In the 4th Bihar Entrepreneurship Summit, organized by the Association of entrepreneurs of Bihar on Tuesday, Bihar StartUp Policy 2017 was released by Chief Minister Nitish Kumar. Bihar is one of the few states in India to possess a startup policy that has been drafted and launched in 2016. It had been re started last week, and was afterwards repealed to include changes based on the ideas and comments. Talking in the event, Kumar noted support the youth to take to entrepreneurship and the various government schemes introduced to empower girls. We set up a Rs 500 crore fund to support and facilitate entrepreneurship, and have given the youth and entrepreneurs a revised startup policy, he explained.
He also requested the committee shortlisitng the startup applications for funds to be more communicative therefore there is full openness in the choice procedure. The purpose of the policy is to empower Bihar to appear as the most preferred place to go for entrepreneurs and startups. The brand new policy was framed on the idea of comments received from various stakeholders, such as mentioned by the authorities in an official document. The 2017 startup policy intends to empower Bihar appear as the most preferred place to go for startups and entrepreneurs by leveraging the capacity of local youth by way of a contributory startup ecosystem for inclusive increase in the State. It primarily focusses on capitalising upon the power of youth aka YUVA – YES to startups, Unleash regulatory enablers for startups that are encouraging, Vibrancy in schooling system ease and to encourage Access, and startups to incubation and funding support. The policy framework continues to be construct in line with goals like encouragement and development of entrepreneurship, ease infrastructural support as well as monetary, and much more.