MARCH 20204siliconindiasiliconindiaJharkhand has witnessed a remarkable transformation over the last few years. With a growing economy, improving income dynamics, rising awareness and a youth-heavy consumer base, the state is well on its way to becoming one of the most prospective markets. Increased economic activities and infrastructure development too have resulted in extensive urbanization, as a result of which urban and semi-urban areas are expanding. Also, cities like Dhanbad, Ranchi and Jamshedpur are fast emerging as a hub of new businesses.With favourable government policies and support directed at improving the state's startup ecosystem, new ventures are making a mark. The Jharkhand Startup Policy, formulated on the lines of the Startup India campaign, has further strengthened the endeavours by providing huge spaces for incubation spaces, to support state startups and promote them through public-private partnerships. These incubation hubs host firms working on new technologies that meet the needs of society and the requirements of other countries. The policy further ensures benefits such as full reimbursement for costs incurred by startups while filing domestic or international patents as well as reimbursements for rental, utility, marketing expenses, amongst others.As per reports, the state would facilitate the growth and scaling of at least a 1,000 direct startups and support 1,500 startups virtually, by 2021. In 2019, the state's first government-run co-working space was inaugurated at the Atal Bihari Vajpayee Innovation Lab (ABVIL) in Ranchi enabling selected startups to use the space free of cost. Additionally, there have been several hackathons, startups yatras, and meets organised in the state in a bid to develop the ecosystem. In a nutshell, emerging business formats, increasing awareness and innovation in new products are the strengths and opportunities of startups in Jharkhand. With these rapid developments, the future surely looks bright. Do let us know your thoughts...Nandini MukherjeeManaging EditorJharkhand is on the Cusp of a Start-up BoomEDITOR'S NOTE Vol 6 · Issue 8 - 3 · March 17, 2020 Publisher Alok Chaturvedi Managing Editor Nandini Mukherjee Editorial Team Aparna Roy Lakshmi G Likhith Aradhya Subhadarshani Mohanty Monica Pallavi J Sales & Marketing Sanjana Mohanty Tapas Ranjan Mallick Editorial Queries startupcity@siliconindia.com To subscribe Visit: www.siliconindia.com/subscribe/ Cover price is ` 150 per issue.Printed and Published By Alok Chaturvedi on behalf of Siliconmedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017. Editor Alok ChaturvediCopyright © 2020 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.sales@startupcity.comGroup Art Director Ashok KumarCirculation Manager Magendran PerumalVisualisers Vetrivel S Krishna MohanSr. Manager Sales & Marketing Virupakshi Pattar
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