New Delhi: GAIL (India) Limited has announced a significant increase in its Start-up Investment Fund, increasing the corpus to be invested in Start-Ups from Rs 100 crore to Rs 500 crore. This strategic move is aimed at fostering innovation, supporting emerging businesses and accelerating the growth of India’s start-up ecosystem.
The increased fund will be deployed for nurturing promising start-ups across various sectors, with focus on clean energy, renewables, Energy Storage, Electric Mobility and digital transformation, etc. GAIL’s commitment to back innovative ventures aligns with the government’s vision of a self-reliant India.
Speaking on the development, GAIL's Chairman & Managing Director (CMD) Sandeep Kumar Gupta said “We are enthused to support the Start-Up India Mission on the clarion call of Hon’ble Prime Minister Narendra Modi. By increasing our start-up investment fund to Rs 500 crore, we aim to provide greater financial and strategic support to entrepreneurs working on breakthrough ideas. This initiative underscores GAIL’s commitment in fostering an environment of innovation and sustainability in India’s energy and technology sectors. We expect that the Start-Ups funded by GAIL may turn into successful companies and help in realizing India’s vision of becoming a ‘Start-up Nation’”.
GAIL had launched its ambitious Start-Up initiative ‘Pankh’ in July’ 2017 to invest in promising Start-ups. Till date, GAIL has made investments in 36 Start-Ups operating in various areas including CBG, Electric Mobility, IoT, Logistics and Environment etc. Further details about GAIL Pankh are available on https://gailebank.gail.co.in/GSUICBG/index.aspx
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