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Jharkhand Startup Policy 2024-2030

Empowering Entrepreneurs for a Brighter Future

Jharkhand is dedicated to building a dynamic, world-class startup ecosystem that fosters innovation, entrepreneurship, and sustainable growth. The Jharkhand Startup Policy 2024-2030 aims to establish the state as India’s leading startup hub, supporting ventures across diverse sectors such as technology, biotechnology, agribusiness, renewable energy, fintech, and more. By providing essential infrastructure, capital, and mentorship, Jharkhand will attract both domestic and international entrepreneurs, driving long-term economic growth and job creation.

The policy seeks to launch 5,000 startups by 2030, promote inclusive entrepreneurship, and deliver comprehensive support throughout every phase of the startup journey—from ideation to commercialization.

Industry-Specific Engagements
Agriculture and Food

Vision

Jharkhand envisions becoming a global startup hub, where entrepreneurs are empowered to innovate, collaborate, and succeed. With strategic partnerships, world-class infrastructure, and a strong support system, the state aims to drive India’s transition into a knowledge-based economy.

Objectives

  • Foster Innovation: Cultivate an environment that stimulates the growth of innovative ideas and breakthrough technologies.
  • Support Startups Across Sectors: Offer sector-specific assistance for high-potential industries such as technology, healthcare, agriculture, clean energy, fintech, EdTech, and deep tech.
  • Facilitate Access to Capital: Ensure startups can secure early-stage funding through venture capital, angel investors, and other financial resources.
  • Promote Inclusivity: Foster participation from women, SC/ST entrepreneurs, individuals with disabilities, and social impact ventures to create a diverse entrepreneurial ecosystem.
  • Develop Infrastructure: Establish world-class incubators, accelerators, and innovation hubs throughout the state to support startups at every stage of their journey.
  • Enhance Skill Development: Provide entrepreneurs and their teams with the essential skills and expertise through mentorship, training, and upskilling programs.

Support Global Market Expansion: Assist startups in entering international markets by offering export support, access to global trade events, and expanding their global reach.

Startup Ecosystem Development

Creation of World-Class Startup Infrastructure

Jharkhand will create cutting-edge physical infrastructure to support startups, including dedicated incubation centers, accelerators, and co-working spaces.

  • Incubators and Accelerators: Establish industry-specific incubators in high-potential sectors such as fintech, biotech, agritech, and deep tech. These centers will offer startups mentorship, testing facilities, prototype development, and valuable networking opportunities.
  • Innovation Zones: Set up Innovation Zones in key cities like Ranchi, Varanasi, Nagpur, and Aurangabad to foster the growth of startup clusters, research institutions, and investment networks.
  • Virtual Incubators: Launch virtual incubation platforms that enable startups in rural and semi-urban areas to access mentorship, resources, and networking opportunities, bridging the gap for entrepreneurs beyond urban centers.

Academic and Industry Collaborations

  • Startup Development Centers in Universities: Set up Startup Development Cells within universities and colleges to inspire entrepreneurship among students and researchers. These centers will offer technical support, business guidance, and access to funding opportunities.
  • Collaborations with Industry: Jharkhand will partner with industry leaders through Public-Private Partnerships (PPP) to drive innovation and research and development. This will ensure startups have access to the latest technologies and valuable market insights.

Startup Capital Infrastructure Fund

To foster a strong startup ecosystem, Jharkhand will establish a Startup Capital Infrastructure Fund with an initial corpus of ₹500 crore. This fund will provide financial support for developing both hard and soft infrastructure, including incubators, innovation hubs, and testing facilities.

  • Seed Fund and Venture Capital Participation: The state will collaborate with SEBI-approved early-stage venture capital and seed fund investors, contributing up to 25% as a Limited Partner. This partnership will focus on funding high-growth startups.
  • Startup Seed Fund: A Startup Seed Fund of ₹200 crore will be created to offer early-stage funding to promising startups. This fund will also assist startups in the ideation phase by providing grants for prototype development and market testing.

Support for Startups at Every Stage

Idea and Prototype Stage Support

Startups in the idea or prototype development stage will receive comprehensive support to transform their concepts into reality.

