STARTUP CELL - GoB
To enable Bihar, emerge as the most preferred destination for start-ups and entrepreneurs by leveraging the potential of local youth through a conducive start-up ecosystem for inclusive growth in the State.
Objectives Of Start-Up Bihar
- Create, foster & promote entrepreneurship
- Nurture Young Minds
- Attracting young minds through Hub and Spoke Model
- Assistance on pre-entrepreneurship
- Entrepreneurship Resource Library
Eligibility of Startups in Bihar
- The company should be Private limited company, Partnership Firm, Limited Liability partnership and not older than 10-years.
- Not to be exceed 100 crores turn over.
- Working towards Innovation, Development, Improvements of products, Process services.
- Entity should not be considered as Start-up i.e. formed by splitting, reconstruction of existing business.
- Must be incorporated or registered in Bihar and having office in Bihar.
- Taxes from the operation of the company are payable in Bihar
Focus areas
- Agri-tech and Allied Sector
- Edu-tech
- Food Processing
- Travel and Tourism
- AI/ML/Deep Tech
- Green Energy / Environment
- Healthcare
- Electric Vehicle /Transportation / Logistic
- IoT, Drones & Robotics
- IT/ITes
- Construction / Architecture / Proptech
- Fashion / Apparels / Handicrafts
- E-Commerce
Incentives
Seed Funding
Up to Rs. 10 lakhs as Interest free loan for 10 years.
Early-Stage Funding Support
- Matching Support: Matching loan of 100% of fund raised from Angel Investors/VC-SEBI registered Category | AIFs (up to a max of Rs. 50 Lakhs)
- 2% success fee as grant on raising investment from registered angel investors
- Acceleration Program: Reimbursement of up to Rs. 3 Lakhs for completion of an Acceleration program
- Post-Seed Fund Support: Rs. 15 Lakh additional funding to scaling startups as runway fund
Scale up Funding
- To participate in SEBI registered AlFs and Venture Capital Fund for bigger funding avenues for the startups which are at commercialization stage.
- To facilitate listing and public issue of Startups in collaboration with National Stock Exchanges.
IPR Funding support
- Bear all costs towards filing domestic patents and provide financial assistance in form of reimbursement for international patents.
Other Incentives
Women led Enterprise & SC/ST/ Differently abled Enterprise shall get additional 5% (10.5 lakh) & 15% (11.5 lakh) respectively.
Selection process of Entrepreneurs for Start-up Bihar
Stages of Evaluation
- Register your startup idea by applying online at https://startup.bihar.gov.in
- Evaluation of applications by Start-up Support Unit and Experts panel through the portal.
- Startups are Categorized as A and B.
Category A: Existing Startup with some turnover
- Personal Interaction/Pitching to Expert Panel
- Approval from SMIC based on expert panel recommendation
- Award of certificate by the Department
- Disbursement of Seed Fund INR 4 lakhs/10 Lakhs)
Category B: New Application with an Innovative Idea
- Learning Module Based evaluation test
- Personal Interaction/Pitching by expert panel
- Approval from SMIC based on expert panel recommendation.
- Award of certificate and disbursement of 1st tranche of 4 lakhs
- Disbursement of 2nd tranche (INR 6 lakhs) if 80% of previous tranche is utilized
- Review by expert panel in every 3 months
Broad Activities
Key Events and Campaign
- Startup Awareness and outreach programs are conducted in various colleges in various districts by the Startup Support Team, Department of Industries to aware the youth about various benefits of Startups and how it could be a great career option for the students.
- Ideathons/Hackathons are conducted among the students and winners are felicitated. These students are further mentored to prototyping and product development
- Seed fund distribution programs are conducted to disburse seed funds to selected startups under Bihar Startup Policy.
- Matching Supports and Special incentives to Women entrepreneurs/Differently- abled/SC&ST Entrepreneurs are also provided during these programs.
- Bootcamps and Startup orientation programs are organized regularly to train startups at Zero lab, Udyog Bhavan.
- Zero lab is a pre-incubation centre formed as a joint initiative of IIT- Patna and Department of Industries, Govt. of Bihar.
- Startup Mela and Trade fairs are conducted time-to-time to give exposure to their products/services and also provide them with market access.