Recently, a new scheme called the Bihar Startup Policy has been launched in Bihar to boost entrepreneurship in the state. It provides incentives like Rs. 10 lakh interest-free loan for 10 years to help private organizations amid COVID impact and inflation.
Key Objectives
The main objectives of the Bihar Startup Policy are:
- Accelerate growth of MSME sector in Bihar
- Promote entrepreneurship in the state
Benefits
The key benefits offered under the scheme include:
| Benefit | Details |
|---|---|
| Financial Assistance | Rs. 10 lakh interest-free loan for 10 years |
| Training & Guidance | Support for capacity building of entrepreneurs |
The financial assistance will help entrepreneurs affected by COVID and inflation to stabilize their business.
Eligibility Criteria
To avail benefits under the Bihar Startup Policy, the key eligibility criteria are:
- Startups incorporated in Bihar
- Operations in Bihar for atleast 1 year
- Annual turnover upto Rs. 25 crores
Meeting these criteria will ensure seamless application and approval process.
Application Process
The key steps to apply for the scheme include:
- Go to Bihar Startup scheme's official website
- Create login password
- Fill all information in the online application form
- Attach required documents
- Submit form and take printout
The application process is simple and online via the portal launched under the scheme. Applicants must ensure all details furnished are accurate.
Required Documents
The list of documents required during Bihar Startup Policy application are:
- Identity proof like Aadhaar card
- Startup registration proof
- Rent agreement of the workspace
- Other relevant details
Important docs must be uploaded in specified formats for smooth processing and approval.
Conclusion
The Bihar Startup Policy offers a robust incentive framework for budding entrepreneurs. The online process and minimal eligibility criteria also facilitate wider reach across all sections. It has the potential to unleash innovation and enterprise in the state.
FAQ:
Q1: What is the Bihar Startup Policy launched for?
A1: It is launched to promote entrepreneurship in Bihar by providing financial aid and training to startups.
Q2: How much loan will be provided under the scheme?
A2: Rs. 10 lakh interest-free loan will be provided for a period of 10 years.
Q3: Who is eligible for the incentives under the policy?
A3: Startups incorporated in Bihar & operational for atleast 1 year with annual turnover upto 25 Cr.
Q4: What documents are required for scheme application?
A4: Documents like Aadhaar card, registration proof of startup, rent agreement etc. needed.
Q5: How can one apply for the startup policy benefits?
A5: Visit official website, register, fill application form online by providing required information.
Q6: Will training be provided to entrepreneurs under the scheme?
A6: Yes, support for capacity building and mentorship will also be provided.
