JHARKHAND - Startup India · 2020. 9. 11. · JHARKHAND ASPIRING LEADER 5 OVERVIEW OF STATE STARTUP ECOSYSTEM The state of Jharkhand has enormous potential for industrialisation

JHARKHANDASPIRING LEADER

STATES’ STARTUP RANKING 2019

JHARKHAND | ASPIRING LEADER2

Table of

Contents

1. Overview of State Startup Ecosystem ...................05

2. Snapshot of State Performance ..............................07

3. Pillar Wise Assessment ...............................................08

3.1. Institutional Support ..............................................................08

3.2. Simplifying Regulations .....................................................11

3.3. Easing Public Procurement ............................................13

3.4. Incubation Support ................................................................15

3.5. Seed Funding Support ........................................................17

3.6. Venture Funding Support ................................................19

3.7. Awareness and Outreach ...............................................20


5JHARKHAND | ASPIRING LEADER

OVERVIEW OF STATE STARTUP ECOSYSTEM

The state of Jharkhand has enormous potential for industrialisation. With 40% of the nation’s mineral resource, the state offers a promising launchpad for startups. The state has attracted investments in the primary sector including mining and metal extraction, engineering, iron, steel and chemicals. The major growth drivers of the engineering industry are availability of raw material, power, water and industrial labour. Further, the state offers favorable avenues for horticulture and natural fibres. Given the set of sectoral advantages, the Government of Jharkhand aims to create entrepreneurship opportunities for every strata of society and aims to become one of the leading destinations for startups by 2021. In order to ignite the spirit of entrepreneurship and innovation for people in the state and to convert ideas into potential business opportunities, the state government outlined a Startup Policy in 2016. The mission of the state is to create an enabling startup ecosystem and facilitate the growth and scaling up of at least 1000 direct startups and support 1500 startups by 2021.Jharkhand is one of the few states in the country which has connected each of the distinct pillars of a startup ecosystem through its policy. These include infrastructure, funding, human resource development, incentives and governance. The state has startup incubators, venture funds and an Entrepreneurship Development Fund which have contributed to the strong growth of the startup ecosystem.

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Create 1,00,000 sq.ft. of dedicated incubation space offering end-to-end support

KEY OBJECTIVES OF THE STATE’S STARTUP POLICY ARE TO:

Create a Fund of Funds (FoF) through public private

partnership (PPP) route

Facilitate the development of at least 100 innovative

technology-based startups that have a social impact

specific to the needs of the state

Create a robust and synergetic platform for the academia and

industry to supplement each other’s efforts

Promote gender equality, environment sustainability and improve social factors

amongst others

Promote entrepreneurship in educational institutions (primary, secondary and

higher)


Partnerships: The state has partnered with Internet & Mobile Association of India (IAMAI), Zoho Corporation Pvt. Ltd, Venture Catalyst, Varhad Capital Pvt Ltd, ‘StartUpWithRaviranjan’, and ‘TotalStart Entrepreneurship Ecosystem Developers’

State Incentives to startups: 100% reimbursement of the State Goods and Service Tax (SGST), patent filing cost, registration fee/stamp duty/transfer duty, a three-year moratorium on payment of all municipal duties, 50% reimbursement on lease rentals, 30% reimbursement on amount paid to the internet service provider, provision of land in IT Parks/SEZ, local preference in tender i.e exemption from criteria such as prior experience, turnover and submission of Earnest Money Deposit (EMD). All existing government/proposed IT/Industrial parks will have 10% of the space earmarked for startups. Special incentives to SC/ST/women/differently abled in the form of additional 5% reimbursement on lease rentals, internet bandwidth and electricity bills.

Financial Support to startups: One-on-one support to startups for a broad range of areas, services and resources as enumerated below:

− A selected group/individual would be provided with a stipend of INR 8500/- per month, free of cost mentoring, access to lab and other facilities for up to 12 months

− The selected idea/concept would be eligible for financial support of upto INR 10 lakh for the development of a prototype of the product/solution

− A one-time marketing grant of upto INR 10 lakh would be provided to the startups for successful launch and marketing of the product/solution

The state has an online startup portal (https://abvil.jharkhand.gov.in/index.php). It includes features such as:• Startup registration• Application tracking• Student’s Club• Mentor Registration• Relevant guidelines and notifications• Upcoming & past events

