10 oil & gas PSUs, including ONGC, to support startups with a corpus of more than Rs 300 Cr

As part of its initiative to support, nurture, and incubate innovative ideas, 10 oil and gas PSUs (ONGC, OIL, GAIL, IOCL, HPCL, BPCL, MRPL, EIL, NRL, and Balmer Lawrie) have come together to support Indian startups. Putting their money where their mouth is, they have earmarked a corpus of Rs 300+ crore to promote entrepreneurship among young Indians.

The single, unified platform of the 10 oil and gas PSUs aims to reward and recognise startups with the most innovative solutions for problems faced in sectors like oil & gas, energy, health, hygiene, safety & environment, agriculture, waste to wealth, renewables, nanotechnology, Electrical Vehicle (EV) and more. Startups working in the social sector, including skill development, rural employment, and women empowerment can also apply for this opportunity.

The PSU incubator is in association with Bhubaneswar-based KIIT - TBI (Technology Business Incubator), which was recently awarded as one of the leading business incubation centres in India.

According to a spokesperson from KIIT-TBI, applications are invited from individuals, partnership firms, LLP, and private companies. The selection process will involve screening for short-listing through a structured evaluation matrix. The shortlisted proposals will be further reviewed by a committee through presentations and personal interactions with the applicants.

“It is interesting to note that oil and gas startup initiative is open to innovation across all domains. The platform will fuel Indian startup ecosystem and drive the economic growth of the nation in coming years,” said Dr Mrutyunjay Suar, Chief Executive Officer, KIIT Technology Business Incubator.

The last date for applications is April 15, 2019.

You can register here https://ongpsustartup.in/portal/register

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