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Bharat petroleum to fund startup ventures

Public sector oil company Bharat Petroleum Corporation Limited (BPCL) has agreed to provide grants and investments to two startup ventures at Maker Village under its flagship Project Ankur.

Published: 18th December 2017 09:52 PM  |   Last Updated: 19th December 2017 11:10 AM   |  A+A-

Aravind Krishnaswamy, general manager (Strategy) BPCL exchanging a MoU with Johns T Mathai, CEO, EyeROV Technologies at the Maker Village in Kalama

By Express News Service

KOCHI: Public sector oil company Bharat Petroleum Corporation Limited (BPCL) has agreed to provide grants and investments to two startup ventures at Maker Village under its flagship Project Ankur. The project aims to encourage entrepreneurship and innovation nationwide.

BPCL offers to support further development of an Underwater Drone created by EyeROV Technologies and a Cattle Milking developed by Resnova Technologies.

Aravind Krishnaswamy, general manager 
(Strategy) BPCL exchanged MoUs with Jijo Paul, CEO, Resnova Technologies and Johns T Mathai, CEO, EyeROV Technologies at the Maker Village in Kalama. BPCL and Kerala Startup Mission are now working together to find promising new startups to support.  Innovative ventures in need of funding can get in touch with KSUM. 

 “It is great that companies like BPCL are coming forward to support startups in the country. KSUM will be actively working with initiatives like Project Ankur to help startups reach the market faster,” said Dr Saji Gopinath, KSUM CEO.

Krishnaswamy said, “Compared to other states, Kerala has a very good system set in place for the promotion of startup culture. Projects like the KSUM and Maker Village are bringing the best out of the startups. When BPCL was looking for the best ideas to grant funds, Kerala came into the picture and we were happy to support these deserving ideas.” 



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