Bharat Petroleum Corporation, India's leading fuel retailer has launched BPCL Start-up Grand Slam Season#1; a grand challenge for start-ups in India.
Under this challenge, BPCL has publicized six problem statements across IoT, analytics, AI-ML, asset performance management, mobility solutions, CRM, etc. consisting of BPCL's business challenges and invited visionary and innovative start-ups in India to propose solutions for these problem statements.
Winner of each challenge statement shall be given a grant of Rs 50 lakh and also an opportunity to carry out the PoC (Proof of Concept) of the same with BPCL.
BPCL also plans to release additional funds of up to Rs 1.5 crore to the winning start-ups if the proposed solution is scalable and required additional funds to do so.
Start-ups can apply for BPCL Start-up Grand Slam Season#1 on the Start-up India portal. The last date for applications is February 2nd, 2020. Winners shall be selected through a two-round process.
Finalists shortlisted from the first round have to pitch their solutions in the final round to a jury panel consisting of eminent personalities from start-up incubators, accelerators, VC firms, other investors, academia as well as experts from oil & gas industry.
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The Start-up Grand Season#1 is being organized by BPCL under its Start-up support initiative Ankur. Launched in 2016 with the aim to promote promising start-ups and nurture an eco-system conducive for innovations in the country, BPCL Ankur initiative has supported 25 start-ups thus far with a cumulative grant funding of Rs 25 crore.
Realizing that although providing grants is really helpful, start-ups need more support beyond finance to find their footing and commercialize their products, BPCL Ankur also offers
* Collaboration and mentoring support for product development
* Access to test facilities, labs and business challenges to turn your ideas into fine products and solutions
* Connect with partner eco-systems, industry peers and many B2B customers to expand your business
* Challenges, campaigns, networking events, meet-ups to build a thriving and connected start-up eco-system
Along the way, start-ups supported by BPCL Ankur have developed many innovative products and solutions.
Bandicoot - a robotic system developed by Genrobotic Innovations for manhole and sewer line cleaning aimed at the complete elimination of manual scavenging, inspection of underwater structures, tanks through submersible robots by Planys technologies, drone-based inspection technique developed by Detect Technologies for refinery stack inspection are some of these innovative solutions that are transforming their respective spheres of activity.
BPCL Ankur is turning a new leaf with Start-up Grand Slam Season#1, expanding the outreach of the program and exploring innovative engagement models with start-ups to make a positive impact on the overall start-up eco-system in the country.
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