Infrastructure: Hybrid institution model would be utilised to establish central incubation labs. These labs would be well equipped with facilities to provide end to end solutions for supporting other incubator centers for private, institutional and government-aided entrepreneurship activities

Jharkhand Entrepreneurship Development Fund: The state would set up a dedicated corpus fund of INR 50 crore for promoting entrepreneurship in the state and developing infrastructure

Human capital development: The policy encourages upgradation in syllabus, training and sabbatical for faculty, provision of gap semester, interest reimbursement of student loan and mandatory apprenticeship for students

Jharkhand Venture Capital Fund: The state would create a fund of INR 250 crore in a phased manner over the next five years, starting with INR 50 crore in the first year leading to the creation of Jharkhand Venture Capital Fund

SOME OF THE KEY HIGHLIGHTS OF THE STARTUP ECOSYSTEM IN JHARKHAND:

https://abvil.jharkhand.gov.in/index.php

https://abvil.jharkhand.gov.in/index.php


SNAPSHOT OF STATE PERFORMANCE 02

Relative Performance of the State

Performance of the Best State in the pillar

Venture Funding Support

Seed Funding Support

Easing Public Procurement

Simplifying Regulations

Institutional Support

Awareness and Outreach

Incubation Support

The following representation details the status of Jharkhand’s implementation on each of the 7 pillars of assessment. Data presented below is the percentile score.

Jharkhand has been evaluated on 7 distinct pillars which largely contribute to the growth of the startup ecosystem in Jharkhand. The representation as expressed above depicts the relative performance of Jharkhand in each of the seven pillars in comparison to the performance of the best state in that pillar.

Jharkhand has shown progress in ‘Venture Funding Support.’ Although significant efforts have been made to enhance the startup ecosystem, the initiatives undertaken towards ‘Simplifying Regulations’ require improvements since results have been negligible in this pillar.

Detailed analyses of this snapshot can be viewed in the subsequent section, with extensive insight into the initiatives taken by Jharkhand to uplift its startup ecosystem.

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PILLAR-WISE ASSESSMENT

The state has a well-structured and a sector agnostic startup policy. It has a sound online implementation system for registration, availing of incentives and for networking opportunities & events. All the policies are publicly available on the state’s startup portal and have clearly defined benefits and incentives (both fiscal and non-fiscal) to be given to startups, incubators, educational institutes etc.

KEY FACTS

1. INSTITUTIONAL SUPPORTInstitutional support envisages provisions and execution of the state’s startup policy including information on the nodal team within the state, online implementation system, registration of mentors and their listing on the state startup portal. The states are evaluated based on the laid provisions along with parameters of availing benefits through state intellectual property rights portal, establishing partnerships with institutions, providing special incentives for women led startups and entrepreneurship.

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KEY STRENGTHS

STRUCTURED STARTUP POLICY

• The policy offers incentives to enable, empower and engage startups at each step of the entrepreneurial journey and focuses on effective short-term measures to boost entrepreneurship, revitalise economy and investment in the state in the next five years. It also lays down a strategic long-term roadmap for bringing in positive change in the mind-set of the people and in the attitude of the overall society towards becoming entrepreneurship oriented.

• The policy is sector agnostic as the incentives/benefits offered to startups are not restricted to specific sectors.

• The policy clearly states the definition of a startup. As per the same, the definition of a startup is an entity incorporated or registered in Jharkhand:

− Not prior to seven years, however for biotechnology startups not prior to ten years,

− With annual turnover not exceeding INR 25 crore in any preceding financial year, and

− Working towards innovation, development or improvement of products, processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.

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COMPREHENSIVE ONLINE IMPLEMENTATION SYSTEM

• The state has a highly interactive startup portal with dedicated features such as registration, application tracking, issuance of registration certificate, query resolution, call centre, list of incubators & mentors and a dashboard detailing startup activity.


DEVELOPED MENTOR NETWORK

• The mentors in the state for startups include prominent professors from Birla Institute of technology Ranchi, NIT Jamshedpur, Indian Institute of Management (IIM), Ranchi, CEO & founders in the state and other industry stalwarts from the private sector. These mentors are registered and listed on the portal.

