Selection Process

These shall be screened for shortlisting by a Level-1 (Online Preliminary Screening) through a structured evaluation matrix. The shortlisted proposals of Level-1 shall be further reviewed by a Level-2 committee through presentations and personal interactions with the applicants.
The selection criteria are:

A. Basis Eligibility

B. Shortlisting

C. Evaluation

D. Approval

Basic Eligibility
  1. The Start-Up Proposal should be in Key Areas defined by Oil and Gas PSUs.
  2. Accept applications from individual/Private Company/LLP/Partnership Firm. Proposals shall be considered for funding only from those entities that are considered as a Start-Up (as per Department of Industrial Policy & Promotion- DIPP) / DPIIT. If selected, individual candidate has to form a startup and take approval from DIPP/DPIIT
  3. The annual turnover of the start-up is not more Rs. 25 crores
  4. Only start-ups developing a new product or service or process
  5. It is working towards Innovation, Development, Deployment or Commercialization of new Products, Processes or Services driven by Technology or Intellectual Property.
  6. In addition, the following Eligibility Criteria should also be met: The Start-Up should not have been blacklisted by any Governmental 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.
Shortlisting:
Evaluation
Approval

O&G StartUp Initiative

Oil & Gas PSUs announces 'A Common Platform for Startup Selections'

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