IIM Lucknow Incubator ties up with HPCL to work in energy sector

MUMBAI: IIM Lucknow Enterprise Incubation Center ( L-Incubator), IIM Lucknow and HPCL have signed an MoU to work together for incubating innovative ideas and business startups in the energy sector.

At the institute’s Startup Pitch Day on July 22, the startups made presentations to the Steering Committee, constituted for this purpose comprising Rakesh Misri, executive director (HPCL), Sanjay Kumar, GM (HPCL), Shantanu Mohinta, senior manager (HPCL), professor M. Akbar, MD L-Incubator, among others.

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. The selected startups are likely to be seed funded and incubated at L-Incubator.

“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,” said M Akbar in a statement.