Bihar Sets Up Startup Policy To Offer Interest-Free Seed Fund, Coworking Space & More

Start up

To encourage entrepreneurship in Bihar, the state’s industry Minister Syed Shahnawaz Hussain has launched the Bihar Startup Policy on 29th July. Under the Bihar Startup Policy, the state government offers an interest-free seed fund of INR 10 Lakh to startups for a period of 10 years. It will also grant INR 3 Lakh for product development and training if a startup participates in an accelerator program. Besides the Bihar Startup Policy, Hussain also launched a startup portal for young entrepreneurs that are interested in availing benefits offered by the platform. For startups that manage to secure angel investment, Hussain said that such startups will receive an additional 2% of the total investment as the success fee from the state government. Read More

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