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Public sector oil refiner Bharat Petroleum Corporation Ltd (BPCL) signed an MoU with Kerala Startup Mission, a state government nodal agency for promoting entrepreneurship, to provide aid and investments in start-ups from various technology domains. It will also provide exclusive access for start-ups to its R&D facilities, expertise and network.
Aravind Krishnaswamy, General Manager (Strategy), BPCL, and Saji Gopinath, CEO, Kerala Startup Mission, signed the MoU here.
The MoU, which will be valid for two years, aims to spur the state government’s efforts and derive long-term benefits from start-ups, an official spokesman of the Government of Kerala said. Among those present at the signing event were Paul Antony, Additional Chief Secretary, and M Sivasankar, Secretary, Electronics and IT, Kerala.
BPCL’s Krishnaswamy said that the company will utilise selected products from start-ups on a chargeable basis in its business verticals. It will also conduct workshops to promote start-up culture.
According to Sivasankar, start-up entrepreneurs and students in the state are driven by good ideas, but face a dearth of business models. The backing that they receive from trade and industry will be a great source of encouragement.
Kerala Start-up Mission will identify and work on ideas with start-ups, shortlist and curate a selection with which technology companies can work, said Gopinath.
The selected start-ups can use the technical facilities and domain expertise offered by the industry.
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