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Startup Fund program Round 5

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Startup Fund program – Round 2

Startup Fund program – Round 1

Innovation Areas

Focus areas of the Start-Up Scheme

• 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

Eligibility

Who can apply

An entity shall be considered as a Startup:

• Upto a period of ten years from the date of incorporation / registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India.
• Turnover of the entity for any of the financial years since incorporation / registration has not exceeded one hundred crore rupees.
• Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
• An entity formed by splitting up or reconstruction of an existing business shall not be considered as ‘Start-up’.

General Guidelines

Important information for applicants

1. Balmer Lawrie & Co. Ltd. has collaborated with IIM Calcutta Innovation Park (IIM-CIP) for the National Level Startup Hunt Program. IIM-CIP shall receive all applications on behalf of Balmer Lawrie & Co. Ltd. and a dedicated webpage has been hosted by IIM-CIP for receiving online application from startups. Alternately, start-ups applying through the www.balmerlawrie.com website would be redirected to the IIM-CIP once they click the 'Apply Now' button.
2. Eligible applicants should fill in the online application form available in the 'Apply Now' section.
3. An entity can submit more than one proposal having unique scope, but only one may be selected based on evaluation.
4. 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.
5. An applicant, who has applied for similar schemes of any CPSE elsewhere and gets selected, should immediately intimate Balmer Lawrie & Co. Ltd. about such selection as multiple sourcing of fund under the similar scheme is not allowed.
6. Bought out technologies would not be entertained.
7. Upon successful innovation and test marketing, the production / required infrastructure should be set up within India.
8. 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.
9. Last Date for receipt of online application is February 28, 2022. The Qualification Credential will be as per the criteria set by IIM-CIP and the documents in support should be furnished as and when required.

Selection Process

Two stage evaluation process

Applicants would be shortlisted by a constituted committee based on their application. While shortlisting, the committee would look into the following aspects:

• Uniqueness of the Innovation Idea
• Feasibility of the Idea
• Scope of Innovation
• Social, Environmental and Economic Impact
• Revenue / Business Model
• Robustness of the business plan along with timelines
• Relatedness of the innovation idea with Balmer Lawrie’s line of businesses
• Profile of Team Members
• Revenue & Expenditure Plan
• Presentation & Personal Interaction

Benefits