About Start-Ups

Purpose of Scheme

• To provide support for disruptive technologies
• To catalyze collaborative research
• To develop a vibrant, innovative ecosystem
• To nurture technological innovation and Intrapreneurship
• To encourage promotion of startups in rural areas and technology with a rural orientation.

General Nature of Projects Supported by the Fund

• Process/product innovations with significant business potential, social relevance and/or focused on the issue of environment-protection.
• Projects with clear objectives for technology/business process re-engineering, in the Oil Industry
• Alternative operating solutions for various domains of our business.
• Establishing or validating the proof-of-concept for a technology/business process re-engineering idea.
• Projects aimed at technology/business de-risking, i.e., reducing uncertainties.
• Concepts or approaches for development of zero waste / no waste / minimum waste generation

General Guide Lines

• The scheme is open for all citizens of India, including NRIs who are willing to work in India and undertake projects.
• Applicants may be individuals or teams.
• Incubatees from academic institutions having incubation centres approved by the Central Government or individuals associated therein and duly accredited, are also eligible to participate in the Open Innovation Challenge. In such cases, individuals or teams working in the incubation centres located within the said Institutes shall also be permitted. No bought-out technology shall be considered.
• The scheme will be administered through an online portal. Updates about the scheme will be available on the portal.
• IP rights emanating from the work carried out under the scheme can be retained by the innovator/entrepreneur. However, the first right of refusal for commercialisation of any validated PoC will be with BPCL. The commercial production/application based on the PoC has to be set up within India.