GAIL launches fresh round to bankroll start-ups

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Public sector natural gas giant GAIL (India) Limited has announced a new scheme to invest in start-ups operating in key focal areas through its initiative ‘Pankh’. </p>
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GAIL has now opened a fresh round for solicitation of investment proposals from the start-ups focusing mainly on natural gas, petrochemicals, energy, project management, bio-manure marketing, nano materials, IoT, data mining, environment, health and social, the company said in a statement.</p>
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Further details of focus areas are available on the GAIL website under GAIL PANKH Section. Start-ups that are interested in equity investment from GAIL can apply through link ‘GAIL PANKH’ on GAIL’s website https://gailonline.com. The solicitation round is open from March 30, 2021 to May 30, 2021.</p>
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‘GAIL's initiative is driven by "Start-Up India’ — a flagship project of the Modi-administration. It intends to build a strong eco-system for nurturing innovation and start-ups in the country, to derive sustainable economic growth and generate employment opportunities. Government policies are also encouraging start-ups by providing fiscal incentives.</p>
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“Our Mission for Start-Up Initiative is to Identify, Invest and Nurture Start-Ups that can become successful companies in the long run and provide profitable returns from this diversification,” the company said.</p>
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GAIL had earlier carried out four rounds of solicitation and has made investments in around 30 start-ups operating in various areas such as renewable and alternative energy.</p>
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GAIL is an innovation and technology driven company operating in the field of Natural Gas and its derivatives. In order to stay competitive, it is required to keep abreast with the latest technological developments in core businesses.” Investment in Start-Ups in our Core Areas is likely to play an important role in our quest to remain competitive,” the company said.</p>