Bharat Petroleum Corporation Ltd (BPCL) has extended its support to 25 start-ups to become a successful venture under its scheme — Project Ankur. This scheme is an initiative to support start-ups through grants and was launched in 2016 to develop an ecosystem that nurtures entrepreneurship in the country by backing innovative ideas and concepts.
“The start-up ecosystem could not flourish without positive interventions by regulators, policymakers, investors, academic institutions, partners and corporations that are capable of bringing necessary support and opportunities for startups,” said Rahul Tandon, head corporate strategy, BPCL.
Project Ankur also offers collaboration and mentoring support for product development, and access to test facilities, labs and business challenges to turn ideas into fine products and solutions, according to the oil and gas major.
Further, BPCL Ankur is going to launch Start-up Grand Slam Season#1 and invited entrepreneurs to have a look at a few of BPCL’s business challenges and attempt to implement solutions. “Start-up grand slam includes cumulative prize money of Rs 3 crore, each winner will receive Rs 50 lakh. For making BPCL start-up grand challenge, BPCL can explore additional funding if needed,” added Tondon.
This could be an opportunity for start-ups to work and collaborate with BPCL to develop new products and solutions. Under this challenge, BPCL has publicized six problem statements across IoT, Analytics, AIML, Asset Performance Management, Mobility Solutions, CRM etc.