Bare ActsThe Bihar Startup Policy 2022

Section 1

Preamble 1

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Preamble 1.1 Bihar is progressing fast on the track of development, with unrelenting efforts being made towards strengthening infrastructure and promoting industrial growth. Government of Bihar is committed to improve competitiveness of the state's economy and achieving inclusive growth. Start-ups and Innovation playa key role in economic growth. This can be realized by promoting innovation and creating an ecosystem that nurtures start-ups from concept to commissioning. Apart from creating jobs, start-ups focus on innovation to create next gen solutions which bring economic dynamism. 1.2 Government of Bihar formulated and notified Bihar Start-up Policy, 2016 to create an independent and transparent eco system, where the state shall provide funding, promotion and policy support which was later amended as Bihar Start-up Policy 2017.The State has setup a Trust, with an initial corpus of INR 500 crores, which acts as the nodal agency for implementation of this policy. 1.3 In order to further boost the ecosystem and to make it more holistic and beneficial for the youth and entrepreneurs of the state, the Government has approved the Bihar Start-up Policy, 2022. This policy also aims to broad base the coverage, with an effective and faster implementation process.

Section 1 – The Bihar Startup Policy 2022 | DailyLaw.ai