Bihar government, SIDBI to collaborate on enhancing startup ecosystem


Patna: The Bihar Government and Small Industries Development Bank of India (SIDBI) have signed an MoU to promote Startup Ecosystem in the eastern state, officials said. The objective of this initiative is to create a conducive environment for startups and turn Bihar into a startup hub. SIDBI The release said.
“Bihar Startup Fund Trust (BSFT) and SIDBI signed an MoU to manage the Rs 50 crore Bihar Startup Scale-up Financing Fund (BSSFF),” it said.
BSFT is the nodal agency constituted by the Industries Department for the implementation of Bihar Startup Policy.
“Under the policy, the state government has set up BSFT with an initial corpus of Rs 500 crore. Out of this, BSSFT has been set up with an initial corpus of Rs 50 crore to provide scale-up funding assistance to startups,” the release said. Has been done.” Said.

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