Applications Open: EIL EngSUI Startup India Initiative

Objectives

• The objective of the scheme is to stimulate, foster, and enhance strategic research and innovation capabilities in the oil & gas industry. Startups giving innovative solutions in the field of energy are supported.

Focus Areas

• Oil & Gas Sector.

Benefits 

• EIL intends to create an enabling system for promoting the “Start-Up India (SUI)” initiative through:-
  • Offering Intellectual support
  • Offering Infrastructural support
  • Offering Financial Support
• EIL encourages Start-Ups to take up projects in the following areas, under this EngSUI program:
  • Developing capability to commercially manufacture and supply hardware for oil & gas technologies.
  • Developing new process/technology in areas of interest to the hydrocarbon sector
  • Information Technology (IT) and Industrial Internet of Things (IIoT) interventions of relevance to the hydrocarbon sector
  • Other Areas like: Lube packaging, Renewable energy and storage, Nanomaterials, Engineering plastic from petrochemicals product slate, Replacement of raw material/catalyst, Waste to energy, Health, Safety & Environment (HSE).

Phases of Funds

• The funding is provided in identified Focus Areas, for its Start-up India initiative “EngSUI” under the following phases:
  • Innovation Challenge Funding (IC): Provision of taking equity at a later stage at the discretion of EIL
  • Seed Funding (SF): Provision of taking equity at a later stage at the discretion of EIL
  • Direct Equity Funding (EF): Equity will be taken straight away:
    • Equity Funding through Host Institution (EF-HI)
    • Equity Funding other than Host Institution (EF-OHI)

Funding Information

• Phase-I (Innovation Challenge Grant)
  • Category-I:
    • Proof of Concept/prototypes/Models-
    • Maximum support is limited to Rs. 2 Lakhs per proposal or 100% of the total proposal cost whichever is lower
  • Category-II:
    • Fabrication of working model/process know-how/testing & trial/patenting/technology transfer etc. (Innovation Incubation)-
    • Maximum support is limited to Rs. 20 Lakhs per proposal or 100% of the total proposal cost whichever is lower.
• Phase-II (Start-Up Proposals- Seed Fund)
  • Maximum support is limited to Rs. 1 Crores per proposal limited to 100% of the total proposal cost. The support may be provided for scaling up technology based innovations, including patenting/design registration/trademark registry/ technology transfer to develop a marketable product/process towards enterprise creation.
• Direct Equity Fund
  • Equity Funding through Host Institution (EF-HI):
    • Maximum support is limited to Rs. 5 Crores per proposal. The direct equity fund may be provided for scaling up the Startup towards enterprise creation.

Eligibility Criteria

• Phase-I (Innovation Challenge Grant):
  • Any resident Indian citizen including a student innovator can avail support to develop their novel idea into demonstrable models/prototypes.
  • Any resident Indian citizen having innovative ideas
• Phase-II (Start-Up Proposals- Seed Fund):
  • Startup entities who have successfully demonstrated proof of concept with the support of any government institutions or agency.
  • Valid DIPP/DPIIT Certificate
• Direct Equity Fund:
  • Startup entities who have successfully demonstrated marketable product/process
  • Valid DIPP/DPIIT Certificate

For more information, visit TIDES.