Highlights of Bihar Start-Up Policy, 2017 Training and Design Centre Patna NIFT ICAR Research...
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Transcript of Highlights of Bihar Start-Up Policy, 2017 Training and Design Centre Patna NIFT ICAR Research...
Highlights of Bihar Start-Up Policy, 2017
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Bihar Startup Policy, 2017: Vision :
To enable Bihar emerge as the most preferred destination forstart-ups and entrepreneurs by leveraging the potential of localyouth through a conducive start-up ecosystem for inclusivegrowth in the State
(Bihar Start-up Policy was Notified vide Notification No. 357on 17th March 2017).
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Bihar Startup Policy, 2017 Bihar Start-up policy has been designed on the following
four pillars: YUVA
Yes to Startups (Awareness, Networking and MentoringCampaign)
Unleash Regulatory Enablers for Supporting Startups
Vibrancy in Education System to encourage and facilitateStartups
Access to financing & incubation support
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Ease of Process A Startup portal has been created enabling the startups to register their
application. (http://www.startup.bihar.gov.in/)
Key features of the Start-up Portal Information services related to various facilities available for start-ups Interactive training manuals and checklist for the start-ups Simplified forms to register and submit business ideas Transparent evaluation process Timely updation of the status on portal for initial screening, short-listing etc.
A helpline number (0612-254 7695) has been dedicated to facilitate the start-ups
Once a startup is notified as a startup, the financial incentives as mentionedin the policy are available to the startups.
Further the Startups are also eligible for all the Non-Fiscal Assistance forstartups .
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Fresh Idea
District level Entrepreneurship
Development Cells
Startup Portal
Entrepreneurship Facilitation centre at
Educational and professional institutions
Cer
tific
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St
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Common Infrastructure
Government Recognized Private Incubators
State Supported Incubators
Cer
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Idea Stage Validation Stage Commercialization Stage
Funding from SEBI registered Alternate
Investment Fund
Startup
Busi
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Pla
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appr
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Handholding support for preparing Business Plan and company registration
Selection of Startups for the policy
Expert Committee will direct certified Startups to incubators
Policy Flow Chart
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Key Features - Bihar Startup Policy, 2017 Funding Support to Start-ups
Setting up of Incubators
Financial Assistance to Incubators
Regulatory Enablers for Startups
Idea Development & Networking Support
Common Infrastructure Support
Bihar Innovation Hub
PMU Support for of SC/ST/ Women entrepreneurs
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Bihar Startup Policy, 2017 What is Start-up in Bihar?
Startup means an entity, incorporated or registered in Bihar not prior tofive years
An annual turnover not exceeding INR 25 Cr. in any preceding financialyear,
Working towards innovation, development, deployment orcommercialization of new products, processes or services driven bytechnology or intellectual property.
Shall cease to avail further benefits under this policy if its turnover forthe previous financial years has exceeded INR 25 Cr. and/ or it hascompleted 5 years from the date of incorporation/ registration;
Such entity is not formed by splitting up or reconstruction of a businessalready in existance.
Provided further applicable taxes from the operations of the company arepayable in Bihar;
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Financial assistance up to Rs. 10 Lakhs per Start-up as interestfree loan for 10 years. Entrepreneur shall contribute 5% of thisfinancial assistance
Free of cost valuation for Start-ups
Facilitation for access to Angel Investors
Success fee @ 2% of investment to start-ups for mobilizinginvestments from state registered angel investors towards earlystage funding
A financial assistance equal to the amount invested in startupsby the Angel Groups and category I Alternate Investment Fundsshall be given as loan to the start-ups.
Funding Support to Start-ups
The State Govt. has set up a Trust with initial Corps of Rs. 50000 Lacs toact as a nodal agency for implementation of this policy
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Facilitation in listing and public issue of Start-ups incollaboration with National Level Stock Exchanges
Incentives under Bihar Industrial Investment Promotion Policy,2016 as per the eligibility
Govt. to bear all costs associated towards filing domestic patents
Reimbursement of fees for awarded foreign patents
Project Management Unit to specifically handholdSC/ST/Women & Differently Abled Start-ups in setting up theirventures
Additional 15% incentive for SC and ST entrepreneurs and forwomen and differently abled persons
Funding Support to Start-ups Contd.
