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=t I()(,l'2-0 2.- 'l_ File No. - 4Tech.lStart-up policy amendmenV155t2021 Copy to: The Superintendent, State Printing Press, Gulzarbagh, Patna to publish in the special edition of Bihar Gazette. It is requested to print 1000 copies of the published gazette and make it available to the Department. ~ Zi) b1'YL.. Principal Secretary, Department of Industries, Bihar, Patna. Memo No- 15b'2... tPatna, Dated- Q..'1- ( 0 b 12.. 0'1 L File No. - 4Tech.lStart-up policy amendmenV15512021 Copy to: Principal Secretary of Chief Minister, Bihar IP.S to Industry Minister, Industry Department, Bihar, Patnat O.S.D to Chief Secretary, Bihar, Patnat P.S.S to Development Commissioners, Bihar, Patna for information. ~b)~ Principal Secretary, Department of Industries, Bihar, Patna. 13 Memo No- I 5 D~ IPatna, Dated- 2.::r lOb (Q..O?- L File No. - 4Tech.lStart-up policy amendment/155 12021 Copy to: All Additional Chief Secretaryl All Principal Secretaryl All Secretaryl All Heads of Departments, Bihar, Patnal President- Cum- Managing Director, Bihar State Power (Holding) Company Ltd. Patna for information and necessary a~tion.. 'l.,,) '" \-....v Principal Secr tary, Department of Industries, Bihar, Patna. Memo No- r 5 o f).... IPatna, Dated- 2..;r, 0 b ( 2.._Q~2- File No. - 4Tech.lStart-up policy amendmenU15512021 Copy to: Director of Industries 1 Director, Technical Development 1 Director, Food Processing 1 Director, Handloom and Sericulture, Industries Department, Bihar, Patnal Director, M.S.M.E.D.I, Patna, Muzaffarpur for information and ~ 'l.~'~'">1- Principal Secretary, Department of Industries, Bihar, Patna. Memo No- t 5o'l- IPatna, Dated- 2- ':J- ( 0 (:,I 2.() I)..L File No. - 4Tech.lStart-up policy amendmentl155 12021 Copy to: All Divisional Commissionersl Resident Commissioner, Bihar Bhawan, New Delhi IAII District Magistrate/AIi Deputy Development Commissioners/AIi General Manager, District Industries Center, Bihar for information and necessary action. 'l."" ~~C)1., Principal Secretary, Department of Industries, Bihar, Patna. Memo No- , 5o 'l.. IPatna, Dated- 2..=t- ( 0 (. 12..0 I} ':L File No. - 4Tech.lStart-up policy amendmentl155 12021 Copy to: The Accountant General (Accounts & Title), Bihar, Patnal All Treasury Officer, Bihar, for information and necessary action. r--b) ~~~,~ Principal Secretary, Department of Industries, Bihar, Patna. Memo No- f 5t)'l.. IPatna, Dated- Q_ =1-1 0(, 1'2..0 "L ~ File No. - 4Tech.lStart-up policy amendmentl155 12021 Copy WIT Manager, Department of Industries, Bihar, Patna for uploadin he copy of the resolution on the Departmental Website. ~...,~~,~ Principal Secretary, Department of Industries, Bihar, Patna. 14 Annexure Definitions Acceleration Program: An Acceleration programs is typically a 3-4 month program for Start-ups at early traction and scaling stage. It is a process of intense, rapid and immersive education aimed at accelerating the growth of the Start-up. An.gel Investor: Angel Investor is (also known as business angel/informal investor) an individual or group of investors who invest in Start-ups at an early commercialization stage in return of convertible debt/equity. Alternate Investment Funds: Alternative investment funds (AIFs) are defined in Regulation 2(1) (b) of Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. It refers to any privately pooled investment fund, (whether from Indian or foreign sources), in the form of a trust or a company or a body corporate or a Limited Liability Partnership (LLP) which are not presently covered by any Regulation of SEBI governing fund management (like, Regulations governing Mutual Fund or Collective Investment Scheme) nor coming under the direct regulation of any other sectoral regulators in India-IRDA, PFRDA, RBI. Category I Alternate Investment Funds: Category I Alternate Investment Funds are defined in Regulation 3(4) (a) of Securities and Exchange Board of India (Alternative Investment Funds) Regulations, 2012. It refers to AIFs which invest in Start-up or early stage ventures or social ventures or SMEs or infrastructure or other sectors or areas which the government or regulators consider as socially or economically desirable and include venture capital funds, SME Funds, social venture funds, infrastructure funds and such other Alternative Investment Funds as may be specified. Commercialization Stage: Commercialization Stage refers to an integral stage in lifecycle of Start-up wherein Start-ups scale up their business and commercial.izeproduct! services. Differently abled: As defined in "The Rights of Persons with Disabilities Act, 2016 and any other statue enacted for the welfare of person with disability. Entity: Entity refers to Private. Limited Company (under The Companies Act, 2013) or a Registered Partnership Firm (under section 59 of The Indian Partnership Act, 1932) or Limited Liability Partnership (under The Limited Liability Partnership Act, 2008). Financial Management Company/ Society: means as per para 6.6. Fund Manager: Financial Management Company/ Society shall appoint one or more fund managers for managing the fund and activities mentioned under this policy. Government: means Government of Bihar in this Policy unless otherwise specified. Idea Stage: Idea Stage refers to an integral stage in lifecycle of Start-ups wherein feasibility analysis of the idea is performed to evaluate the success/failure of the concept. Incubator: Incubator means physical spaces which helps entrepreneurs to convert their ideas in becoming successful and profitable ventures by supporting them in business planning, mentoring, , 15 recruiting their top team, commercializing their technologies, developing their products, getting early seed funding, help in forging partnerships at the national and global level, advice on intellectual property, training and development and many other things. This could be a private agency or a government institution. Mentoring: Mentoring is generally a pool of industry experts/ academicians that help Start-ups by providing unbiased guidance, strategic support and thinking and help them build their network. Preliminary Scrutiny Committee (PSC): means as per para 6.3. ~ Registered: Registered refers to an entity registered with Registrar of Companies (RoC) 8ihar. Seed Grant :Seed Grant is a financial assistance provided to Start-ups to develop a prototype product and generate sufficient investor interest for subsequent rounds of funding. Terms and conditions of the financial assistance are mentioned in para 12.5.1. Scheduled Caste (SC) IScheduled Tribes (ST) Enterprise: Enterprise fully owned by SC/ST. Partial shareholding of SC/ST inan enterprise shall not be treated as SC!ST enterprise. Start-up Support Unit (SSU): means as per para 6.4. Start-up Monitoring and Implementation Committee (SMIC): means as per para 6.2. State Supported Incubators/Incubation Center: means incubator(s)supported by Government of Bihar and! or Government of India. T81: A Technology Business Incubator (TBI) as recognized by Department of Science and Technology, Government of India. Trust! Bihar Start-up Fund Trust: Trust means a nodal agency constituted by Department of Industries, Government of Bihar under The India Trusts Act, 1882 for the purpose of policy review and implementation of this Policy. Validation Stage: Validation Stage refers to an integral stage in lifecycle of Start-ups wherein the product/service is produced and delivered in a limited capacity which can be scaled up upon the success and requirement. Venture Capital: Venture Capital is the fund invested in Start-up at commercialization stage upon critical appraisal of the project undertaken by venture capital companies. The capital is generally invested in return of equity shareholding. Woman Enterprise: An enterprise headed by woman where 100% stake is owned by woman. Partial shareholding of Woman in an enterprise shall not be treated as Woman enterprise. 16