स्टार्ट उप

‘Start-up India’, a flagship initiative of the Government of India, was launched on 16th January 2016. It is intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities.

In line with GOI’s initiative, the Company has set up Start-up Fund for extending technical and financial support to the Start-ups to grow through innovation.

The Company shall facilitate the community of Innovators & Entrepreneurs in pursuit of promising technology/ business process, re-engineering ideas towards validated PoC by funding of Incubation ecosystem and intellectual mentoring.

Start-ups which reach the validated PoC stage may also be considered for support during commercialization on merits of each case.

The Company shall provide complete support to Start-ups including funding, hand holding, mentoring and follow ups.

IPR: Start-up shall have full right on the IP generated and OIL shall not make any claim.

• Start-up, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
• Start-up must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
• Start-up should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted
• Start-up should not have received more than Rs 10 lakh of monetary support under similar nature of scheme of any other organisation. This does not include prize money from competitions and grand challenges, subsidized working space, founder monthly allowance, access to labs, or access to prototyping facility.
• Shareholding by Indian promoters in the start-up should be at least 51% as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018 at the time of application to the Company for the scheme
• No support will be provided to any start-up more than once under this Policy.

• Products or services or processes which do not have potential for commercialization.
• Projects with no plan to convert ideas into saleable (implementable) technology / products / services.
• Projects with no element of novelty or innovation.
• Projects which are not in line with the Objectives of Start-up India scheme.
• PhD student research or any other academic research.
• Projects which are of pure R&D in nature with no potential for commercialization.
• Projects with serious Ethical and Environmental Health and Safety risks deemed unfeasible by experts.
• Start-ups applying with proposals already having PoC will not be eligible for participation in this scheme.

• Working Space at incubation centre.
• Internet, electricity, and water facility at working space.
• Laboratory and workshop facilities
• Library facility
• Mentoring support

Funding of Start-up projects by the Company shall be in form of Grants till PoC / Foreclosure Stage.Any funding during commercialization stage beyond PoC will be in the form of Equity participation and through a separate Agreement.

Duration of support to Start-up as will be at the discretion of OIL and will be guided by tripartite agreement between OIL, Incubation center & Start-up

The process of application will be portal driven. Application and relevant documents need to be uploaded on this portal only. Applications received in physical form, through e-mail or any mode other than online portal shall be summarily rejected.

Shortlisted applicants shall be invited for making techno-commercial presentation/ personal interaction either in person or through video–conferencing

For on boarding of the approved Start-up Project, a tripartite Agreement shall be signed amongst the Company, the Start-up and the Incubation Centre .

The Government of India recognises the importance of startups in driving innovation and economic growth. Various ministries and departments have introduced various schemes to provide financial, infrastructural, and regulatory support to startups occasionally. To support this mission, Oil India Limited under its SNEH initiative has signed an MoU with IIM Lucknow Enterprise Incubation Center [IIML EIC] and has launched an exclusive program for Startups named “Corporate VC Startup Engagement Program [CSEP]”. The program is open for Startups across various sectors and stages having a strong integration of technology and innovation at its core.

Startups, under this 24-month long Incubation program will be offered the most comprehensive support from OIL India and IIML EIC in the areas of Idea Conceptualization and Validation, Product Development, Mentorship and capacity Building, GTM Strategy and exploring Product Market Fit, Corporate Industry Connect, Legal & IPR Support, Fund Raising Support, Global Launch Support, Marketing Strategy Support, Market Access to Related Area Startups, Access to Industry Experts from the Senior Management of Oil India Limited pool and Funding Support In the Form of Equity Investments / Grant.

To be a part of the program the Startup should be a registered entity in India holding a DPIIT Number and recognised under the category of a Startup by Govt of India.

The online application portal shall remain open for submission of applications throughout the year. However, applications will be processed by OIL on half yearly basis only.

Oil India Limited OIL HOUSE, Plot No. 19, Sector 16A
NOIDA- 201301
Uttar Pradesh

Email :startup[at]oilindia[dot]in

Ph :0120-2419139