Bihar govt selects 32 Startups for giving financial assistance : SuMo

Speed Post News Network

Patna : Bihar Deputy Chief Minister Sushil Kumar Modi ( SuMo) on October 11, 2017, said that the word `Startup’ was not known to him till 3-4 years ago. After PM Narendra Modi Ji launch the idea of Startup and enacted the Startup Policy in the country,within a short span of 2 years, 8-9 States have framed their Startup Policy and now working to promote the Startups in their respective State. Bihar is the one of them having 18 institution supporting the startups with the help of the government, Modi said while inaugurating Bihar Startup Conclave 2017 at Hotel Maurya, Patna. The conclave has been organised by Bihar Industry Association (BIA).

Modi said the government has selected 32 startups for providing financial assistance under its Startup Policy. He suggested the youths of the state coming up as Startups to work in the field of digital payment, digital infrastructure, digital governance, digital process because there are lot of scope in these field. He said that due to launch of digital payment system, the government has saved Rs 58,000 crores. Giving an example of success of digital payment system, he said that the state government has successfully transferred flood relief support fund into the account of 40 lakh flood affected people.

He said that without innovation society will become stagnant. The demonetization and implementation of GST Tax System is a kind of innovation, he said. It is true that due to demonetization and implementation of GST growth rate of the country has slightly declined but it is a temporary phenomenon and in the long run country will be benefit a lot by these decisions.  Industry Minister Jai Kumar Singh called upon the youth of the State to always think about innovative business ideas as anyone can become a big entrepreneur. BIA President K P SKeshri said that in recent days Business Ecosystem has witnessed a drastic change.

Bihar Industries Association has established an Incubation Centre known as VenturePark with the help of Department of Industry, Government of Bihar, to promote and help to convert the Business Ideas into Business Models. The BIA – VenturePark is providing all sort of help and guidance to the Startups coming with an innovative business ideas.