Bangalore, 11th December 2023: Bharat Petroleum Corporation Limited (“BPCL”), a Fortune Global 500 Company & a Maharatna Energy Conglomerate, and IIMK LIVE, the incubation centre of Indian Institute Of Management, Kozhikode (“IIM Kozhikode”), have joined hands to strengthen the growth of start-ups in the clean energy and deep tech sectors, as part of the ‘Project Ankur’ initiative of BPCL.
Today’s Memorandum of Understanding (MoU) signing between Prof. Ashutosh Sarkar, Executive Director of IIMK LIVE, and Shri Sameet Pai, Head of Corporate Strategy, BPCL, solidifies a partnership that aims to cultivate and support innovative ideas with the potential to flourish as successful start-ups, by creating a multiplier effect that positively impacts the entire ecosystem, where IIMK LIVE will act as one of the implementation partners of this initiative and will provide incubation, mentorship, training to start-ups selected under this program.
BPCL’s Start-Up Scheme “Project Ankur” aims to develop a supportive ecosystem that nurtures entrepreneurship in the country by backing innovative ideas and concepts that have the potential to grow into start-ups. By joining hands with IIMK LIVE, BPCL aims to provide essential incubation, mentorship, and training to selected start-ups, amplifying their potential for success.
“At BPCL, we uphold the core values of ‘Innovation’ and ‘Customer Centricity and aspire to be future ready, bringing disruption in the energy sector to propel the industry towards a more sustainable future. Start-ups offer cutting-edge technology, novel perspectives, agile mind-sets, and foster an entrepreneurial culture. Therefore, this collaboration with IIMK LIVE aims to identify and form partnerships, nurturing high quality and potential start-ups,” stated Shri Sameet Pai, Head (Corporate Strategy), BPCL.
Speaking on the tie-up Prof. Debashis Chatterjee, Director IIM Kozhikode and Chairman IIMK LIVE added “India’s biggest contribution to the world has been knowledge, and the country has a lot to offer when it comes to innovations and initiatives. Sustainability is another critical aspect where we as an Institute are trying our best to develop a supportive ecosystem. This tie-up between IIMK LIVE and BPCL will be a boost to clean energy and deep tech bases start-ups and help contribute towards sustainable future.”
Through ‘Project Ankur,’ BPCL has already funded over 30 impactful start-ups, including companies like M/s Genrobotics, M/s Detect Technologies, M/s Anthill Creations, M/s Cygenica, and M/s EyeROV. These success stories stand as testament to the transformative power of innovation, bolstered by dedicated support.