  • Mentorship and Facilities Access: Startups will benefit from mentorship programs and gain access to testing labs, design studios, and tool rooms available at incubators and universities.
  • Sustenance Allowance: Innovators with certified projects from a Nodal Agency will receive a monthly allowance of ₹15,000 for up to 18 months, helping cover living expenses during the idea development phase.
  • Prototype Development Grants: Startups will be eligible for grants of up to ₹10 lakh to support the development of prototypes, product testing, and procurement of raw materials necessary for new product development.
asian-indian-business-people-corporate-culture (1)

Market Access and Commercialization

Once startups have commercialized their products, the Jharkhand government will offer support to help them scale and expand their market presence.

  • Marketing Assistance: Startups launching innovative products will receive up to ₹10 lakh for marketing, branding, and advertising efforts to enhance product visibility and expand market reach.
  • Exemption from State Taxes: Certified startups will enjoy a 3-year exemption from state taxes, including SGST and VAT, to support their growth during the early stages of commercialization.
  • Patent and Trademark Reimbursement: Startups will be eligible for 100% reimbursement of expenses incurred in filing and prosecuting patents and trademarks.

Funding and Financial Assistance

Assistance for Startup Funding

Jharkhand will work closely with banks, financial institutions, and angel investors to ensure startups have access to the capital they need.

  • Bank Lending: Banks will be encouraged to establish dedicated startup desks in select branches, offering streamlined access to loans and financial services.
  • Angel Investor Networks: Jharkhand will establish Angel Investor Networks and foster seed capital funding through collaborations with startup associations, industry groups, and venture capital firms.
Advocacy Committees

State-Specific Startup Funds

The government will promote the establishment of state-specific venture capital funds to support local startups. These funds will target sectors where Jharkhand has natural advantages, including agribusiness, manufacturing, clean energy, and fintech.

Incentives and Benefits for Startups in Jharkhand

The Jharkhand Startup Policy 2024-2030 presents a comprehensive and appealing range of incentives and benefits aimed at supporting startups throughout their growth journey. These incentives are designed to ease the financial burden on startups, stimulate innovation, boost global competitiveness, and cultivate a nurturing ecosystem that encourages entrepreneurship across various sectors. The focus is on offering startups access to capital, tax relief, subsidies, and market opportunities, positioning Jharkhand as the prime destination for both domestic and international entrepreneurs.

Here is a detailed overview of the Incentives and Benefits for Startups in Jharkhand:

To support the financial needs of startups, Jharkhand offers several financial incentives, from capital subsidies to tax exemptions, helping startups reduce their initial investment costs and improve cash flow during their critical growth phases.

Financial Incentives

IncentiveDetails
SGST ReimbursementStartups will receive 100% reimbursement of SGST paid on the sale of products and services for the first 5 years of operations. This ensures that startups can retain a higher portion of their revenue to reinvest in growth and expansion.
Capital Investment SubsidyStartups can avail up to 50% capital subsidy for investments made in setting up infrastructure, R&D centers, incubators, and innovation labs. This subsidy will be capped at ₹5 crores per startup to encourage innovation and long-term growth.
Stamp Duty and Registration Fee ExemptionStartups will be exempt from 100% stamp duty and registration fees for the purchase or lease of land, office space, or other immovable properties. This exemption is applicable for the first 5 years.
Electricity Duty ExemptionStartups will receive a 100% exemption on electricity duty for the first 5 years of operations, reducing the overall operational cost and promoting the development of energy-intensive startups like manufacturing and technology firms.
Interest Subsidy on LoansStartups will receive 50% reimbursement of the interest paid on loans taken for capital expenditure or working capital needs for a period of 5 years, with a maximum cap of ₹2 crores per startup. This subsidy helps reduce the financial burden of loan repayments.
Reimbursement of Technology License FeesStartups will receive up to 50% reimbursement of fees paid for the acquisition of technology licenses or patents to promote the adoption of advanced technologies and cutting-edge innovations.
Startup Seed FundA dedicated Startup Seed Fund of ₹200 crore will be available to provide early-stage funding and grants for startups working on prototypes, R&D, and product development, with a focus on high-potential startups in priority sectors like biotech, clean energy, and IT.
Export Promotion Grant25% subsidies on freight costs, logistics, and participation in international trade fairs for startups engaged in export-oriented activities, promoting international trade and market expansion for Jharkhand-based startups.
Sustenance AllowanceInnovators whose projects are in the idea stage or pre-commercialization phase and are certified by a Nodal Agency will receive a monthly sustenance allowance of ₹15,000 per month for up to 18 months, allowing entrepreneurs to focus on developing their product or service