STRENGTHENED INTELLECTUAL PROPERTY (IP) SUPPORT

• The state has made provisions to provide strong IP support to the startup ecosystem wherein the state reimburses 100% of the patent filing cost to the startups registered and headquartered in Jharkhand. The reimbursement is provided in three stages, i.e., during filing, prosecution and award.

ESTABLISHING PARTNERSHIPS

• The state has established partnerships with institutions and business enterprises for augmenting the startup ecosystem in the state. Internet & Mobile Association of India (IAMAI) and Zoho Corporation Pvt. Ltd. as technology partners, Venture Catalyst as investment partners, Varhad Capital Pvt. Ltd. and StartUpWithRaviranjan as knowledge partners and TotalStart Entrepreneurship Ecosystem Developers as ecosystem partners with the state to foster growth of startups. The details of the state partners are available on the portal.

FOCUS ON WOMEN ENTREPRENEURSHIP

• The state has special incentives for women entrepreneurs such as subsistence allowance of INR 10,500 per month. Apart from the incentives for startups, provisions are made for an additional 5% reimbursement on lease rentals, internet bills and electricity bills for women in the startup ecosystem.

• The state has taken initiatives to encourage women participation from sectors such as education, IT, art, food & nutrition, environment, water, sanitation, and healthcare. The participation of women from variegated sectors gives an edge to the startup business community in the state.

SUPPORT FROM VARIOUS DEPARTMENTS

• The initiatives of the state are supported by other state departments such as the Department of Agriculture, Department of Industries and Department of Higher Technical Education. The state has organised Global Agriculture & Food Summit 2018 with Department of Agriculture wherein the summit highlighted special incentives for Agri Startups and Agripreneur Ecosystem.

• Directorate of Industries, Government of Jharkhand has set up a Venture Capital fund with GVFL Limited, Ahmedabad which links the initiatives of the state with support of inter departments towards an increased startup growth rate in the state.

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MEDIUM TERM ACTIVITIES (4-6 MONTHS)The activities suggested in this category are important and will take relatively more time for implementation. Through dedicated efforts, results can be achieved within four to six months. Activities suggested under this category are as follows:

Establishment of a dedicated nodal department for startups• The Department of IT & e-Gov is listed as the de facto nodal department and Secretary, Department of IT & e-Gov as the de facto nodal

officer in the state. However, a dedicated nodal department and a nodal officer are critical for fostering state level innovation-driven entrepreneurial practices. Thus, setting up a dynamic mechanism would help resolve grievances, prepare guidelines, support and handhold startups.

Improve mentor connect mechanism • The state could deploy an extensive mechanism through the portal to directly connect the startups with the mentors. The contact

details and profile of the mentors could be updated on the portal for improved collaboration. Alternately, some built-in communication platform could be offered by the state such as a virtual chat window on the portal with a domain specific email for mentors to provide personalised support to startups in the state.

Support from other departments• The other departments in the state could design policies, orders and schemes to additionally support and elevate the startup culture

in the state. The other departments could enlist sector specific incentives and possible synergies for startups from existing policies of their respective areas of engagement.

• The other departments of the state could promptly notify the important and recurring events from their departments on the portal so as to encourage maximum participation and leverage collaborated efforts towards the entire ecosystem.

WAY FORWARD

The state needs to give importance to this pillar in order to further strengthen the startup ecosystem. The state could prioritise actions required in three categories: short, medium and long term. Action required in each of these categories are summarised below:-


2. SIMPLIFYING REGULATIONSSimplification of regulations considers mandatory requisites for state level approvals and clearances for registering and operating a business or startup online. In order to make compliance for startups friendly and flexible, simplifications are required in the regulatory regime. It encapsulates regulatory issues faced by registered startups which have been identified through an interactive online mechanism subject to approving action by regulatory agencies. The states are evaluated based on the support provided to startups by introducing a list of rules, regulations or Acts in the state, including amendments in the Acts and regulations with requisite details to create a conducive environment for the state’s startups.

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The state has a strong mechanism in place for identifying regulatory challenges faced by startups in various sectors and has subsequently worked towards simplifying the policies and regulations to promote the growth of startups. The state has proactively worked towards identifying regulatory hurdles faced by startups especially in the disruptive sectors. The state has also institutionalised an online mechanism to connect with disruptive startups and to understand their specific regulatory issues.

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IDENTIFICATION OF REGULATORY ISSUES

• The state has set up an online mechanism to connect with startups which shares understanding about regulatory issues faced by them and enables experiential outcomes to startups to effectively adhere with the state regulations.

