Road show in city on Start-Up funding

Visakhapatnam: National Research Development Corporation (NRDC)–Intellectual Property Facilitation Centre in collaboration with Indian Oil Corporation Limited (IOCL) and AP Innovation Society (APIS) organised a road show on Saturday with an aim to create awareness among the potential entrepreneurs, start-ups about the start-up funding opportunities available with IOCL under the IOCL Start-up Scheme.

The areas of funding are from various sectors, including oil and gas sectors. There is a provision of grant ranging from Rs 1 crore to Rs 3 crore to each selected and promising start-up to develop an innovative idea to technology. 

The start-up fund is given as grants-in-aid to start-ups which would like to convert their innovative ideas into proof of concepts, which will be useful for the oil and  energy sector.

Dr H Purushotham, Chairman and Managing Director, NRDC, presented the role of NRDC in implementing the IOCL Start-Up projects as administering agency of IOCL Start-Up Fund Scheme. 

Purushotham emphasised the participants to submit as many proposals as possible before August 15 and NRDC can help the applicants in fill the application forms if required, for needful assistance can reach out to BK Sahu, officer in-charge and manager, NRDC-IPFC, at bksahu@nrdc.inand on phone 9810104163.

In the first round, 11 Start-Ups were selected and they are all being incubated at different incubators across the country.