National Research Development Corporation (NRDC), has signed an MoA with Indian Oil Corporation Limited (IOCL), Faridabad for Implementation of IOCL Startup Scheme on 30th March 2019.
IOCL created a revolving fund of Rs. 30 Crores for each round of investment. In the first round, 11 startups were funded and implemented by NRDC. IOCL signed the MoA with NRDC again for the second found of investments in the IOCL startup scheme wherein about 17 startups were identified. Under this MoA NRDC provides incubation support.
This MoA signed by Dr. H. Purushotham, CMD, NRDC and Dr. S.S.V. Ramakumar, Director, IOCL during the glittering inaugural function of NRDC Innovate India – 2019 on 30th March, 2019 at EDII, Ahmedabad in presence of Chief Guest, Dr. V.K. Saraswat, Member, NITI Aayog; Dr. Anju Sharma, IAS, Principal Secretary, Higher Technical Education, Govt. of Gujarat, Avantika Singh Aulakh, IAS, Commissioner, Technical Education & CEO, Gujarat Knowledge Society, Govt. of Gujarat, Dr. Yatin Karpe, Cabinet Chair, AUTM, Pennsylvania, USA, B.N.Sarkar, Scientist `G’, DSIR, Ministry of Science & Technology, govt. of India and many more.