• A separate tab titled ’Regulatory issues’ is made available on the state’s portal for the startups to have thorough understanding of the upcoming regulatory barriers and the process to follow the regulations with ease and cognizance.

SIMPLIFIED BUSINESS COMPLIANCE AND MECHANISM FOR REGULATORY ISSUES

• The state has simplified the business mechanism for startups with a single window portal for showcasing an online interactive mechanism for all state approvals and clearances. This is an essential requirement for registering and operating startups across various sectors.

• The URL of Single Window Portal https://advantage.jharkhand.gov.in/SingleWindow/ is linked to the State Startup Portal.

• Some of the options offered by single window portal are:

Approvals

Incentives

Central inspections

Land bank

Investor tracking

Policy feedback

https://advantage.jharkhand.gov.in/SingleWindow/

https://advantage.jharkhand.gov.in/SingleWindow/


WAY FORWARD


SHORT TERM ACTIVITIES (1-3 MONTHS):The activities suggested in this category are important and will take relatively less time for implementation. Through dedicated efforts, results can be achieved within one to three months. Activities suggested under this category are:

Measures to address regulatory issues• The state could issue government orders/notifications for making the regulatory mechanism comprehensive within the state.

• The state may also invite startups to share the identified regulatory issues faced by them with the government and in turn endeavors could be made to create Frequently Asked Questions (FAQs) on the portal providing resolution to such issues in a phased manner.

• The state could also increase the frequency of notifications for startups in order to create awareness about the existing mechanism and enhance the strength of the overall startup ecosystem.

Timely amendments in policy, introduction of new startup conducive rules and regulations• Since the startups are the harbingers of change in any business ecosystem, it is the responsibility of the government to have an

adaptive approach towards an evolving business environment. This can be achieved by timely amendments in policy, introduction of new startup conducive rules and regulations for fast changing sectors such as technology.

• In consonance to the number of regulations, rules and appropriate amendments, the state could list such amendments on a timely basis with the details of the essential execution of the same for startups on the portal to help them understand the statutory requisites applicable to them.


3. EASING PUBLIC PROCUREMENTEase in public procurement simplifies criteria to ensure participation of startups in government tenders. The states are evaluated based on the support provided to startups in resolving issues related to state public procurement as norms of Earnest Money Deposit (EMD), prior experience, and prior turnover which prove to be barriers for participating startups. Easing of such norms enable startups and entrepreneurs to avail exemptions and share an equal platform with established organisations.

The state has made the requisite relaxations for prior experience, prior turnover and submission of EMDs for startups in order to encourage them to participate in public procurement with ease. The state has also established a strong mechanism to provide preference in public procurement and exemptions from restricted eligibility to startups in order to foster pilot opportunities.

KEY FACTS

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‘PRIOR TURNOVER’ CRITERIA AND ‘PRIOR EXPERIENCE’ CRITERIA

• The state has provided 100% exemption to startups from the criteria of ‘prior experience’ and ‘prior turnover’ for the order value up to INR 5 Crore. This provision offers entrepreneurs and students to progressively create foundation of startup businesses in the state.

FULL EXEMPTION ON EMD CRITERIA FOR PARTICIPATION OF STARTUPS

• Capital availability is a constraint and submission of EMD is an even bigger hurdle for startups specifically those in their pilot phase. The state has provided a 100% exemption, applicable as per the policy, to allow participation of startups across all public tenders. The end objective of floating a public tender is to identify an organisation that can provide best solution at a low cost; thus, the startups in the state are able to fulfill the objective as they are allowed to participate in the state tenders with no deterrent of ‘submission of EMD’ criteria.

PREFERENCE IN PUBLIC PROCUREMENT

• The state gives procurement related preferences to all registered startups in the state. Also, the preference is provided in price or in value of procured goods or services. Apart from relaxation in ‘turnover’ and ‘experience’, the state offers at least 20% of procurement for all quantifiable goods and services by the state and local Public Sector Undertakings (PSUs). The state has also appointed a dedicated officer to resolve grievances faced by startups in public procurement process.


