Bihar Information and Technology Minister Krishna Kumar Mantu opened office spaces for 10 new IT startups and allocated them to young entrepreneurs free of charge at Biscomaun Tower, giving a new boost to the startup ecosystem in Bihar.

The spaces on the 9th and 13th floors were allocated to young entrepreneurs in a symbolic key handover ceremony.

These are Hiprotech India Technology Pvt. Ltd., Green Stark Electronics Pvt. Ltd., Flow APIs Pvt. Ltd., Sevacity Technology Pvt. Ltd., Skaas Technologies Pvt. Ltd., Ostomverse Innovation Pvt. Ltd., Momentum Plus Online Technology, Polytropic System Pvt. Ltd., Makasa Industries Pvt. Ltd. and HPF Venture India Pvt. Ltd.

Through Bihar IT Policy 2024, the government extends a gamut of incentives to young entrepreneurs in the form of Capital Investment Subsidy, Interest Subsidy, Lease Rental Subsidy, Electricity Bill Subsidy and Employment Generation Subsidy.

"Employing youths of Bihar is our prime goal. To ensure this, we need to strengthen and encourage start-ups throughout Bihar," Mantu said during his address to the gathering.

The state government is providing startups with more than financial assistance. Free office space for the initial six months extendable on performance  is made available to eligible IT startups.

These offices are fully furnished with cabins and workspaces, air conditioning, high-speed internet connectivity, reception and security services, housekeeping, parking and cafeteria facilities and dedicated elevator access.

It's part of Bihar's bigger push to turn it into an emerging IT hub. As many as 13 startups have already availed themselves of this scheme up until now, and adding another 10 recently gives the momentum its next leg. The IT Secretary Abhay Kumar Singh, who attended the function along with Special Secretary Arvind Kumar Chaudhary, said the government is not looking for immediate returns.

"These nascent firms require the proper environment in which to develop, and we are providing exactly that. Our extension policy on a review basis ensures the right resource allocation to good ventures," he added.

The function ended with a vote of thanks by Special Secretary Arvind Kumar Chaudhary, praising the government's commitment to developing Bihar as a startup conducive, technology enabled economy.