Press Release 2019
10.01.2020
GAIL invites proposals to fund Start-Ups working in renewable and alternate energy sources
New Delhi, January 10, 2020: : In a bid to encourage Start-Ups operating in the area of renewable and alternate energy sources like Compressed Bio Gas production, GAIL (India) Limited has opened its 4th round of applications for Solicitation of Investment Proposals from Start-Ups operating in the sphere.
Speaking on the occasion, Dr. Ashutosh Karnatak, C&MD, GAIL said “we are enthused to support the Start-Up India Mission on the clarion call of Hon’ble Prime Minister Shri Narendra Modi. The role of young people in shaping the world's economy is clear. India’s young generation of entrepreneurs have the potential to develop innovative ideas into successful business ventures. I hope that Start-Ups 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.”
Considering the vast biomass resources in the country and Government’s special emphasis on its gainful utilization, GAIL plans to invest in Start-Ups operating in this high growth area. GAIL’s 4th round for Solicitation of Investment Proposals from Start-Ups operating in the Area of Renewable and Alternate Energy Sources like Compressed Bio Gas production shall remain open till January 24, 2020. The Start-Ups looking for an equity investment from GAIL can apply online on the website www.gailonline.com.
GAIL had launched its ambitious Start-Up initiative ‘Pankh’ in July, 2017 to invest in promising Start-ups. GAIL has made investments in 24 Start-Ups operating in various areas so far.