WAY FORWARD



Government order/ notification for relaxation for ‘prior experience’, ‘prior turnover’ and preference in public procurement

The state could provide relaxation of norms through official government orders/ notifications. Consequently, with well communicated benefits for startups, various state departments would also benefit from innovations in products and services rendered by the startups. provide relaxation of norms through official government orders/ notifications. Consequently, with well communicated benefits for startups, various state departments would also benefit from innovations in products and services rendered by the startups.

Improvement in the number of purchase orders/ work orders

The state has awarded work orders to a few unique startups for public procurement across the state/ Union Territory. The purchase orders must be diversified among more businesses, since startups from various sectors such as information technology, textiles, ecommerce, agritech, foodtech etc. exist in the state.

Time-bound grievance redressal mechanism

In order to make the process effective, the state may take some steps to make the process time bound. The turn-around time and escalation stage can be displayed on the online account of the startup for real time status.


4. INCUBATION SUPPORTIncubation support is an integral element of the startup ecosystem that supports entrepreneurs to grow their businesses and assists new startups to succeed. In order to promote startups, the state governments collaborate with organisations, corporates or industry associates to establish incubators, to support startups in the form of capital expenditure or operational expenditure. The evaluation is based on setting up of incubators supported by the state governments to release funds to the startups, thereby creating a unique mechanism to provide subsidised incubation and operate acceleration programmes in partnership with the industry.

The state has a well framed policy detailing the infrastructural support for incubation. The state has framed a Hub and Spoke (HAS) model for developing the startup ecosystem and incubation centers. The state shall offer incentives for the institutions of higher learning, private sector and academia. The incubators established with the help of such stakeholders would then act as the spoke or peripheral incubation centers. The state startup policy details incentives and provisions for the following:• Central incubation lab (CIL)- for government aided entrepreneurial activities • Incubation centers in higher educational institutions• Private Incubators/Accelerators• Industry-Academia Incubation center • Virtual Incubator Platform The government has six incubators in cities such as Ranchi, Sindri, Deoghar and Dhanbad. The incubators have been successful in supporting and guiding young students and entrepreneurs to pursue their startup ventures.

KEY FACTS

STRONG SUPPORT FOR SETTING UP OF NEW INCUBATORS

The incubators in the state have collectively supported more than 40 startups. The startups belong to sectors such as information technology, food processing, renewable energy, agritech, arts & craft, e-commerce, automobile, environment and waste management.

EFFECTIVE ACCELERATION PROGRAMMES

• The state conducted a workshop on business communication and training for entrepreneurs. To deal with the dynamic entrepreneurial ecosystem in the state, Atal Bihari Vajpayee Innovation Lab (ABVIL) has partnered with the US consulate Kolkata for professional development courses.

• During the training, the participants learnt about topics such as networking, negotiating, business cycle, business presentations, elevator pitches, and formal pitches. The programmes focused on preparing the participants to deliver an organised and well-polished business pitch in front of a live audience. In the project, the specialist were made to work with groups of 20 entrepreneurs for one week.KE

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The various incubators in the state are:

• Atal Bihari Vajpayee Innovation Lab, Ranchi

• Bihar Institute of Technology, Sindri

• Birla Institute of Technology Extension Center, Deoghar

• Central University of Jharkhand, Ranchi

• Indian Institute of Technology (ISM) Dhanbad

• Software Technology Parks of India, Ranchi


WAY FORWARD



Conducting more acceleration programmes

The state could consider conducting more programmes in association with industry to promote innovation and ensure sustainability. Additionally, the state could encourage enrollment of startups in acceleration programmes to provide benefits and incentives to startups in the form of networking with investors and mentors, leverage years of cumulated experience, skill development and provide direction and knowledge support.

Setting-up new incubators

The state may consider enabling swift action for setting up new incubators or upgrade existing incubators in the state. The state may also support incubators by providing financial grant for capital expenditure for covering the initial cost. Additionally, the state may explore alternative models of incubation support such as provision of rent-free space (on lease) for setting up of incubators.

Increasing the number of seats

The state has submitted details of 129 valid seats. All the seats allocated to startups could be in operational incubators. However, going forward, the state may explore the opportunity and back it up by certificate from incubators specifying the number of seats allocated to startups.

Subsidised incubation

The state could actively offer subsidised incubation support to the startups. Subsidised incubation entails provision of subsidy or rebate for startups. It could be noted that this excludes support provided as capital or operational expenditure. The state could explore the opportunity to engage private incubators and support them by reimbursing the cost of incubation. Startups could also be encouraged to provide an official document showcasing subsidised incubation extended to startups.


