Public sector oil and gas company Bharat Petroleum Corporation Limited (BPCL) has agreed to provide grants and investments to two promising startups, managed by IITM-K at Maker Village. The startups are being incubated under Project Ankur, which aims to provide financial help to new businesses that show a considerable amount of traction.
The two startups are EyeROV Technologies and Resnova Technologies.
As part of the new initiative, BPCL will facilitate the development of an underwater drone created by EyeROV Technologies and a cattle milking machine that Resnova Technologies is building to enable early detection of dairy cattle diseases.
BPCL has also signed an MoU with Kerala Startup Mission to provide aid and investments to startups from various technology domains. Additionally, it has extended its R&D facilities, expertise and network to the startups.
Commenting on the development, Saji Gopinath, CEO of Kerala Startups Mission said, “It is great that companies like BPCL are coming forward to support startups in the country. KSUM would be actively working with initiatives like Project Ankur to help startups reach market faster”
Aravind Krishnaswamy, General Manager, BPCL, said, “Compared to other states, Kerala has a very good system for the promotion of startup cultures. Projects like the KSUM and Maker Village are bringing the best out of the startups. When BPCL was looking for the best ideas to grant funds to, Kerala came into the picture and we were happy to support these deserving ideas.”