Kozhikode, December 11, 2023 – IIMK LIVE, the incubation centre of IIM Kozhikode and Bharat Petroleum Corporation Limited (“BPCL”), a Fortune Global 500 Company & a Maharatna Energy Conglomerate, have joined hands to strengthen the growth of start-ups in the clean energy and deep tech sectors, as part of the ‘Project Ankur’ initiative of BPCL.
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Today’s Memorandum of Understanding (MoU) signing between Prof. Ashutosh Sarkar, Executive Director of IIMK LIVE, and Shri Sameet Pai, Head of Corporate Strategy, BPCL, solidifies a partnership that aims to cultivate and support innovative ideas with the potential to flourish as successful start-ups, by creating a multiplier effect that positively impacts the entire ecosystem, where IIMK LIVE will act as one of the implementation partners of this initiative and will provide incubation, mentorship, training to start-ups selected under this program.
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BPCL’s Start-Up Scheme “Project Ankur” aims to develop a supportive ecosystem that nurtures entrepreneurship in the country by backing innovative ideas and concepts that have the potential to grow into start-ups. By joining hands with IIMK LIVE, BPCL aims to provide essential incubation, mentorship, and training to selected start-ups, amplifying their potential for success.
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Speaking on the tie-up Prof. Debashis Chatterjee, Director IIM Kozhikode and Chairman IIMK LIVE added “India’s biggest contribution to the world has been knowledge, and the country has a lot to offer when it comes to innovations and initiatives. Sustainability is another critical aspect where we as an Institute are trying our best to develop a supportive ecosystem. This tie-up between IIMK LIVE and BPCL will be a massive boost to clean energy and deep tech bases start-ups and help contribute towards a more sustainable future.”
“At BPCL, we uphold the core values of ‘Innovation’ and ‘Customer Centricity and aspire to be future ready, bringing disruption in the energy sector to propel the industry towards a more sustainable future. Start-ups offer cutting-edge technology, novel perspectives, agile mind-sets, and foster an entrepreneurial culture. Therefore, this collaboration with IIMK LIVE aims to identify and form partnerships, nurturing high quality and potential start-ups,” stated Shri Sameet Pai, Head (Corporate Strategy), BPCL.
Through ‘Project Ankur,’ BPCL has already funded over 30 impactful start-ups, including companies like M/s Genrobotics, M/s Detect Technologies, M/s Anthill Creations, M/s Cygenica, and M/s EyeROV. These success stories stand as testament to the transformative power of innovation, bolstered by dedicated support.
About IIMK LIVE
IIMK LIVE is a business incubator and entrepreneurship development centre of IIM Kozhikode set-up with the support of Department of Science and Technology, Government of India. Established in June 2016, the centre is envisioned to function as a business incubator with a purpose of creating a National Centre of Excellence that promotes innovation, new business venturing and entrepreneurship.
About Bharat Petroleum Corporation Ltd. (BPCL)
Fortune Global 500 Company, Bharat Petroleum is the second largest Indian Oil Marketing Company and one of the integrated energy companies in India, engaged in refining of crude oil and marketing of petroleum products, with a significant presence in the upstream and downstream sectors of the oil and gas industry. The company attained the coveted Maharatna status, joining the elite club of companies having greater operational & financial autonomy.
About Indian Institute of Management, Kozhikode The fifth IIM to be established by Govt. of India in 1996, IIMK started its academic journey in 1997 with its flagship Postgraduate Program (PGP). The Institute is on a high growth trajectory today, offering widest range of academic programs in the field of management education. These include Doctoral Programme in Management (PhD), Executive PG Programmes, Management Development Programmes and Faculty Development Programs. IIMK set up a Satellite campus at Infopark, Kochi, in 2013 dedicated to Executive Education. IIMK has also the unique distinction of launching a PhD (Practice Track) programme for working professionals besides bringing in new dynamic courses like one-year Post Graduate programme in Business Leadership (2019) MBA in Finance and MBA in Liberal Studies & Management (2020). The institute is also home to IIMK LIVE a first-of-its-kind startup incubation programme, the Indian Business Museum and six other Centres of Excellences encompassing diverse areas. IIMK is ranked 3rd as per NIRF India Rankings 2023: Management. The institute also made its global debut for its flagship MBA and EMBA programme in the 2020/21 QS World University Rankings. In 2023, IIM Kozhikode also broke into Top-100 in Financial Times Ranking for Open Enrollment Programme (Rank #72) and Masters in Management (MBA) (Rank #77). Institute is globally accredited by EQUIS (EFMD) and AMBA (UK).
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