L-INCUBATOR, IIM Lucknow and HPCL entered into a MoU to work together for incubating innovative ideas and business Start-Ups in the Energy Sector. The signing ceremony held during Startup Pitch Day on 22nd July 2017 at the IIM Lucknow Enterprise Incubation Center (L-INCUBATOR) of IIM Lucknow, Noida Campus.

The Start-Ups made presentations to the Steering Committee, constituted for this purpose comprising of Mr Rakesh Misri, Executive Director (HPCL), Mr. Sanjay Kumar, GM (HPCL), Mr. Shantanu Mohinta, Sr. Manager (HPCL), Prof. M. Akbar, MD L-INCUBATOR, Mr. Girish (YourNest), Mr. Shailesh (SEEDFUND.in), Mr. Dhianu (Investor), Mr. Sameer ( India Juris), Mr. Arun Agarwal ( investor) and Mr. S Rounaque Mustafa, VP, L-Incubator IIM Lucknow.

L-INCUBATOR, IIM Lucknow had received nearly 150 applications. After two rounds of screening, 12 applicants were shortlisted and invited for the Pitching Session. The proposals were in the areas of Artificial Intelligence, Data Analytics, IoT, Solar Energy, etc. which were presented during the pitching session. It is envisaged that the selected Start-Ups shall be SEED invested and incubated at L-INCUBATOR, IIM Lucknow.

Speaking on the occasion, Executive Director (HPCL) expressed his delight to see the quality applicants and innovative startup ideas and briefed about HPCL Start-Up Scheme. He said that HPCL is committed to foster new ideas in energy sector and promote entrepreneurship among the Indian youth. He emphasized on the significance of the MoU between both prestigious organizations for promoting startups.

Professor M. Akbar thanked and appreciated the initiative of HPCL for bringing the HPCL Start-Up program to L-incubator, IIM Lucknow and said, “This agreement will unlock the unlimited and undeniable potential of the startup ecosystem in India and translate into major impact for the economy as a whole”.