THE JHARKHAND STORY NETWORK
Ranchi, Feb 3: Chief Minister Hemant Soren is committed to promoting startups in Jharkhand. In line with this vision, the state cabinet approved the new Jharkhand Startup Policy 2023 on December 7, 2023
The government has now launched a digital platform for submitting new startup ideas, which will be available from February 4, 2025, via the portal http://abvil.jharkhand.gov.in. This platform will allow applicants to submit their innovative ideas.
Implementation of Jharkhand Startup Policy 2023
The new Jharkhand Startup Policy 2023 is now in effect, with the formation of ABVIL (Atal Bihari Vajpayee Innovation Lab) under Section 8 of the Companies Act, 2013.
This agency’s role is to select startups in the state, foster the startup ecosystem, and implement fiscal and non-fiscal incentives as outlined in the policy, under the Common Incentive Disbursement Guidelines.
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Digital Platform for Idea Submission
A dedicated digital platform has been created for the online submission of startup ideas. Applicants can submit their ideas via http://abvil.jharkhand.gov.in, with the state evaluation board scheduled to begin the startup selection process on February 4, 2025.
Target to Develop 1,000 Startups by 2028
On December 7, 2023, Chief Minister Hemant Soren replaced the previous Jharkhand Startup Policy 2016 with the new 2023 policy.
The cabinet’s approval was followed by the notification of the policy by the Department of Information Technology & E-Governance. The previous policy has been annulled, and the new policy will be in force for the next five years.
By 2028, the government aims to develop at least 1,000 startups in the state. The goal is to create a favourable ecosystem that places Jharkhand among the top 10 states in the country.
The new policy is expected to accelerate innovation, attract investments, and position Jharkhand as a leading hub for startups in the region.
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