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.
How to Apply
Interested applicants must apply online via given website.
Eligible Country: India
For more information, please visit Balmer Lawrie Start-up Fund.