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Do you have startups? These PSUs are looking for you

The platform created by the 10 oil and gas PSUs will identify and reward startups that have the most innovative solutions to problems faced in a variety of sectors, including oil and gas

Do you have startups? These PSUs are looking for you

New Delhi: In order to give an impetus to innovative ideas, a group of 10 oil and gas PSUs, including ONGC, OIL, GAIL, IOCL, HPCL, BPCL, MRPL, EIL, NRL, and Balmer Lawrie, have come together to give a platform to young entrepreneurs and incubate Indian startups. With the intention of putting money right at the source of the talent pool, the body, called ONG Startup, has tied up with Bhubaneswar-based KIIT - TBI (Technology Business Incubator) and set aside a corpus of over Rs 300 crores to promote entrepreneurship among young students.

What will ONG Startup do?

The platform, https://ongpsustartup.in, created by the 10 oil and gas PSUs will identify and reward startups that have the most innovative solutions to problems faced in the oil and gas, energy, health, hygiene, safety & environment, agriculture, waste to wealth, renewables, nanotechnology, Electrical Vehicle (EV) and more. The initiative is also open to startups working in the social sector, in fields like skill development, rural employment, and women empowerment.

Applications invited till April 15

A spokesperson from KIIT-TBI said that applications have been invited from individuals, partnership firms, LLP, and private companies and the last date is April 15. The applications will be screened on the basis of a structured evaluation matrix. The ones that are shortlisted will be 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 the Indian startup ecosystem and drive the economic growth of the nation in coming years,” Dr Mrutyunjay Suar, Chief Executive Officer, KIIT Technology Business Incubator, said.