The state has prioritised provision of seed funding to startups in the region. The startup online portal provides a mechanism to avail seed funding benefits, additional funding guidelines and resources for application procedure on the portal. The portal also includes tracking of applications and communication of approvals for startups to get real-time updates. The State Evaluation Board evaluates and selects an innovative concept/idea based on pre-defined criteria. • The selected individual or the group shall be provided with a stipend of INR 8,500/- per group member (maximum 3)

per month for up to 12 months as a subsistence allowance. There is additional subsistence allowance for females and differently abled (divyang) of INR 2000 per month.

• An Individual/group has to work on idea research, development and concept validation, prototype development and business plan development. The selected idea will be eligible for financial support of upto INR 10 lakhs for the development of prototype of their product/solution.

KEY FACTS

5. SEED FUNDING SUPPORTSeed funding can be in the form of a direct grant, subsidised loan, product development and marketing financial assistance, monthly sustenance allowance or even equity seed funding. With seed funding, the evaluation is based on the states’ endeavor to help a business grow and generate its own capital by establishing a guideline document. The states need to ensure that startups scale with the right velocity in order to achieve leading positions, through state investment and startup’s entrepreneurial knowledge.

SPECIALISED SCHEMES OFFERING SEED FUNDING SUPPORT TO STARTUPS

• The state has comprehensively described the benefits in its Startup Policy and Common Incentive Disbursement Guideline mentioning eligibility criteria, extent of seed funding and application procedure.

• The state considers seed funding to be essential for a startup which further encourages aspiring entrepreneurs to raise investments from Jharkhand Entrepreneurship Development fund and Jharkhand Venture Capital Fund. Such funding would assist startups to seek funding from commercial banks or financial institutions.

INTERACTIVE ONLINE SYSTEM FOR SEED FUNDING

• The state has an online application system for startups to avail seed funding. In addition, the state has an online tracking system along with an approval system for seed funding; thereby, simplifying the disbursement process.

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WAY FORWARD



Publish information of funding beneficiaries

The state may consider sharing beneficiary data, including names of beneficiaries along with the support provided to startups in the state. Such data would encourage other startups from different sectors to connect to the ecosystem and also other stakeholders in the network to consider making necessary contributions to the development of the startup ecosystem in the state.


6. VENTURE FUNDING SUPPORTVenture capital funding support is provided to the startups from state supported funds. The states are evaluated based on the establishment of the Fund of Funds (FoF) with approved operating guidelines and signing a memorandum of understanding (MoU) with the fund manager along with a concrete budget allocation. Venture funding provides strong growth potential to startups wherein the fund is used for the all-round development of startups and to levitate the startup ecosystem of the states.

• The state intends to setup various venture capital funds in the state for promoting startups with innovative concepts in sectors such as Micro, Small and Medium Enterprises (MSME), Information Technology Enabled Service (ITeS), Biotechnology, Energy and Clean Technologies etc. The funds shall enable startups to expand, create job opportunities, and contribute to the growth of the state.

• The startup policy of the state highlights that the state would pool a fund of INR 250 crores in phases over the next five years. It would start with INR 50 crores in the first year leading to the creation of Jharkhand Venture Capital Fund. A separate corpus of INR 50 Crores would be used for promoting entrepreneurship in the state and developing infrastructure under Jharkhand Entrepreneurship Development Fund.

• The state has signed a Memorandum of Understanding (MoU) with Gujarat Venture Finance Limited for creation and asset management of Jharkhand Startup and MSME Fund in accordance with Jharkhand Startup Policy.

KEY FACTS

WAY FORWARD



Extend support to venture fund and increase the number of beneficiary startups• As the state has signed a MoU with Gujarat Venture Capital fund for management of Jharkhand Startup and MSME fund, there is a need

for the state to maintain a list of startups in the state availing in-receipt of venture funding or Funds of Funds from the state.

• For full transparency, the list may also cite the details about the amount of funding received by the startups and the date of disbursement.

• Events such as angel investment workshops and regular updating of information on the startup portal of the state would help spread awareness and reach amongst all startups of the state with the information of available resources and potential benefits of the same to foster growth of startups in the state.