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Setting up of Incubators All premier Government Institutions notified as incubators :
IIT, Patna NIT Patna BIT, Patna Chandragupta Institute of Management Patna Development Management Institute Rajendra Agricultural University, Pusa Bihar Agriculture University, Sabor Upendra Maharathi Institute, Patna Apparel Training and Design Centre Patna NIFT ICAR Research Complex for Eastern Region, Patna CIPET Tool Room and Training Centre Patna STPI Patna
Business associations also notified as incubators: Bihar IndustriesAssociation (BIA) and Bihar Entrepreneur Association (BEA)
Private Incubators setup on the advise of the Expert Committee.
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Financial Assistance to Incubators Reimbursement of the cost of incubating a startup maximum up
to Rs. 2 Lakhs per incubatee
Fiscal incentive to Incubators @2% of the investment receivedby its incubatee from SEBI registered Alternate InvestmentFunds into Bihar based start-ups
Fiscal Grant to State Supported Incubators @3% of theinvestment received by its incubatees from SEBI registeredAlternate Investment Funds.
@5% for start-ups in social sectors providing solutions topublic service access problems in Bihar in areas like health,education and nutrition.
Financial assistance to match funding raised from GoI &Multilateral donor agencies on 1:1 basis.
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One stop online portal for all kinds of statutory clearances fromregulatory authorities
Exemption from licensing/registration/ inspection requirementsunder various State Acts for a period of 5 years (except DrugLicense, FSSAI, Building plan approval, Fire Fighting)
Provision of Self-declaration under various labour andenvironment laws
Preference to start-ups in Govt. procurements ofproducts/services
Reservation of 10% of spaces in forthcoming industrial parks/SME Clusters for Startups/Incubators/Common Infrastructure
Regulatory Enablers for Startups
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Idea Development & Networking Support Setting up District Level Entrepreneurship Development Cells in
collaboration with Education Institutes, Bihar based industrialassociations/organizations promoting startups
Setting up Entrepreneurship Facilitation Centers at Educational& Professional Institutes
Empanelment of mentors for providing guidance to start-ups
Launching of “Udyami Bihar, Samridh Bihar” and 'BiharStartup Fest'
Entrepreneurship Awards for Start-ups
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Common Infrastructure Support Co-working spaces, cubicles, conference rooms and hostel rooms
Shared facilities like R&D labs, testing labs and tool rooms, QualityAssurance labs, warehouse, storage
Shared software and hardware like high-end printer, computers etc.
Shared services like legal, accounting, technology, patents, investmentbanking
Bihar Innovation HubFor providing incubation services to Start-up including
Shared work spaces
Professional business advisory/consultancy
Access to funding
Support at commercialization stage including networking and merger &acquisition
Valuation advisory
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Bihar Startup – Institutional Framework Bihar Start-up Fund Trust Preliminary Scrutiny Committee Start-up Investment Advisory Committee (SIAC)/ Expert Committee Single Window Clearance Committee Bihar Start-up Promotion Company Limited
Task ResponsibilityCertification of Startups Trust on the advise of the SIACAwareness Campaign. State Level Challenge/Competition & Bihar Startup Fest
Trust with assistance of financialmanagement company /any other agency(s)
Financial Assistance for EntrepreneurshipDevelopment Cell/ Facilitation Centre
Trust with assistance of financialmanagement company
Setting up One Stop Bihar Startup Portal Trust with assistance of financialmanagement company/ any other agency(s)
Statutory License/ Registration under various Actsrequired for running a business Single Window Clearance Committee
Recommend Reforms in Education System Trust with assistance of Technical HigherEducation Institutes
Funding/Incentive(s) appraisal
Financial Management CompanyInvestments in StartupsIncubation Support for StartupsCommon Infrastructure & Bihar Innovation HubZero Cost IP Registration
Responsibility Matrix
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Standard Operating Procedure for Bihar Startup Policy, 2017
7. Proposal forwarded to SIAC for Review
4. Approved entrepreneurs assigned to Incubator (approved by Bihar Start-up Fund Trust)
2. Scrutiny of proposal by Preliminary Scrutiny Committee
6. Proposal forwarded for financial support to Bihar Start-up Fund Trust
1. Online application by Entrepreneur through www.startup.bihar.gov.in
A. Certification of Start-ups by Bihar Start-up Fund TrustB. Seed Grant released to Start-up (Rs. up-to 10 Lakh)
For review and recommendation
Recommendation for Support
3. Final list of proposals placed to Bihar Start-up Fund Trust for approval
5. Incubation Process and Preparation of Business Plan
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Standard Operating Procedure Contd.
