PATNA: State industries minister Syed Shahnawaz Hussain on Saturday said the government was committed to improving the ecosystem for startups in Bihar. He hoped that young entrepreneurs from Bihar will set up ventures in their home state instead of going to places like Delhi, Mumbai, Hyderabad and Bengaluru.
Addressing a function to mark the inauguration of the fourth annual Bihar Startup Conclave organised by Bihar Industries Association (BIA) with the support from industries department at Gyan Bhawan here, Shahnawaz said an ideation lab would be set up at Udyog Bhawan in the city soon for which a memorandum of understanding has been signed with IIT-Patna.
“Entrepreneurs have started developing startups in all districts of Bihar. The entire country is appreciating our startups. Investors from other states are also taking interest in setting up industries here. Several cells have been established by the industries department to assist the startups. Our goal is to turn Bihar into a startup capital,” Shahnawaz said.The conclave welcomed over 600 startups from across the country. According to officials, Bihar’s Rs 500-crore startup policy has been approved. An initial investment of Rs 2.7 crore was made at the event on Saturday. The industries minister handed over cheques for Rs 8 lakh and Rs 60 lakh to startups which emerged winners in the pitching session on Friday. Devesh Jha and Suman Kumar took first place in the competition, followed by Rashmi Kumari and Sandeep Kumar (second), and Santosh Kumar and Ravindra Sharma (third) for New Innovative Start-Up Ideas.
BIA hosted four panel discussions in which successful entrepreneurs discussed startup policies in depth.“In India, the startup policy was implemented in 2016, and Bihar was the first state to launch startups with a seed fund of Rs10 lakh. Although it was challenging at first, the situation in Bihar is now improving considerably,” said S Siddharth, principal secretary to chief minister.
He urged the business community to come forward and assured that the government would provide them all assistance.
Addressing a function to mark the inauguration of the fourth annual Bihar Startup Conclave organised by Bihar Industries Association (BIA) with the support from industries department at Gyan Bhawan here, Shahnawaz said an ideation lab would be set up at Udyog Bhawan in the city soon for which a memorandum of understanding has been signed with IIT-Patna.
“Entrepreneurs have started developing startups in all districts of Bihar. The entire country is appreciating our startups. Investors from other states are also taking interest in setting up industries here. Several cells have been established by the industries department to assist the startups. Our goal is to turn Bihar into a startup capital,” Shahnawaz said.The conclave welcomed over 600 startups from across the country. According to officials, Bihar’s Rs 500-crore startup policy has been approved. An initial investment of Rs 2.7 crore was made at the event on Saturday. The industries minister handed over cheques for Rs 8 lakh and Rs 60 lakh to startups which emerged winners in the pitching session on Friday. Devesh Jha and Suman Kumar took first place in the competition, followed by Rashmi Kumari and Sandeep Kumar (second), and Santosh Kumar and Ravindra Sharma (third) for New Innovative Start-Up Ideas.
BIA hosted four panel discussions in which successful entrepreneurs discussed startup policies in depth.“In India, the startup policy was implemented in 2016, and Bihar was the first state to launch startups with a seed fund of Rs10 lakh. Although it was challenging at first, the situation in Bihar is now improving considerably,” said S Siddharth, principal secretary to chief minister.
He urged the business community to come forward and assured that the government would provide them all assistance.