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IIM Lucknow signs MoU with HPCL to promote energy start-ups

Under the tie-up, the selected start-ups would be provided with seed funding

Virendra Singh Rawat  |  Lucknow 

Photo: Shutterstock
Photo: Shutterstock

Indian Institute of Management, Lucknow (IIM-L) and Hindustan Petroleum Corporation Limited (HPCL) have signed a Memorandum of Understanding (MoU) for incubating innovative ideas and business in the domestic

Under the tie-up, the selected would be provided with seed funding and incubated at Enterprise Incubation Centre (L-INCUBATOR). The was signed recently during Startup Pitch Day at the Noida campus of

“This agreement will unlock the unlimited and undeniable potential of the start-up ecosystem in India and will impact the economy as a whole,” faculty professor M Akbar said about bringing its start-up programme to L-INCUBATOR.

Meanwhile, the energy have made presentations to the Steering Committee, constituted for this purpose, comprising senior officials and faculties.

Earlier, L-INCUBATOR had received nearly 150 applications and after two rounds of screening, 12 applicants were shortlisted and invited for the pitching session, an spokesperson informed.

The start-up proposals mainly pertained to the fields of artificial intelligence (AI), data analytics,  Internet of things (IoT), solar energy, among others. 

Executive Director Rakesh Misri said his organisation was committed to fostering new ideas in the and promoting entrepreneurship among the Indian youth.

First Published: Tue, July 25 2017. 14:43 IST