NRL Ideation- Funding and Signed MoU with NRL in launch function of Startup Initiative in Oil and Gas Sector
With an aim to encourage entrepreneurs and promote startup ecosystem in North East India, Numaligarh Refinery Ltd has introduced ‘Ideation’ scheme under Startup initiative in Oil and Gas sector of Govt. of India. This ideation initiative is considered as an attempt to reduce the gap in funding for NE India startups which have the potential to grow as business ventures in future. Under this initiative, the public sector has allocated a fund of Rs 10 Crore on the selected startups for a period of three years. With its focus on the emerging entrepreneurs of the North East, Ideation ticket has trigger the startup culture in the region targeted.
In its first edition of iDeation, 362 startup ideas were received. Out of which 12 ideas were shortlisted for the presentation round and finally three startups were selected for the seed funding. ParkingRhino helds its head high in informing that the company made it to the final and one of the three startups which has been granted with the 50 Lakh fund. NRL has signed MoU with ParkingRhino at New Delhi in the launch Function of Startup Initiative in Oil and Gas sector on 25th October. NRL Director of Finance Sri S K Barua exchanged the agreements with ParkingRhino in presence of Honorable Minister of Petroleum and Natural Gas, Sri Dharmendra Pradhan, CEO NITI Aayog Sri Amitabh Kant and Secretary Petroleum and Natural Gas, Govt. of India K D Tripathi
With encouragement through funding from a Public Sector Unit NRL, ParkingRhino has been able to starts its NE operation from Guwahati. The mission is to implement their smart parking solutions efficiently to Guwahati and any Tier 2/3 cities in North East which has organised parking areas.