Type of Benefit

Non-Fiscal

  Benefit Details

1. Start-ups shall be exempted from licensing/registration for  operations under various\State Acts for a period of 5 years. However, Statutory Licenses (such as Drug License, FS1SAI, Building Plan, Fire Fighting) shall be required to be obtained by the Start-up if its nature of business/activity may lead to potential threat to life and safety, in such cases Government shall bear the cost of license(s).
   
   
2. Start-ups shall be exempted from inspections by Government Regulatory Agencies for a period of five years unless there is threat to life and safety. In case a unit has to be inspected for certain reasons, the permission of the District Magistrate shall be obtained

Self-Declaration shall be submitted by Start-ups annually as per the format prescribed by State Government

Type of Benefit

Non-Fiscal

Benefit Details

State Government Departments/ PSUs shall be advised to give preference to Start-ups in procurement process for products/ services

Type of Benefit

Fiscal

Benefit Details

State Government shall endeavour to allot 10% of spaces in forthcoming industrial parks, SME Clusters and Hub for Start-ups/incubators/ Common Shared Infrastructure on preference.

Type of Benefit

Fiscal

Benefit Details

A Seed Grant of up to Rs 10 Lakhs per Start-up as interest free loan for 10 years shall be provided to start-ups. This financial assistance shall be released on achieving milestones/phases and performance parameters as defined in the rating system. The financial assistance may also be provided to start-ups for validation of idea, prototype development, assistance towards travelling costs and carrying out field/ market research/ skill training/ marketing and initial activities to setup a Start-up etc. The actual amount of funding shall be based on the assessment made by rating agency. The loan shall be returned after 10 years.

• Startups have to be certified by the Nodal Agency.

• Startups must be registered with an incubation centre.

• Startup should be at a commercialization stage.

Contact Startup Bihar

• Startup has to be certified by the Nodal Agency.

• Should be an early stage startup.

• Startups that have obtained funding from State registered angel investors.

• Register on the Startup Bihar portal as a startup and get recognized.

• Apply for benefit through the portal.

Type of Benefit

Fiscal

Benefit Details

A financial assistance up to an amount equal to the amount invested in start-ups by the Angel Groups and Category- I Alternate Investment Funds may be given as loan to the Start-up. The rate of interest and terms and conditions of the loan shall be notified by the SMIC from time to time.

Type of Benefit

Fiscal

Benefit Details

Intellectual Property (IP) is an invaluable business tool for start-ups, or entrepreneurs, providing initial start to one's business. Investors weigh IPs heavily and create good value for venture. To encourage the registration of IPRs (Intellectual Property Right) by Start-ups and provide facilitation support for protection and commercialization of IPRs, Government shall:

a. Bear all costs associated towards filing domestic patents.

b. Provide additional financial assistance in form of reimbursement for awarded foreign patents towards filing fees.

Entrepreneurs will avail additional grant/exemption/subsidy other than the limit fixed under the above clauses of the policy.

• Women Enterprise - additional 5%

• SC/ST - additional 5%

• Differently Abled - additional 15%

• Additionally, 22% (20% SC/2%ST)of the total corpus for funding startups shall be reserved for SC/ST

• Register on the Startup Bihar portal as a startup and get recognized.

• Apply for benefit through the portal.