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Rs. 50 Crore OIL Start-up fund in oil and gas sector

Oil India Limited (OIL) has set up an OIL Start-Up fund of Rs 50 crore to encourage new "out of the box" ideas related to the oil and gas sector, particularly in the Northeast. 
●    The oil exploration major's chairman-cum-managing director Utpal Bora today said in a press conference that the initiative was in line with the Centre's 'Start-up India' initiative. 
●    The initiative was to create an ecosystem that was conducive for growth of start-ups in the oil and gas sector, which has a huge scope for application of technology-enabled ideas.
●    The government-run company also plans to create a dedicated website for its Start-Up initiative, inviting applications with project ideas, besides inviting through newspaper advertisements in the region with special attention given to ideas from students in technical institutions and universities.