Bihar Startup Govt Schemes

Bihar Startup Government Schemes :-

Bihar Startup Policy 2022

The Bihar Startup Policy 2022 provides comprehensive support to entrepreneurs, covering different stages of a startup’s life cycle, from ideation to scaling up. The key benefits and provisions of this policy are as follows:
  • Seed Funding: A seed grant of up to ₹10 lakh is provided to startups as an interest-free loan for a period of 10 years. This fund is disbursed based on a rating system and is released upon achieving specific milestones.
  • Early-Stage Funding: Startups that have already launched a product and have the potential for growth can apply for an additional ₹15 lakh in early-stage funding. This is a loan with a 5% simple interest, repayable over 5 years after a 2-year moratorium.
  • Special Incentives: The policy provides enhanced benefits for specific categories of entrepreneurs:
    • Women Entrepreneurs: An additional 5% incentive on top of the base grant.
    • SC/ST and Physically Disabled Entrepreneurs: An additional 5% incentive.
  • Grants for Training: A grant of up to ₹3 lakh is available for startups that participate in a rigorous training program for product improvement and financial management.
  • Incubation Support: The government provides a reimbursement of up to ₹2 lakh to government-recognized private or state-supported incubators for the cost of incubating a startup.
  • Regulatory Support: Startups are exempted from licensing/registration under various state acts and are also exempt from inspections by government regulatory agencies for five years, unless there is a threat to public safety.
  • Free Services: Startups can avail of free valuation services and receive assistance in intellectual property rights (IPR) filing, with the government bearing the full cost of filing domestic patents.

How to Apply

The application process for the Bihar Startup Policy 2022 is managed through a dedicated online portal. Here are the general steps to apply:
1. Check Eligibility: Ensure your startup meets the criteria. The entity must be a private limited company, a registered partnership firm, or a limited liability partnership (LLP) incorporated or registered in Bihar. It should be less than 10 years old and have an annual turnover of less than ₹100 crore in any financial year. The business must focus on innovation and have the potential for employment creation.
2. Register on the Portal: Visit the official “Startup Bihar” portal and register a new account. You’ll need to answer a series of questions to check your eligibility before you can proceed with the full registration.
3. Submit the Application: Fill out the detailed application form and upload all the required documents.

Documents Required:

  • Aadhar Card and PAN card of the founders.
  • Educational qualification certificates.
  • Proof of the business entity’s registration (e.g., Certificate of Incorporation, Partnership Deed).
  • A pitch deck or a detailed business plan outlining the innovation and scalability of the startup.
  • Balance Sheet and GST returns (if applicable).
  • A passport-sized photograph.
  • Caste certificate (if applicable).
Evaluation Process: After submission, a Startup Support Unit (SSU) conducts an initial screening. Startups that meet the criteria are then connected with incubators for mentorship and guidance. A final evaluation is done to certify the startup and approve the financial assistance.

Link to Apply