Bihar establishes a startup policy with an interest-free seed fund, coworking space & other benefits
To encourage entrepreneurship in Bihar, the state’s industry Minister Syed Shahnawaz Hussain launched the Bihar Startup Policy on 29th July.
Under the Bihar Startup Policy, the state government provides a 10-year interest-free seed fund of INR 10 lakh to startups. If a startup participates in an accelerator programme, it will also receive INR 3 Lakh for product development and training. In addition to the Bihar Startup Policy, Hussain has launched a startup portal for young entrepreneurs who want to take advantage of the platform's benefits. Hussain stated that startups that secure angel investment will receive an additional 2% of the total investment as a success fee from the state government.