Nowadays, many youth dream of becoming entrepreneurs and creating jobs for others. Often, despite having great and unique business ideas, their dreams remain unfulfilled due to lack of funds. If you live in Purnia, Bihar, are educated and have a unique business idea, then this information is very useful for you. Now you can get interest-free funding up to ₹25 lakh from the government based on your idea.
**Bihar Government Startup Policy 2022**
Sanjay Srivastava (Project Officer) and Sanjeev Kumar (District Industries Officer) of Purnia District Industries Center said that the Bihar government has started ‘Startup Policy 2022’ to help the youth fulfill their dreams. The main objective of this scheme is to provide timely interest-free funds to the youth of Bihar through local banks, so that they can easily start their new and unique startups.
**How does this scheme work?**
According to officials, under this scheme you will have to share a unique and new idea related to your new or existing business with the government. After your application, a team of relevant officials of Bihar Government will review your idea. If your idea is approved, officials will contact you. After getting complete information about your project, the loan amount will be sanctioned by local banks.
**Financial assistance in two phases**
Initially, under this scheme, youth are given an interest-free loan of ₹ 10 lakh from local banks to start their business. Subsequently, if the startup performs well, has a good transaction record and generates employment, an additional amount of up to ₹15 lakh is given as ‘post-seed money’ by the government or other investors. This takes the total financial assistance to ₹25 lakh, through which entrepreneurs can expand their business.
**Eligibility and Required Documents**
If you want to avail the benefit of this scheme, then it is necessary to have passed at least 8th, 10th or 12th class. These documents will be required for application:
passport size photo
PAN card
caste certificate
proof of educational qualification
Other required documents and proof of identity
apply here
The youth who want to take advantage of this scheme with their unique idea can apply online by visiting the official website of Bihar Government www.startup.bihar.gov.in.
