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Bihar Startup Policy 2022

Recently, a new scheme has been launched in Bihar with the name of the Bihar Startup Policy 2022. Bihar Startup New Policy Scheme has been started by the Government of Bihar. Under this scheme launched by the government, the young entrepreneurs of Bihar will be provided financial assistance to start a business. Under this scheme, the Government of Bihar will provide loans up to Rs 10 lakh to the young entrepreneurs of Bihar without any interest rate. This loan will be given by the government for 10 years.

Objective of Bihar Startup Policy 2022:

  • The main objective of Bihar Startup Policy 2022 is to encourage startups in the state, for which the state government will provide interest free seed funds of up to Rs 10 lakh to young entrepreneurs for a period of 10 years.
  • In addition, if the organization wants to engage in any acceleration initiatives, it will get an additional 3 lakh rupees.
  • The primary objective of this startup policy is to accelerate the growth of the MSMEs sector in Bihar.
  • This policy also focus on the handloom industry, the clothing industry, handicrafts, industries in relation to the benefit of villages, etc.

Bihar Startup Policy 2022 Benefits:

  • Bihar’s startup policy was launched in Bihar in the month August 2022 to boost entrepreneurship in the state
  • Young Bihar entrepreneurs would get a loan of 10 lakh without interest for ten years. This sum will be allocated as seed money under the Bihar Startup Policy 2022.
  • Enhanced incentives of 5 percent for female entrepreneurs, in addition to a grant of 3 lakh rupees for businesses that participate in “rigorous training for product improvement and finance.”
  • In addition to shared office space, there are financial incentives and other amenities available.
  • Created a startup platform for young business people in the state of Bihar who is interested in taking advantage of the policies and programs available to them.

Bihar Startup Policy 2022 Eligibility Criteria :

To get the benefits under any government program or schemes, it is necessary for the candidates to fulfill certain eligibility criteria related to it. Similarly, in order to get the benefits of Bihar Startup Yojana started by the Bihar State Government, it will be mandatory for the candidates to fulfill the following eligibility criteria set by the State Government:-

  • To apply under Bihar Startup Policy, candidates must be a permanent resident of Bihar state. 
  • Such interested young entrepreneurs of the state who want to apply under this policy, their age should be minimum 18 years.  

Bihar Startup Policy 2022 Documents Needed:

The documents needed for Bihar Startup Policy 2022 are: 

  • Valid Email ID (the email should be valid for at least 1 year).
  • Mobile no. linked with Aadhar
  • Passport size photo
  • Scanned Image of
    • Aadhar card and Pan card
    • Caste certificate (Not required for general category)
    • Educational qualification Certificate
    • Proof of entity (If the entity is registered)
    • Balance Sheet
    • Given format filled with details and signature

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Note: This Post was last updated on September 5, 2022

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Sunita
Sunita

Founder & Director | COO & CHRO at eTaxFinance | Content Writer at eTaxFinance Blog | Department Head for Intellectual Property & Startup Team | Head-Corporate Strategy and Planning