Deadline: 30-May-21
GAIL has launched a call for proposals for its ambitious Start-Up initiative to build a strong eco-system for nurturing Innovation and Start-Ups in the Country, to derive sustainable economic growth and generate employment opportunities. Government policies are also encouraging Start-Ups by providing fiscal incentives.
The Mission for Start-Up Initiative is to Identify, Invest and Nurture Start-Ups that can become successful companies in the long run and provide profitable returns from this diversification.
GAIL intends to take-up investment in Start-Ups to give a boost to the Government’s efforts and also to derive long-term benefits.
Areas
GAILs indicative list of such areas is as follows:
- Core Areas
- Natural Gas
- New applications of Natural Gas
- City Gas Distribution
- Natural Gas Storage
- Gas Sourcing and optimization
- Pipeline Operations and Maintenance
- Petrochemicals
- Polymer Product Optimization
- Development of new polymer grades, catalysts and indigenization of existing catalysts
- New Polymer applications
- Energy
- Energy efficiency/conservation in process plants/pipelines
- Renewable and Alternate energy sources
- Others
- Project Management
- Re-engineering of processes
- Nano materials
- Internet -of-Things, Cyber Security, Data Mining and Analytics
- Customer satisfaction
- Water and Effluent Treatment, Desalination
- Any Other area relevant to GAIL’s Business
- Natural Gas
- Non-Core Areas
- Health
- Nutrition & Health
- Techno-medical
- Drinking water & Sanitation
- Social
- Education
- Skill development
- Rural development
- Women empowerment
- Care of elderly and differently abled
- Environment
- Pollution abatement
- GHG reduction
- CO2 conversion / utilization
- Security and Safety
- Health
Eligibility Criteria
- GAIL will consider Proposals for funding only from those entities that are registered as Start-Up by Department for Promotion of Industrial and Internal Trade (DPIIT) previously named as DIPP. Presently, the eligibility criteria is:
- Up-to a period of ten years from the date of incorporation/ registration, if it is incorporated as a private limited company or registered as a partnership firm or a limited liability partnership in India.
- Turnover of the entity for any of the financial years since incorporation/ registration has not exceeded one hundred crore (100) 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.
- Provided that any such entity formed by splitting up or reconstruction of a business already in existence shall not be considered a ‘Start-Up’. A proprietorship or a public limited company is not eligible as Start-Up.
- In addition, the following Eligibility Criteria should also be met: The Start-Up should not have been black-listed by any Government entity or any Incubation Centre. The Promoter(s) shall not have any criminal case pending in any Court of Law in India. A Declaration to this effect shall be required to be submitted in this respect.
Criteria
GAIL would look at the following criteria while evaluating the Investment Proposals of Start-Ups:
- Experience of Founders in focus areas or its related business
- Stage of Start-Up
- Brief Synopsis of Proposal & Product / Services to be offered and targeted Customers
- Details of existing business / infrastructure
- Plans for business scale-up
- Funding from Incubation Centre, if any
- Current Valuation of the Company
- Details on Innovative / Unique features/propositions
- Market Size of Business
- Details of technical feasibility
- Details of business feasibility
- Details of risk anticipated for the proposed proposal
- Estimated project cost
- Investment amount sought from GAIL and the % Equity stake offered to GAIL
For more information, visit https://gailebank.gail.co.in/GSUICBG/frmStartUpGAIL.aspx