SIDBI’s Fund of Fund
Angel Fund(Empanelled on
Recommendation of SIAC
Bihar Start-up Investment Company Limited(Investment by the company are to be made on approval of Bihar Start-up Fund Trust)
State Government
Private Venture Fund(Empanelled on
recommendation of SIAC
Investment in Bihar based Start-ups
LoanVenture Capital Venture Capital
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Bihar Startup Policy – Key Achievements
No. of applicants registered on startup portal: 2142 No. of potential start-ups assigned for Incubation support for developing
business proposal : 309
No of Potential Start-up sent to SIAC for final recommendation : 43 No of Startups to whom financial incentive has been released : 21 No. of Incubators being run in association with BIA & BEA : 2 No. of incubators being run by Technical/Management Institutes: 14 No. of start-up yatras, business meets, workshops etc. : 20+ Establishment of Venture Capital Fund of Rs. 500 Crores
IIT-22 NIT-16 CIMP-53 NIFT-12 BAU, SABOUR-25
BIA-66 BEA-57 BIT-21 DMI-25 Central Univ.-1TRTC-01 RAU-01 UMSUS-09
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Business Idea: To establish a laundry service for shoes and other leather products
Target group: Persons with age16-60 years with a monthly income of approx Rs 30,000.
The premium services is targeted at the upper middle class, businessmen and the elites.
There are approx 10 Lac potential customers in Patna.
Differentiation: Organized and first in Bihar offering this service and concept. Affordable service cost. Repairing, cleaning and makeover of all kinds of shoes, bags and jackets. Customized shoes. Option of express delivery within 36 hours. Seasonal offers. Selling of shoe accessories, Automatic shoe polishing machine, wall mountain shoe racks
Assigned Incubator: Bihar Industries Association, Patna
Revival Shoe Laundry Pvt. Ltd.
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Prosperita Medi360 Private Limited
Business Idea: To provide quality healthcare services to low income population in areas where there isa paucity of doctors. The business comprises of the following components:
1. Technology Platform - Medi360 Hospital / Clinic in a Box, a cloud based End to End Technologyenabled low cost Tele- health solution which comprises of:
a) Electronic Medical Recordsb) Integrated diagnostic devices – Vitals (BMI, Temperature, BP, SpO2), ECG, Blood Glucose
and other strip based blood tests as requiredc) Remote consultation and Prescription
The deployment is in the form of mobile unit accessed through an Android Tablet
2. Doctors network with committed capacity from General Practitioners with additional capacityprovided on schedule by specialists
3. Medi360 Clinics: A last mile delivery network leveraging private operators to set up Medi360clinics; (Pharmacies, village entrepreneurs etc) manned by technicians and a strong operationalframework to manage on ground operations
Assigned Incubator: Bihar Entrepreneurs Association, Patna
The product is in the market and running for more than 7 months across 10 centres.Over 6000 patients across these 10 centres have been benefitted Over this period 33% of patients have come back to these centres, which is considered as
a high retention rate for the service
MavenSouk is an online aggregator based nichephotography portal where end users can book aphotographer through competitive bidding process.
MavenSouk also helps Photographers to findfreelance Photographers as and when required.
It provides one stop online CRM solution toPhotographers to manage their complete businesswhile end-users enjoy one click booking fromlargest verified selection of photographers andcustomized photography packages.
It offers unique proposition to users which includecustomized membership plans, personalized webpages, milestone badges, equivalent bookingcoupons and Cost- Value based comparison.
Assigned Incubator: National Institute of FashionTechnology. Patna
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An Online Aggregator Based Photography Service Provider Provides an app based platform to minimal job
seekers like Carpenters, Electricians, Painters,Plumbers and other skilled persons
Provide option for advance booking for theservices so that the work will be done on time.
Creates employment opportunity for the oneswho are not getting jobs and thinking to migrateto other cities despite of having specializedskills.
Assures quick delivery of services that tooavailable at minimum rate of Rs. 99.
LinkBa being a platform for multiple serviceshelps customer by offering wide range ofservices, also the customers do not have to takethe pain to search for the labour in the market.
Assigned Incubator: Chandra Gupta Institute ofManagement
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Bihar Startup Yatra - 2016
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An Interactive session in a college during Bihar Start-Up Yatra
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Thank You!For any further details, please contact:
Dr. S. SiddharthPrincipal Secretary,Department of IndustriesMob #: +91 70708 95721Email: [email protected]
Shri Ravindra PrasadDirector (Technical Development) Department of IndustriesMob #: + 91 94318 15845 Email: [email protected]
Shri Pankaj Kumar SinghDirector IndustriesDepartment of IndustriesMob #: +91 99319 66005Email: [email protected]
