MANISH GUPTA
Ranchi, July 7: The new Jharkhand Startup Policy, being finalised by the Jharkhand Information Technology Department, has proposed to raise the monthly stipend for startup entrepreneurs from Rs 8,500 to Rs 15,000.
“In the proposed policy, we have raised the monthly stipend to Rs 15,000 to support the startup entrepreneurs in their first year as they transform their idea into a product. A maximum of three partners can be supported in one startup,” an IT official said.
Jharkhand Startup Policy 2021 is being readied to support the growth of startups in the state. It will be effective from 19 September 2021, the day when the previous startup policy of 2016 ended after serving its term of five years.
“The new policy has a special focus on promoting entrepreneurship among the people in rural and semi urban areas, tribals, handicap, women and transgender,” he said.
For drafting the new policy, the IT department has taken inspiration from similar policies in various states, particularly Kerala, Karnataka, Chhattisgarh, Odisha and Tamil Nadu.
“There will be an additional stipend of Rs 2,000 per month for entrepreneurs who are either SC/ ST, women, handicap or transgender. Further, the prototype or the seed fund is up to Rs 10 lakh as per the need of the startup. And, for scaling up when the product is ready, another sum up to Rs 10 lakh can be provided as marketing assistance fund.
“However, to avail all fiscal and non-fiscal incentives under the policy a business has to be recognised as a startup by the Jharkhand government. Once recognised, a startup can apply for both stipend and seed funding. These, too, are checked and approved by two committees under the state IT department namely Project Monitoring Unit (PMU) and a Screening Committee headed by Jharkhand IT Secretary,” the officer said.
The mission of the new policy is to develop the entrepreneurship ecosystem to facilitate the growth and scaling up of at least 1,000 direct startups, and support 1,500 startups virtually in the coming next five years, he added.
As for the announcement of the new policy, Jharkhand IT Secretary Kripa Nand Jha recently said, “The new Jharkhand Startup Policy is almost ready for launch. We have the approval of the Chief Minister, who is also the IT Minister. Some suggestions are being worked upon. It should be announced within a month.”
