Patna: The Bihar Industries Department on Monday organised a Startup Bihar Stakeholder Dialogue to strengthen the state’s startup ecosystem and develop support systems aligned with the needs of emerging businesses.
Representatives of banks, Startup Cells, incubation centres, investors and startups participated in the programme, which focused on funding, access to capital markets, SME listing, investor readiness, technology, incubation and banking support.
Government plans faster startup support
Director, MSME, Aman Sameer said the government was providing institutional support and guidance to startups and MSMEs from the early stages through expansion.
“Our objective is to enable more and more young people to convert their ideas into successful startups and create new opportunities for employment and economic activity in the state,” he said.
Director of Industries Mukul Kumar Gupta said the department was working to build a stronger startup ecosystem by providing financial, technological, institutional and market-related support.
He said the evaluation process was being made AI-based, which is expected to reduce human intervention and save around 15-20 days.
“Our aim is to ensure that startups receive fast, transparent and effective support,” Gupta said.
Experts discuss capital markets and incubation
During the programme, Gagan Kumar Singh, deputy manager, BSE, Patna Region; Dr Rana Singh, director, CIMP; Sanjay Kumar, director, STPI; Joseph Paul, general manager, IC IITP; and Vijay Prakash, chairman-cum-CEO, AIC-Bihar Vidyapeeth Foundation, shared their views on capital markets, incubation, technology and startup growth.
The Startup Bihar App was also presented and discussed during the event. Startups were invited to provide feedback and suggestions on the app and other Startup Bihar initiatives so that services could be improved according to their requirements.
Five startups felicitated
Five startups were recognised during the programme for achievements in different areas.
Road Express Technologies Pvt Ltd and Ved Prabha Aerospace Pvt Ltd were felicitated for recording outstanding and consistent revenue growth for three consecutive years.
RCX Lite Pvt Ltd was recognised for securing investment after appearing on Shark Tank India, while Gaudrika Digital Labour Chowk Pvt Ltd was felicitated after securing investment following its appearance on Bharat Ke Superfounders.
Agrix Agrotech Pvt Ltd was recognised for securing Rs 9 crore in funding from venture capital funds and other investors.
The programme concluded with an interactive session involving startups, banks, incubation centres, Startup Cells and investors. Participants discussed the challenges faced by startups, their requirements and suggestions for improving the state’s startup support ecosystem.
