Start-Up Fund At Hindustan Petroleum Corp. Ltd
The Start-up scheme of Hindustan Petroleum Corporation Limited (HPCL), is a program to enable innovators and entrepreneurs pursue a promising idea, establish and validate proof of concept (POC) and support commercialization. HPCL wishes to help innovators and entrepreneurs or projects having established proof of concept (POC) to eventual commercialization / implementation.
Objective of Scheme
To support and fund projects in the area of primary energy and hydrocarbon sector that aim to pursue an innovative idea, by promoting the creation of new start-ups / early start-ups and establishing or validating proof of concept leading to commercialization / business development.
Nature of Projects
Supported for Funding
Projects that propose a process / product innovation with significant potential impact or commercial potential.
- Projects with clear technology objectives.
Projects focused on establishing or validating proof-of-concept for an innovative idea.
Projects aimed at technology de-risking i.e. reducing uncertainties in the technology
The Individual should be an Indian citizen including NRIs who are willing to work in India and undertake projects promising innovative technologies/solutions.
- Group of Individuals meeting above condition can also apply. The primary applicant must be the project leader
The Company should be registered under the Indian Companies Act, 1956/2013.
- A company is considered as ‘Owned’ by resident Indian citizen if minimum 51% of the capital in it is beneficially owned by resident Indian citizens and / or Indian companies, which are ultimately owned and controlled by resident Indian citizens.
A Project Leader who meets eligibility requirements mentioned below must represent the Company’s application.
Please refer to the advertisement released by HPCL in national newspapers inviting applications from Start-ups and Innovators.
- The applicant needs to submit the application online by registering and logging-on to the HPCL Start-up Portal here. The applications shall only be accepted online.
Applicants are advised to provide sufficient details in their applications to allow for an informed and fair evaluation / review. Applicants are advised to provide self-contained proposals with essential supporting materials provided as uploads.
The applicants will make presentation of the proposal / idea for review by HPCL. The proposals will be evaluated along the following criteria
Feasibility of the idea
- Novelty / Innovation
Importance and potential impact
Strategy for commercialization
Barriers / Risks and strategies to address them
Team profile and capabilities
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