About the Program
Innovation is the only mantra for ruling the future.
To nurture and enable innovations capable of changing the game for the industry, Balmer Lawrie had set up a Startup Fund in 2017, in alignment with ‘Startup India’, a flagship initiative of the Government of India.
Following the success of Round 1 of the Startup Fund Program in association with IIM Calcutta Innovation Park, Balmer Lawrie launches Round 4 of the Program towards empowering innovations and translating breakthrough ideas into successful businesses.
The Startup Fund Program – Round 4 will scout for ground breaking innovations to nurture and support them with seed funding, office space, knowledge resource, mentors, networking, customer connect, investor connect etc., in collaboration with IIM Calcutta Innovation Park.
Program Benefits
The selected start-ups for this program will be provided with multiple valuable benefits upto a period of 3 years.
- Total corpus of Rs 2 Cr has been earmarked for the program
- Mentorship & Guidance from IIM Calcutta Innovation Park
- Customized Capacity Building Programs
- Access to IIM Calcutta Innovation Park Network
- Market and Investor Connect
- Access to co-working space and other shared services
Timeline
Eligibility
- The applicant must be a citizen of India.
- The entity should be a startup recognized by DPIIT.
- The venture is in the early revenue stage or has a prototype/working model.
- The solution should have close synergy with the sectors mentioned under the Section "Innovation Areas"
FAQs
- The applicant must be a citizen of India.
- The entity should be a startup recognized by DPIIT.
- The venture is in the early revenue stage or has a prototype/working model.
- The solution should have close synergy with Balmer Lawrie’s line of businesses:
- Logistics Services including Transportation, Freight Forwarding, Container Freight Stations, Cold Chain.Logistics and 3 PL.
- Travel & Hospitality, Ticketing, Tours & Vacations.
- Greases & Lubricant.
- Industrial Packaging solutions.
- Chemicals including Leather, Textile and Agro chemicals.
- Refinery & Oil Field Services.
- Other areas such as Renewable Energy, Electric Vehicles, Waste to Wealth.
You may go to the application page https://contest.iimcip.org/apply-now/bl-nsh-2023 and apply. In case of doubts you can email incubation@iimcip.org.
The list of selected candidates will be published in IIMCIP webpage. The selected candidates will also be notified through their registered email id and phone number.
IIM Calcutta innovation Park (IIMCIP) is a nonprofit company set up under the aegis of IIM Calcutta to promote entrepreneurship and innovation and established itself as a premier hub of entrepreneurship development in East and Northeast India.
Founded by two Scotsmen, Stephen George Balmer and Alexander Lawrie, in Kolkata, Balmer Lawrie & Co. Ltd. started its corporate journey as a Partnership Firm on 1st February 1867. Traversing the 154 years gone by, today Balmer Lawrie is a Miniratna - I Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Govt. of India, with a turnover of Rs. 1612 crores and a profit of Rs. 232 crores. Along with its five Joint Ventures and two subsidiaries in India and abroad, today it is a much-respected transnational diversified conglomerate with presence in both manufacturing and service sectors. Balmer Lawrie is a market leader in Steel Barrels, Industrial Greases & Specialty Lubricants, Corporate Travel and Logistics Services. It also has significant presence in most other businesses, it operates, viz, Leather Chemicals, Logistics Infrastructure etc. In its 154 years of existence, Balmer Lawrie has been successfully responding to the demands of an everchanging environment, leveraging every change as an opportunity to innovate and emerge a leader in industry.
Terms and Conditions
- The information provided through the application will be kept strictly confidential and will be used for the purpose of the program only.
- The decision of the organizing team, regarding selection of candidates, is final, firm and binding.
- The application and / or incubation will be cancelled if misrepresentation of facts is found at any point of time.
- During various stages of the program the participants need to disclose information of the company.
- The seed funding to be provided to the start-ups will be preferably against equity (to be decided at the time of funding).
- Start-ups presently being incubated by institutes approved by the Central Government for such incubation, are also eligible to participate and if selected must submit a no-objection certificate from the concerned incubating institute.
- An entity can submit more than one proposal having unique scope, but only one may be selected based on evaluation.
- An applicant, who has applied for similar schemes of any CPSE elsewhere and gets selected, should immediately intimate IIMCIP about such selection as multiple sourcing of fund under the similar scheme is not allowed.
- Bought out technologies would not be entertained.
- Upon successful innovation and test marketing, the production / required infrastructure should be setup within India.
- The startup fund is aimed at fostering entrepreneurship and promoting innovation by creating a healthy ecosystem for the startups to prosper and grow, and it should not in any way be considered as a Research Fellowship for supporting research of Ph.D. students or any other such academic research.
- Soft copy of the Qualification Credential, Innovation Idea, Proof of Concept, Feasibility Report, Profile of Individuals / Team Members and documents in support of the eligibility should be provided as and when requested.
Contact Us
Diamond Harbour Road
Kolkata 700104
In case of any question / concern of an applicant, a short form to Fill Up and Submit