Dy365 App Twitter Facebook YouTube
Ten state-owned oil firms including Indian Oil & ONGC launches Rs.320 crore startup fund
Posted on: 27-10-2017 , 11:36:AM | DY365 Bureau

 Picture Courtesy : PTI

 Ten State owned Oil and Gas companies including giants like Indian Oil and ONGC had launched a startup programme for new entrepreneurs with a fund of Rs 320 crore to be disbursed over a 3-year period.

This startup fund will be to support entrepreneurs only in the energy sector.

The scheme was launched in New Delhi on Wednesday with a MoU being signed by 36 startups for partnering with various state-run firms like Indian Oil, Hindustan Petroleum and GAIL India.

Speaking on the launch event, petroleum minister Dharmendra Pradhan said that being the third largest energy consumer in the world with an annual oil import bill of Rs 7 lakh crore, India urgently needed to act on import substitution.

“Oil import substitution can best come through alternate fuels, which can only be developed through innovation and new business models,” Pradhan said.


Click here to watch the Live Stream. | High - BB / Droid
Click here to watch Live Stream on iPhone / iPad / iTouch. High| Beta
Dy365 in TATA SKY   Dy365 in Airtel   Dy365 in Dish Tv   Dy365 in Videocon   Dy365 in Big TV   Dy365 in ACC
Channel No : 1953
Channel No : 643
Channel No : 1529
Channel No : 849
Channel No : 784
Channel No : 003
News Sections
Photo Gallery
2009-15 DY365, All rights reserved,
Privacy Policy,
Powered by Web.Com (India) Pvt. Ltd.