Oil PSU GAIL Launches $7.7 Mn Fund ‘Pankh’ For Startup Entrepreneurs

Delhi-based oil PSU Gas (India) Limited or GAIL has launched an initiative ‘Pankh’ (wings) to nurture startup entrepreneurs. GAIL has set aside a fund corpus of $7.7 Mn (INR 50 Cr) to help startup entrepreneurs realise their potential.

With ‘Pankh,’ the oil PSU will invest in selected startups and provide them mentoring in the company’s core areas such as natural gas and its derivatives. GAIL has also launched a separate web portal where startups can submit their proposal. The portal is accessible through the oil PSU’s website until August 16, 2017.