Patna: The department of information and technology has inaugurated a Startup Hub - a dedicated common office infrastructure for IT sector startups - in Patna on Friday.

Deputy chief minister Sushil Kumar Modi, who is also the information technology minister, said: "Our startup policy is the most forward-looking policy in the country. Our government will provide maximum possible support to the IT sector startups, which have a huge potential for the development of the state and in generating employment."

"A total of 24 startups have been given office space along with infrastructure support such as free electricity, Internet and rental free space in 14,000 square feet area by the state government in Biscomaun Towers to grow and become established companies," said Rahul Singh, secretary, information and technology department.

Sushil Modi said: "We also created a Rs 500 crore venture capital fund out of which Rs 50 crore have been reimbursed. We request information and technology professionals to come forward and have a startup in Bihar at least for two years. We will give them space in the industrial parks at 10 percent rates, reimbursement for patent filing along with financial support and common infrastructure to them."

Rahul said: "We are also planning to build an IT tower in Patna. Professionals can apply for office space at concessional rates. The plans for Bihta IT city and a 100-acre campus in Rajgir are under process."

Under the Bihar Startup Policy, 2017, startups which completed five years of registration and have a turnover of less than Rs 25 crore can avail funding and incubation support under the Bihar Industrial Investment Promotion Policy 2016. Entrepreneurs, however, say the five-year criteria has been stringent and the access to funding support is limited to a few privileged ones.