ENA State 2018-04-23 09:18:23 <p><strong>Patna, Apr 23 (KNN)</strong> The Bihar Industries Department has selected as many as 53 ventures that it will hand-hold under the start-up policy.</p> <p>The state government also launched an upgraded website through which the prospecting entrepreneurs can apply for the scheme.</p> <p>Chief Minister Nitish Kumar led Bihar Government had set up a trust with an initial corpus of Rs 500 crore to act as the nodal agency for implementation of the Bihar Start-up Policy 2017, which will be operational for five years.</p> <p>The State Industries Minister Jai Kumar Singh revealed that out of 4,635 applications received, 931 were shortlisted and 53 have been certified.</p> <p>The state government has roped in institutions to act as incubators for the start-ups.</p> <p>Some of the incubators are Bihar Industries Association, the Chandragupta Institute of Management, Patna, NIT-Patna, and NIFT.</p> <p>Singh said the department will also provide mentors for the start-ups to guide them and provide strategic support.</p> <p>The industries department has sanctioned Rs 50 crore to the start up as venture fund. Each start-up will get a seed grant up to Rs 10 lakh as interest-free loan for 10 years.</p> 19659 http://knnindia.co.in/news/newsdetails/state/bihar-industries-dept-short-lists-53-ventures-under-start-up-policy 2018-04-23 09:18:23 knnindia.co.in