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Visakhapatnam: AU and IOCL Organises Pitching Session on IOCL Startup Fund on May 20

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Andhra University and Indian Oil Corporation are jointly organising IOCL Startup Fund Pitching on 20th May (Saturday) 2023 at  Senate Hall of Andhra University from 11 AM to 1,00 PM.

During the pitching session the IOCL top management represented by Dr SSV Rama Kumar Director R&D and his team will be presenting about the Startup Scheme of IOCL and the funding support available to prospective entrepreneurs’ startups, students, research scholars and faculty who have brilliant and transforming ideas and who wish to build startups based on their innovative ideas in the hydrocarbon sector.

The theme of this round of funding call is on Open Innovation Challenge “Green Resolve-Amrit Kaal Adhyay”-Nurturing New Ideas for Oil & Gas Sector.In the earlier three rounds of call for proposals 36 innovative ideas have been selected, funded and incubated across the country.

The uniqueness of the IOCL Startup Funding is that the mentoring support in developing a solution to the mutually agreed problem would be provided from the senior management team of IOCL and the technological solution would be validated in the IOCL establishments and IOCL will be the consumer of the product or process or the service that comes out of the startup so that market access is provided.

In each call IOCL aims to provide financial assistance of about Rs.30 Cr to enable young minds to validate their innovative ideas to blossom in to Startup Ventures.

The meeting will be presided over by Prof PVGD Prasad Reddy Vice Chancellor Andhra University. For registration and information, interested participants may contact Prof H Purushotham DPIIT-IPR Chair at 9599229217

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