ONGC Start-up Grants: Rs 100 Crore funds 2686 views

ONGC (Oil and Natural Gas Corporation Ltd. ) launches Rs 100 Crore start-up funds to nurture new ideas: ONGC has launched a Rs 100 crore Start-up fund on its Diamond Jubilee year to foster and incubate new ideas related to oil & gas sector.

The ‘ONGC Start-up’, is in line with the Govt. of India’s initiative of ‘Start-up India’.

Introduction: ONGC will provide the entire support chain for start-ups that will include

1. Seed capital,
2. Hand-holding,
3. Mentoring,
4. Market linkage and
5. Follow-ups.

Field Areas of reserah

Engineering

1. Civil
2. Construction & Maintenance
3. Drilling
4. Electrical
5. Electronics & Telecommunications
6. Instrumentation
7. Mechanical
8. Production
9. Auto
10. Chemical
11. Petroleum
12. Instrumentation
13. Computer Engineering and Programming

Geosciences

1. Chemistry
2. Geology
3. Geophysics
4. Reservoir
5. Physics
6. Physics with Electronics

The aim of ‘ONGC Start-up’ is to increase the contribution of fresh & implementable ideas in the oil and gas fields.

This initiative will aim to promote entrepreneurship among the younger, energetic Indians by creating an ecosystem that is encouraging for growth of Start-ups in the oil and gas sector that has a huge potential for technology-enabled ideas.

No. of awards:

1. To encourage its own employees to innovate, ONGC will also be giving away awards to its 3 young officers for their innovative ideas.
2. Rest awards will be given to candidates across the country

ONGC is setting up a dedicated website to take this initiative forward (see this place for updates).

Further Information: Click here