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Startup Jharkhand

The Government of Jharkhand has launched the ‘Startup Jharkhand’ initiative to promote eco-system of Startups in the state of Jharkhand. Under Jharkhand Startup Policy 2016, various incubation centres were set up by the state government to promote the growth of at least 1,000 innovate technology-based startups throughout the state. In this article, we look at the “Startup Jharkhand” in detail.

Objectives of the Startup Jharkhand

Below are the goals of Startup Jharkhand:

• To support the development of a minimum of 1000 creative businesses that are based on technology across the state.
• The aim is to provide comprehensive support for startups by generating a total of 100,000 square feet of incubation space.
•  To build a fund of funds (FOF) by Public Private Partnership to promote start-ups in the state. 
• To establish a strong foundation where academia and industry can work together to enhance each other's efforts.

 Focus Sector 

•  Education 

 Policy Period 

The start-up program will be in operation for five years, beginning on January 1st, 2016 and ending on December 31st, 2021.

Assistance and financial backing for the establishment of a new business or enterprise.

The services offered by Startup Jharkhand are as follows:

Support for Self Declaration

Requirements for Qualifying for Aid

To be eligible for assistance under this startup policy, certain criteria listed below must be met.

• The new business needs to be officially registered in Jharkhand and its yearly revenue should be under Rs.25 Crores. Additionally, the company should not have been incorporated for more than 5 years.
• It is advisable for the startup to limit its workforce to no more than 50 individuals.

 Benefit Details 

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 Incentive for Patent Filing 

 Eligibility Criteria 

To be eligible for a reward for submitting a patent, the criteria listed below must be met.

• To be eligible, the Startup must have been created less than 5 years ago and have a turnover of less than Rs. 25 Crores, with registration having taken place in Jharkhand.
• It is not advisable for the startup to employ a workforce exceeding the number of 50 individuals.

 Benefit Details 

The costs of filing domestic or international patents for Startups will be completely reimbursed by the State Government.

 Eligibility Criteria 

In order to receive help with rental expenses, certain requirements must be met.

• The newly created company must be enrolled in Jharkhand state and its total revenue should be under Rs.25 Crores. Additionally, it shouldn't be more than five years since its establishment.
• It is not recommended for the Startup to exceed a staff count of 50.
• advance by the company to ensure that it is ready for use before the employees start working. It is also important to consider the location of the office space in relation to transportation, parking facilities, and accessibility for employees. The space should be adequate to accommodate the equipment, furniture, and other needs of the staff. Furthermore, it should be designed in a way that promotes productivity and comfort for the employees. Aesthetics should also be taken into consideration as it reflects the company's image. It is essential to prioritize the safety and security of the office space to protect the company's assets and staff. Finally, the lease agreement should be carefully reviewed to avoid any legal issues or disputes in the future. Rewritten: Prior to the commencement of operations, companies must secure and lease office space that is suitable and readily available for their workforce. Alongside this, it is imperative to factor in critical location considerations that include accessibility and appropriate parking facilities for the employees. Additionally, adequate space must be allocated for the varied equipment and furniture as well as other requirements of the company's workforce. The office should be designed in a way that promotes a conducive and comfortable working environment for employees and reflects the image of the company. Safety and security should also be given the highest priority to safeguard the company assets and staff. Finally, it is crucial to review the lease agreement thoroughly to prevent any possible legal issues or conflicts in the future.Software Technology Parks of India(STPIs) refers to software technology parks or special economic zones/multi-purpose parks dedicated to information technology.

 Benefit Details 

Startups that have rented office spaces in STPIs or IT/multi-purpose SEZs/IT Parks will receive a reimbursement of 50% of the cost of the lease rentals from the Jharkhand Government. This reimbursement will be limited to a maximum of Rs. 5 lakhs per year and will be applicable for the first three years.

 Utility Bill Reimbursement 

 Eligibility Criteria 

To receive help with the cost of their utility bills, individuals must meet the following requirements.

• The beginning company needs to be officially registered in Jharkhand and its profits should not exceed Rs.25 Crores, and it should have been established for no more than 5 years.
• It is recommended that the startup does not employ more than 50 individuals.

 Benefit Details 

• The State Government will provide a refund of 30% of the amount paid to the Internet Service Provider, and up to Rs. 60,000 per year on bills that have been verified by the individual, for a period of five years starting from the registration date of the Startup.
• The Startup can receive a reimbursement of 30% of the money paid to Electricity dis-coms, with a maximum amount of Rs. 60,000 per year, if they provide self-certified bills.

 One-Time Idea Grant 

 Eligibility Criteria 

• The newly established business must be certified in Jharkhand and have a revenue under Rs.25 Crores, while also being less than 5 years old since its initial registration.
• It is not recommended for the Startup to employ a workforce exceeding 50 individuals.

 Benefit Details 

A monthly allowance of Rs. 5000/- will be given for a period of one year to a maximum of three individuals involved in a startup or innovative project.

 Eligibility Criteria 

To receive help with marketing expenses, certain requirements must be met.

• The startup must be registered in Jharkhand and its turnover should not exceed Rs.25 Crores. Additionally, the startup should not be more than 5 years old from the date of incorporation.
• It is advisable for the Startup to limit its employment to a maximum of 50 individuals.

 Benefit Details 

Startups that meet the eligibility criteria will receive a one-time marketing grant of 1 million rupees from the State Government.

 Incentive for the Incubators 

Below are the incentives that are offered to the incubators:

 Mentoring Assistance 

 Eligibility Criteria 

• The following requirements must be met by the incubators.
• The SEB must authorize the incubator to guide a minimum of twenty new businesses every year.

 Benefit Details 

Incubators that meet the requirements will receive a yearly incentive of Rs.50 lakh for a period of five years.

 Performance Assistance 

 Eligibility Criteria 

• Private incubation centers in higher education institutions can receive support for their activities.
• The SEB must approve the incubator's mentoring of a minimum of 20 startups annually.
• The startup that has been nurtured and developed must have secured funding in its second investment round, known as series B.

 Benefit Details 

The eligible Incubators will receive a special incentive of Rs. 10 lakhs from the State Government for each startup that they have successfully incubated.

The process for enrolling onto the Startup Jharkhand program will be explained in this article.

Go to the authorized webpage of Startup Jharkhand.

official website

 New User Registration 

 Step 3: The registration form is available and it must be completed with the required information, which is provided in the example below.

 Step 4: Once the registration process is complete, the applicant should click on the button labeled "Get Started." This will direct them to the page where they can log in.

 Provide Login Details 

 Application form for Startup 

 Step 6: When applying, make sure to use the required application form and include a preliminary report about your business plan.

 Step 7: After submitting the application, the applicant will receive a slip confirming receipt and indicating the next steps to be taken.

After submission, the application will undergo initial verification before being sent to the evaluation board. The SEB will have the ultimate authority to decide if the applicant is selected.