Thiruvananthapuram: In a bid to spruce up the Kerala Government’s efforts in the entrepreneurial space and derive long-term benefits from start-ups, nodal agency for promoting entrepreneurship Kerala Startup Mission has signed a memorandum of understanding (MoU) with Bharat Petroleum Corporation Limited (BPCL). The pact will aim at providing technological aid and investments in start-ups from various technology domains.
As per the MoU, BPCL will provide financial support and exclusive access for start-ups to the company’s R&D facilities, expertise and network. The MoU is for two years.
BPCL General Manager (Strategy) Aravind Krishnaswamy and Kerala Startup Mission CEO Dr Saji Gopinath signed the MoU in the presence of Additional Chief Secretary Paul Antony and Electronics and IT Secretary M Sivashankar.
“Startup entrepreneurs and students in the state are driven by good ideas, but face a dearth of business models,” said Sivashankar. “The backing that they receive from trade and industry is a great source of encouragement for them,” he added.
Kerala Startup Mission will identify and work on ideas with start-ups, shortlist and curate a selection with which technology companies can work, said Dr Saji Gopinath. The selected start-ups can use the technical facilities and domain expertise offered by the industry.
“BPCL will utilise selected products from start-ups on chargeable basis in its business verticals,” said Aravind Krishnaswamy. “BPCL will also conduct workshops to promote start-up culture,” he pointed out.
ICFOSS Director Dr Jaishankar Prasad, BPCL Business Development Executive Director Pramod Sharma, and BPCL Kochi Refinery Executive Director Prasad Panicker were also present. Suhail of Tranzmeo, a start-up for petroleum piping solutions, and Manjunath, from waste management solution start-up Renow, made presentations at the function.