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Institutional Framework A strong Governance structure shall be established for effective implementation and monitoring of Bihar Start-up Policy, 2022. The composition of the governance structure is as follows: a. 8ihar Start-up Fund Trust (8SFT) chaired by Development Commissioner, Government of Bihar for deliberation on the policy matters, inter-departmental collaboration and bi- annual progress review on the policy implementation outcomes. 2 '.,. '.1 b. Start-up Monitoring & Implementation Committee (SMIC) to take decisions on the matters of policy implementation, inter-departmental co-ordination or any other issues referred by PSC for decision making. c. Preliminary Scrutiny Committee (PSC) to oversee the work of Start-up support unit as we" as decision making for effective implementation of the Start-up policy. d. Start-up Support Unit (SSU) to act as single point of contact for a" Start-up related matters. 6.1 Bihar Start-up Fund Trust (BSFT) The Bihar Start-up Fund Trust is an autonomous body constituted under the Chairmanship of Development Commissioner, Government of Bihar. The composition of BSFT is as follows: I 5 No I Members 1 I Development Commissioner~=.:.;:_:..=..=:..:...=.----- I /2 I Principal Secretary, IndustrieS- _~_ ~ __ c__ [~rin~~1 Secretary, Finance _ 4 lPrincipal Secretary, Planning 15 :: 'Pri~~pal se;etary, Scienc; &'TechnoI09Y :6 I ,7 Designation Chairperson Member-Secretary Member 18 Two eminent experts in the Start-up field nominated by the Department of Industries Director liT Patna, Director CIMP I Member Member IMember 2 Representative of Associations, Organisations and Institutions promoting entrepreneurship to be nominated by the Department of Industries I t Representative of Financial M~HiagementCompanyl Society _ .. Member f ' L~ --- ---'- Member I Member 9 6.1.1 Role of Bihar Start-up Fund Trust a. Monitoring and review of Start-up policy and its implementation b. Amendments and/or modifications, if any, required in the policy c. Approve major issues like rating system of start-ups, detailed guidelines for Start-up approvals and handholding etc. 3 d. Liaison with Central and other.State Departments for effective implementation of the policy, if required e. Any other issues referred by SMIC. 6.2 Start-up Monitoring and Implementation Committee (SMIC) SMIC shall be constituted under the Chairmanship of Principal Secretary, Department of Industries, Government of Bihar. The composition of SMIC shall be: Members Principal Secretary, Industries . Director to be notified by the Department of Industries. Designation Chairperson Member-Secretary Member I Member I Member S No 1 2 3 '4I5 6 - .~ _,-- , Representative of Finance Department -Representative of Science & Technology Department Representative of IT Department - Member 17 2 Representative OtTncubatorsto be-nominated by the Department of Industries __ 2 Representatives of Associations, Organisations and , Institutions promoting entrepreneurship to be nominated by the Department of Industries Nodal Officer of SSU Member Member 8 SMIC shall meet frequently and gap between two consecutive meetings shall not be more than 45 days. 6.2.1 Role of Start-up Monitoring and Implementation Committee(SMIC) a. Overall Implementation of the Policy b. Approval for certification of start-ups c. To onboard Start-up ecosystem stakeholders such as mentors, incubators, angel investors, venture capitalist etc and develop infrastructures such as common space, Start-up portal, EDC etc d. To approve matching grants to start-ups, success-grants ~tc. e. Liaison with other state Departments for effective implementation of the policy f. Any other issues related to the effective implementation of Start-up policy. 6.3 Preliminary Scrutiny Committee (PSC) A Preliminary Scrutiny Committee shall be constituted under the Chairmanship of Director to be notified by the Department of Industries, Government of Bihar. The composition of Preliminary Scrutiny Committee shall be: IS N-o- Members Designation 1 Director to be notified bYtheDepartment ofTr1dustries.Chairperson- I 2 2 Representatives of Incubators to be nominated by Member I the Department of Industries ; 3 2 Repre'sentativeof Associatio~s, Org-anisations'and, I Mefnber Institutions promoting Entrepreneurship to be ' I nominated by the Department of Industries 4 Nodal Officer of SSU Member-Secretary 4 6.3.1 Role of Preliminary Scrutiny Committee a. Approve, tag and refer the applications shortlisted by PMN TPA to the subject related incubators. b. Assist SMIC in on boarding Start-up ecosystem stakeholders such as mentors, incubators, angel investors, venture capitalist etc. and development of infrastructures such as common space, EDC, Start-up portal etc c. Assist SMIC on various issues related to implementation of the Policy. d. Monitoring of Start-up Support Unit (SSU) e. To provide timely redressal of grievance of start-ups and other stakeholders. 6.4 Start-up Support Unit (SSU): A Start-up Support Unit (SSU) under Department of Industries shall be created for effective implementation of this Policy. SSU shall be responsible for creating a conducive policy environment for sustained growth of Start-up ecosystem in the state. It will act as single point of contact for engagement with ecosystem stakeholders such as mentors, incubators, angel investors, venture capitals etc. To manage the operations of SSU, department of industries may depute adequate manpower from the department or through a Project Management Agency (PMA). SSU may also be placed in Corporation or Company of the Government for effective functioning. 6.4.1 Role of Start-up Support Unit (SSU): a. Work as single point of contact for start-ups in the state for providing information as well as hand-holding support b. Process applications through an online portal, their screening and approval-by competent authorities c. All communications with start-ups d. Providing hand-holding support to start-ups through various stages e. Act as single window system for getting all statutory clearances for start-ups f. Act as Secretariat for implementation of Start-uppolicy g. Organise events, sessions, trainings, visits and other activities for promoting the Start-up culture 6.5 Third Party Agencies Third Party Agencies (TPA) may be taken on board for: a. Design of the rating system for start-ups b. Evaluation of applications as per the approved rating system c. Recommending certification of start-ups d. Recommending seed funding / matching grants etc as per the approved criterion based on rating achieved by the start-ups. 5 ( '- 6.6 FinancialManagementCompany An existing or new Company of Government of Bihar may be made Financial Management Company to carry out the financial operations under this policy. Financial Management Company shall disburse incentives, loans and other financial assistance to the Start-ups as decided by SMIC. It shall carry out the following activities: a. Asset Management of the Trust b. Facilitation and assistance for funding to Start-ups such as seed grant, early stage and scale-up funding and other funding support stated in the policy c. Financial assistance to develop and manage ecosystem such as Entrepreneurship Development Cells, common infrastructures etc and raise funds from multilateral donor agencies d. Facilitate Investment related decisions under the policy in a time bound manner