Tax Incentives and Relief

To ease the tax burden on startups, Jharkhand offers a variety of tax exemptions and rebates designed to boost profitability and encourage reinvestment in business expansion. These benefits are especially crucial during the early stages of a startup’s lifecycle.

IncentiveDetails
Income Tax HolidayStartups will be eligible for a 3-year income tax holiday on profits during the first 5 years of operations, allowing them to focus on reinvestment and growth without the burden of corporate tax payments.
SGST Exemption for R&D ProductsStartups engaged in research and development (R&D) will be exempt from paying SGST on the sale of innovative products and services, particularly in sectors like healthcare, IT, and agritech.
Tax Rebates for Exporting StartupsExport-oriented startups will receive customs duty exemptions on the import of capital goods, machinery, and raw materials required for production. This rebate ensures that startups can expand globally without facing heavy import taxes.
Property Tax ConcessionStartups operating in dedicated startup hubs and innovation parks will benefit from 50% property tax rebates for the first 5 years, reducing the overhead costs associated with business space.

Grants and Subsidies

To encourage the development of high-growth sectors and foster innovation, Jharkhand provides grants and subsidies that help startups build and commercialize new products, invest in sustainable practices, and promote global expansion.

IncentiveDetails
Prototype Development GrantStartups in the early-stage or idea stage will be eligible for a grant of up to ₹10 lakh for the development of prototypes, including the purchase of raw materials, testing equipment, and technical development services.
Sustainability and Green Technology GrantsStartups developing solutions in renewable energy, waste management, and sustainable manufacturing will be eligible for up to 50% grants for green initiatives, capped at ₹25 lakhs per project. This supports the state’s commitment to green technology.
R&D and Innovation SupportA 40% subsidy on R&D expenditures for startups focusing on product innovation, process improvement, or new technology development. The subsidy is capped at ₹20 lakhs per project and encourages startups to invest in cutting-edge research.
Marketing and Branding AssistanceStartups launching new products will be eligible for marketing assistance of up to ₹10 lakh, covering costs related to advertising, branding, and public relations activities that help startups establish their presence in the market.
Patent and Trademark Reimbursement100% reimbursement for startups filing for patents, trademarks, and design registrations. This reimbursement helps reduce the cost of protecting intellectual property and encourages innovation.
Product Testing and Certification SubsidyStartups involved in export-oriented manufacturing and technology development will receive 75% subsidies on costs incurred for product testing, certifications, and compliance requirements in global markets, promoting international competitiveness.

Infrastructure and Facilities Support

To create a thriving startup ecosystem, Jharkhand is developing a network of startup parks, incubators, and innovation labs that offer world-class facilities, mentorship, and technical support at subsidized rates.

IncentiveDetails
Subsidized Incubation SpacesStartups can access incubation spaces and co-working facilities at subsidized rates in Ranchi, Varanasi, Nagpur, and Aurangabad, with priority access for women entrepreneurs, social impact startups, and startups in rural areas.
Dedicated Innovation ZonesInnovation Zones will be established in key cities to encourage collaboration between startups, research institutions, and industry experts. Startups will receive preferential access to these zones and associated services such as technical labs and workshops.
Startup ParksStartup Parks will be developed in strategic locations across Jharkhand, offering startups access to office spaces, laboratories, and testing facilities with long-term lease options and concessional rates for up to 10 years.
Free Access to University R&D LabsStartups will be given free access to R&D facilities and testing labs in government-run universities and research institutions, allowing them to utilize cutting-edge equipment for product testing and development.
Virtual Incubation SupportFor startups in rural and semi-urban areas, Jharkhand will offer virtual incubation services, providing access to mentors, investors, and online resources for startups that cannot physically access urban incubators.