7. AWARENESS AND OUTREACHIt is the endeavor of state governments to raise awareness about the Indian startup ecosystem and increase its outreach throughout the state. The states are evaluated based on awareness of startups created through workshops, national and international events including bootcamps and hackathons/ grand challenges. In order to promote startups, the state encourages participatory and inclusive processes for linking startups with angel investors and high net worth individuals. Maximum participation is encouraged for exchange of valuable knowledge amongst startups, and pitching sessions for angel investments with widespread propagation.

The state has been proactive in its initiatives and measures to help startups grow and scale-up. Cities such as Ranchi, Ramgarh, Jamshedpur, Dhanbad, Deoghar, Giridih, Daltonganj and Hazaribagh have many universities providing awareness programmes to students in order to develop a sense of starting up. The Government of Jharkhand organised the following events to boost its entrepreneurial ecosystem–

KEY FACTS

ORGANISING BOOTCAMPS

• The state has conducted a total of 8 bootcamps across the state each with more than 250 participants. The bootcamps were a part of the Startup Yatra campaign under Startup India. Startup India Yatra initiative aims to scout grass root level entrepreneurs in the tier II/ III towns of India. The yatra provides a platform for budding entrepreneurs to realise their startup dream by getting incubated at excellent facilities and taking their idea to the next level. The aim is to connect with Startups from every district and town of India.

• The objective of the yatra was to target aspiring entrepreneurs and startups at the grass root level with the goal of achieving the following:

• Every idea was given 2 minutes to pitch to the panel of

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Startup awareness: Spreading awareness about startup ecosystem and providing mentorship to the budding entrepreneurs

Incubation offers: Scouting the best talent within tier 2/3 districts of the state and providing them incubation offers from state incubators

Other incentives: Various other incentives from the resource partners of Startup India such as legal consultation, advisory services, mentorship etc.

judges and the results were declared on the same day of the event. The event provided startups with not just financial support and workplace facility but also a good mentorship platform so that they could expand their business.

• Students across 8 districts in Jharkhand won cash prizes and incubation facilities across categories such as Agriculture, Prize won in Social, Technology and Womanpreneur.

Bootcamps (8)

Hackathons (1)

Angel Investment Workshops (1)

National/International events (1)


HACKATHONS

• Jharkhand startup hackathon was organised at Ranchi, with 409 teams participating in the event out of which 50 teams were selected. The winning business pitches across 6 teams received cash prizes worth INR 1 Lakh each. Also 14 startups were given prototype development grant & 5 startups were given subsistence allowance by Honourable CM of Jharkhand. The event was successfully able to attract more than 300 entrepreneurs, school/college students and teachers and proved to be a platform for startups and mentors from other states to participate and share their views.

ANGEL INVESTMENT WORKSHOPS

• The state organised a masterclass for angel investment. The event was successful in communicatingangel investing scenarios to the startups in addition to apprising them about the dos and don’ts of a successfulstartup

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NATIONAL AND INTERNATIONAL EVENTS

• DoIT & e-Gov, Government of Jharkhand sponsored “TiE Delhi - Startup Expo” organised on 28th Sept 2019. A team of 21 selected and promising startups attended the Startup Expo. A Special State Pavilion was provided to showcase and provide exhibition to startups.


WAY FORWARD



Improvement in organisation of hackathons and grand challenges

More hackathons could be organised to identify innovative technological solutions and for supporting entrepreneurs in building these solutions as viable product or service offerings

Improvement in organisation of angel investment workshops

The state could organise more workshops and networking events in the state. The state is encouraged to specify the operational guidelines along with fiscal/non-fiscal incentives to be provided to angel investors in startups. This may ensure maximum participation from angel investors in the workshops, which would benefit both the startup community and angel networks.

Improvement in organisation of national and international events

The state could promote participation of startups in more national/ international events and support the participants with grants, reimbursements for travel, accommodation, registration or sponsorship may also to organisers. The national/international events could help facilitate knowledge exchange, seminar or workshops, or pitching sessions and help in fostering innovation and developing skills among the entrepreneurs.


CONTACT US

www.startupindia.gov.in

[email protected]

1800-115-565

Documents

JHARKHAND - Startup India · 2020. 9. 11. · JHARKHAND ASPIRING LEADER 5 OVERVIEW OF STATE STARTUP ECOSYSTEM The state of Jharkhand has enormous potential for industrialisation