carefully, click the submit button.
- It will be a breeze to register.
- And once done, print out the application form.
Important documents required
The important documents needed for the Bihar Startup Policy 2023 is
- Aadhar-linked mobile number
- Authentic or current existing Email ID
- Aadhar card
- Passport-size picture
- Pan card
- Caste Certificate
- Educational background certificate of entity proof
Bihar Startup Policy Login process
Here is the step-by-step login process:
- First, visit the official website l
- The home page will appear on the screen.
- From the homepage, click the login option.
- You will see the updated login form on the screen.
- Enter your email address and password in the application form.
- Click on the login link.
Benefits of Bihar Startup Policy 2023
- An interest-free loan of 10 lakhs would be granted to young businesspeople in Bihar. This amount will be provided as startup money under the Bihar Startup Policy 2023.
- Female entrepreneurs will also receive increased incentives of 5 percent through “rigorous product improvement training” in addition to a 3 lakh rupee grant.
- The shared office space is complemented by financial incentives and other perks.
- Several policies and initiatives have been developed to assist young entrepreneurs in Bihar in leveraging those policies and initiatives.
Bihar Startup Policy Eligibility criteria:
- Upon meeting the following requirements, an entity is considered a start-up:
- Those entities that are registered under section 59 of the Partnership Act, 1932, limited liability partnerships (under section 59 of the Companies Act, 2013), or private limited companies (as defined by the Companies Act, 2013), will be able to do so for up to ten years after incorporation (see Limited Liability Partnership Act, 2008).
- No annual turnover has exceeded $100 billion rupees since the firm’s formation or registration.
- Organizations engaged in these activities are those who innovate or develop products, processes, or services, or who have a scalable business model with high income or job potential.
- It should be noted that an existing corporation that is reorganized or divided into a new corporation is not considered a start-up.
- Any startup that has an office in Bihar and is registered or incorporated there is acceptable.
- In case the company is liable for additional Bihar-specific taxes on its operations. check here for more updates regarding government startups jksidco