- GAIL India has opened its fourth round of applications for solicitation of investment proposals from startups operating in renewable and alternate energy space.
- The proposal submission window will remain open till January 24, 2020.
- GAIL had launched its ambitious startup initiative ‘Pankh’ in July 2017, to invest in promising startups.
Public sector company GAIL India has invited proposals to fund startups working in renewable and alternate energy space.
The company has opened its fourth round of applications for solicitation of investment proposals from startups operating in this space, GAIL India said in a statement on Friday. The proposal submission window will remain open till January 24, 2020.
The public sector company said that considering the vast biomass resources in the country and the government’s special emphasis on its gainful utilisation, GAIL planned to invest in startups operating in this high growth area.
Ashutosh Karnatak, chairman and managing director of GAIL, said: “India’s young generation of entrepreneurs have the potential to develop innovative ideas into successful business ventures. I hope that startups funded by GAIL shall turn into successful companies in the long-run and help in realization of nation’s vision of becoming a gas based economy.”
GAIL had launched its ambitious startup initiative ‘Pankh’ in July 2017, to invest in promising startups. GAIL has made investments in 24 startups operating in various areas so far.
Source: cnbctv18
