Applications Open for Balmer Lawrie Start-up Fund under Start-up India Initiative!

Deadline: 26 June 2017

Applications are currently open for Balmer Lawrie Start-up Fund launched by Balmer Lawrie & Co. Ltd under Start-up India scheme focused at nurturing innovation in its chosen business areas. The scheme aims at fostering innovations which can be a game changer in the industry or be a significant value provider.

Depending upon the scope of the innovation, Balmer Lawrie would nurture and support the start-up to the extent possible through seed capital, space, available R&D infrastructure, mentoring, regular follow-up and hand holding, industry and academia connect as well as market linkages.

Innovation Areas

Specialty Chemicals including Leather Chemicals
Waste to wealth by utilizing by-products, scrap and effluents preferably with respect to Balmer Lawrie businesses
Disruptive innovations in Industrial Packaging
Disruptive innovations in Lubricants and Greases
IT innovations in Logistics, Travel & Vacations business
Any other innovation in the area of manufacturing and service businesses preferably related to Balmer Lawrie

Eligibility Criteria

This scheme is open to all including already existing start-ups.
For existing start -ups to be eligible for the grant and other support, the firm should be an entity, either a Private Limited Company (under The Companies Act, 2013) or a Registered Partnership Firm (under The Indian Partnership Act, 1932) or a Limited Liability Partnership (under The Limited Liability Partnership Act, 2008) and should meet the following criteria:
- Incorporated or Registered in India not prior to five years from the date of application
- Annual turnover not exceeding INR 25 Crore in any of the preceding financial years
- Working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property
- Entity is not formed by splitting up, or reconstruction of a business already in existence
The start-up firm shall be eligible for tax benefits only after it has obtained certification from the Inter-Ministerial Board, set up for such purpose.
Applicants should be citizens of India (individuals or teams) including NRIs interested to work in India and should be fulfilling the stated eligibility criteria.
Start-ups presently being incubated by institutes approved by the Central Government for such incubation, are also eligible to participate provided they submit a no-objection certificate from the concerned incubating institute.