Start-up Ecosystem In India

State-run oil companies to set up start-up fund

  1. Context: Statement issued at Natural Gas Vision 2025 conference organized by the Indian Oil Corp. Ltd
  2. What? State-owned oil companies will set up a fund that will finance start-ups based on innovative ideas in the energy sector
  3. The move is in line with the government’s idea of promoting entrepreneurship, innovation and self-employment
  4. Any start-up needing hand-holding can seek support from the fund
  5. Public sector companies will independently evaluate the commercial viability of the project and take a decision on their equity participation

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