Skill Development and Employment Subsidies

Jharkhand recognizes the importance of a skilled workforce for startup growth. To this end, it offers a variety of skill development programs, training subsidies, and employment incentives that encourage startups to create jobs and develop talent.

IncentiveDetails
Employee Training and Skill Development Support50% reimbursement of the costs associated with training programs, technical certifications, and vocational education for employees in startups, capped at ₹5 lakhs per startup. This support ensures startups have access to a skilled workforce.
Employment Generation SubsidyStartups creating new jobs will receive an employment generation subsidy of ₹20,000 per employee hired from local communities, with a cap of ₹10 lakhs per year per startup.
On-the-Job Training SupportStartups offering on-the-job training for their employees will be eligible for a subsidy of up to ₹1 lakh per year, promoting internal skills development.
Apprenticeship and Internship SupportStartups providing internship opportunities for students and local youth will receive an allowance of ₹1 lakh per annum, encouraging skill development and job creation.

Global Market Access and Internationalization

Jharkhand provides startups with the tools and resources to expand globally, ensuring they can access international markets, secure foreign investments, and establish a global presence.

IncentiveDetails
International Trade Support25% subsidy on costs incurred for participation in international trade fairs, exhibitions, and buyer-seller meets to promote startups’ products and services globally, with a cap of ₹10 lakhs per startup per year.
Global Accelerator ProgramStartups will have access to global accelerators in countries like USA, Singapore, UK, and Germany. Selected startups will receive travel grants, mentorship, and workspace access to help them expand internationally.
Export Promotion SupportStartups involved in exporting products and services will benefit from subsidies on export-related documentation, customs processing, and export logistics, ensuring smoother access to international markets.
Global Collaboration NetworkJharkhand will establish global collaboration networks to help startups build partnerships with international R&D institutions, universities, and innovation centers for product development and market entry strategies.

Governance and Implementation Framework

State-Level Startup Council

The Jharkhand Startup Policy will be overseen by a State-Level Startup Council, tasked with implementing the policy, monitoring progress, and assessing its impact. The council will include representatives from the government, academia, industry experts, and startup leaders.

Startup Development Cells

Startup Development Cells will be set up at universities, colleges, and District Industries Centers (DICs) to provide guidance and support to aspiring entrepreneurs. These cells will offer a comprehensive Ready Reckoner or Information Handbook on the startup ecosystem and policy benefits, available in both regional languages and English.

Conclusion:
Jharkhand Leading India’s Startup Revolution

The Jharkhand Startup Policy 2024-2030 is a forward-thinking initiative aimed at establishing Jharkhand as India’s premier startup hub. With a focus on providing world-class infrastructure, financial incentives, and strategic partnerships, the policy seeks to empower entrepreneurs, promote sustainable development, and drive economic growth throughout the state.

Prioritizing innovation, global market access, and inclusive growth, Jharkhand invites startups, investors, and entrepreneurs from across India and around the world to join its transformative journey. Together, let’s shape the future of entrepreneurship in Jharkhand!

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About Make in Jharkhand

Make in Jharkhand is a Public Benefit Corporation (PBC) committed to positioning Jharkhand as a dynamic force in global economic collaboration. With strategic partnerships spanning the USA, Europe, Australia, African Union, KSA, China, India, Qatar, Saudi Arabia, Türkiye, and the UAE, we focus on key sectors such as energy, technology, agriculture, and finance. Our mission is to adopt global best practices, drawing from successful economic models to foster inclusive and sustainable development. By aligning with forward-thinking strategies, Make in Jharkhand aims to accelerate economic diversification, empower communities, and promote responsible growth. Leveraging Jharkhand’s geographic strengths and rich resources, we seek to attract high-impact investments, fuel innovation, and elevate the state’s global economic standing — in line with the government’s vision for a connected, tech-driven future.

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