Kerala Startup Mission, the state government's nodal agency for promoting entrepreneurship, has signed an MOU with Bharat Petroleum Corporation Limited to provide aid and investments in start-ups from various technology domains.
The MoU aims to spur the state government's efforts and derive long-term benefits from start-ups.
BPCL will provide financial support and exclusive access for start-ups to the company's R&D facilities, expertise and network.
BPCL General Manager (Strategy) Aravind Krishnaswamy and Kerala Startup Mission CEO Dr Saji Gopinath signed MOU in the at a function here yesterday, a release said here.
"Startup entrepreneurs and students in the state are driven by good ideas, but face a dearth of business models," IT Secretary Sivashankar said.
"The backing that they receive from trade and industry is a great source of encouragement for them", he said.
Kerala Startup Mission will identify and work on ideas with start-ups, shortlist and curate a selection with which technology companies can work, Gopinath said.
The selected start-ups can use the technical facilities and domain expertise offered by the industry, he said.
BPCL will utilise selected products from start-ups on chargeable basis in its business verticals. BPCL will also conduct workshops to promote start-up culture", he said.
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