Question: What are the advantages of Bihar Startup Policy?

Answer: Benefits under Bihar Startup Policy:

under Bihar Startup scheme ?1. Biharâ€™s startup policy was launched in Bihar in the month August 2022 to boost
entrepreneurship in the state. 2. Young Bihar entrepreneurs would get a loan of 10 lacks without interest for ten years. This sum will be
allocated as seed money under the Bihar Startup Policy. 3. Enhanced incentives of 5 per cent for female entrepreneurs, in addition to a
grant of 3 lakh rupees for businesses that participate in â€œrigorous training for product improvement and financeâ€​. 4. In addition to
shared office space, there are financial incentives and other amenities available. 5. 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.Who may apply for Bihar
Startup scheme ?1. Up to a period of ten years from the date of incorporation/ registration, if it is incorporated as a private limited
company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act,
1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008). 2. Turnover of the entity for any of the
financial years since incorporation/ registration has not exceeded one hundred crore rupees. 3. The entity is working towards innovation,
development or improvement of products or processes or services, or if it is a scalable business model with a high potential for
employment generation or wealth creation. 4. Provided that an entity formed by splitting up or reconstruction of an existing business shall
not be considered a â€˜Start-upâ€™. 5. Provided Start-up must be incorporated or registered in Bihar and have an office in Bihar. 6.
Provided further applicable taxes from the operations of the company are payable in Bihar.How to apply for the scheme ?1. To register
for the Bihar Startup Policy, applicants have to open the official website. 2. Now from the homepage, select the register option. 3. A new
page will appear on the screen read all the instructions carefully and move forward. 4. Answer the 8 questions out of 10. 5. After
answering the question, the registration form will appear on the screen. 6. Enter the details in the application form and click on the
submit option. 7. Registration will be done successfully. 8. Take a printout of the application form.What is the URL to apply online ?
Click on the following link. https://startup.bihar.gov.in/apply-newWhat documents are required while submitting the online application ?
1. Valid Email ID (the email should be valid for at least 1 year). 2. Mobile no. linked with Aadhar. 3. Passport-size photo. 4. Scanned
Image of required documents.What will be the loan amount provided under startup scheme ?Young Bihar entrepreneurs would get a loan
of 10 lacks without interest for ten years. This sum will be allocated as seed money under the Bihar Startup Policy.Can other state
students also apply for this scheme?No, Provided Start-up must be incorporated or registered in Bihar and have an office in
Bihar.Provided further applicable taxes from the operations of the company are payable in Bihar.How much Incentives will be provided
for Female Entrepreneurs ?Enhanced incentives of 5 per cent for female entrepreneursSources And
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To avail these benefits, you need to meet the following eligibility criteria: BiharBihar Startup PolicyBusinessEntrepreneurshipFinancial AssistanceSetup IndustriesDetailsBenefitsEligibilityApplication
ProcessDocuments RequiredFrequently Asked QuestionsThe government of Bihar is making continuous efforts to improve the economy.
In this process, the Bihar government has started the Bihar Startup Policy. This policy is to boost entrepreneurship in the state of Bihar.
The primary objective of this startup policy is to accelerate the growth of the MSMEs sector in Bihar.OkWas this helpful?ShareNews
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