Start Up Fund

‘Start-up India’, a flagship initiative of the Government of India, was launched on 16th January 2016. It is intended to build a strong eco-system for nurturing innovation and Start-ups in the country that will drive sustainable economic growth and generate large scale employment opportunities.

In line with GOI’s initiative, the Company has set up Start-up Fund for extending technical and financial support to the Start-ups to grow through innovation.

To participate in Startups under Start-Up Nurturing, Enabling & Handholding (SNEH), the Startup(s) must  meet the following criteria -

1. Startup(s) must be recognized by DPIIT.
2. Startup(s) must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
3. Startup(s) should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted.
4. For "Grant funding to Startup," it is required that the startup be incorporated within two years from the date of application to SNEH.
5. Shareholding by Indian promoters in the Startup(s) should be at least 51% as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018 at the time of application to SNEH.

Following nature of Startup(s)  shall not be supported by OIL.

1. Products or services or processes which do not have potential for commercialization.
2. Proposals with no plan to convert ideas into saleable (implementable) technology / products / services.
3. Proposals with no element of novelty or innovation.
4. PhD student research or any other academic research.
5. Proposals which are of pure R&D in nature with no potential for commercialization.
6. Proposals with serious Ethical and Environmental Health and Safety risks deemed unfeasible by experts.

Any false declaration made by the Applicant shall lead to disqualification during the course of selection or at any point of time thereafter. OIL shall stop further funding to the Startup(s). The said Startup(s) and its associates shall be debarred from further participation in SNEH. This may also invite legal actions.

• Start-up, recognized by DPIIT, incorporated not more than 2 years ago at the time of application.
• Start-up must have a business idea to develop a product or a service with market fit, viable commercialization, and scope of scaling
• Start-up should be using technology in its core product or service, or business model, or distribution model, or methodology to solve the problem being targeted
• Start-up should not have received more than Rs 10 lakh of monetary support under similar nature of scheme of any other organisation. This does not include prize money from competitions and grand challenges, subsidized working space, founder monthly allowance, access to labs, or access to prototyping facility.
• Shareholding by Indian promoters in the start-up should be at least 51% as per Companies Act, 2013 and SEBI (ICDR) Regulations, 2018 at the time of application to the Company for the scheme
• No support will be provided to any start-up more than once under this Policy.

• Working Space at incubation centre.
• Internet, electricity, and water facility at working space.
• Laboratory and workshop facilities
• Library facility
• Mentoring support

Duration of support to Start-up as will be at the discretion of OIL and will be guided by tripartite agreement between OIL, Incubation center & Start-up

The process of application will be portal driven. Application and relevant documents need to be uploaded on this portal only. Applications received in physical form, through e-mail or any mode other than online portal shall be summarily rejected.

Shortlisted applicants shall be invited for making techno-commercial presentation/ personal interaction either in person or through video–conferencing

For on boarding of the approved Start-up Project, a tripartite Agreement shall be signed amongst the Company, the Start-up and the Incubation Centre .

Apply Now For Start Up

The online application portal shall remain open for submission of applications throughout the year. However, applications will be processed by OIL on half yearly basis only.

Oil India Limited OIL HOUSE, Plot No. 19, Sector 16A
NOIDA- 201301
Uttar Pradesh

Email :startup[at]oilindia[dot]in

Ph :0120-2419139