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Balmer Lawrie Startup Fund

'Startup India', a flagship initiative of the Government of India, was launched by the Hon'ble Prime Minister Shri Narendra Modi in 2016. The initiative aims at fostering entrepreneurship and promoting innovation by creating a healthy ecosystem for the startups to prosper and grow. In line with this noble initiative of the Government, Balmer Lawrie Start-Up Fund was launched in 2017 focused on nurturing innovation in chosen business areas. The scheme aims at fostering innovations which can be a game changer in the industry or be a significant value provider.
During Round 1 startup fund program, the two startups selected by Balmer Lawrie were not only supported through funds but also nurtured through best in-class incubation program at IIM Calcutta Innovation Park. They were provided with work space, knowledge resources, mentoring, networking, customer connect, investor connect etc. The startups were able to make noteworthy impact in their respective areas and not only earned awards, accolades and recognition but were also able to attract investment proposals from Angel Investors and VC firms. One of them featured in the 2018 Forbes 30 under 30 start-ups and received funds from the likes of Social Alpha, Draper Richard Kaplan Foundation and reputed angel investors.
Encouraged by our success in nurturing innovative ideas and ensuring that the ideas gets translated into successful businesses, Balmer Lawrie launched the Round 2 of Startup Fund program in collaboratiom with IIM Calcutta Innovation Park in February 2021 with the objective of creating a vibrant ecosystem aimed at fostering entrepreneurship and promoting innovation. Balmer Lawrie has now launched the Round 3 of Startup Fund program. Balmer Lawrie leadership has been driving the startup fund program and has provided all necessary support to nurture the startups to the extent possible with funds, office space, knowledge resource, mentors, networking, customer connect, investor connect etc. Balmer Lawrie has also actively participated in other startup hunts like Eureka (IIT-B) to target potential startups to get them onboard for the upcoming startup hunt program.
An MOU was signed between Balmer Lawrie & Co. Ltd. and IIM Lucknow Enterprise Incubation Centre for selection and incubation of Startups

BL-IIML EIC Collaboration

Balmer Lawrie & Co. Ltd. signed an MOU with IIM Lucknow Enterprise Incubation Centre (IIML EIC) on 6th February 2024 for incubation of Start-ups. Balmer Lawrie will be working closely with IIML EIC across various Startup initiatives, ensuring a strong support to Startups and providing a solid boost to the overall economic growth of the country thereby contributing to achieving the goal of Atmanirbhar Bharat.
IIML EIC has collaborated with various PSUs, Banks, MNCs as an incubation partner and has a robust structured framework of accelerator program, seed capital, corporate venture capital funds, smart co-working space, corporate market access, mentoring and training programs to foster the growth of Startups.

Startup Fund program Round 5

As part of Balmer Lawrie’s Startup Hunt Round 5 which was launched in March 2024, shortlisted Startups presented to the jury members including Directors of Balmer Lawrie, IIM Lucknow EIC members and Industry Experts during the final pitching round at the Balmer Lawrie House in Kolkata. Balmer Lawrie had launched the Startup Hunt Round 5 in collaboration with IIM Lucknow EIC as its incubation partner.

Startup Fund program Round 4

Balmer Lawrie launched the Round 4 Startup Fund program in association with IIM Calcutta Innovation Park (the incubation center under the aegis of Indian Institute of Management, Calcutta) with the objective of creating a healthy and vibrant ecosystem conducive for nurturing entrepreneurship and promoting innovation.

The Balmer Lawrie Startup Fund Round 3 Journey

March 2023
Journey

Sign of Shareholders Agreement with selected Start up

July 2022
Journey

First and final pitching sessions of the qualified startups completed by Balmer Lawrie and IIM-CIP jury members. Directors and C&MD of Balmer Lawrie were also a part of the jury team

June 2022
Journey

Initial screening, evaluation and shortlisting of startups done by IIM-CIP for the 1st round of pitching

April 2022
Journey

Receipt of applications closed.

March 2022
Journey

Launch of Start Up Hunt round 3

Success Story The Balmer Lawrie Startup Fund Round 3 Journey

(L) Gaurav Sandhya, CFO (R) Azam Shaikh, CEO?

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A mobile & web-based garage management solution to improve B2B supply chain at garages with data driven intelligent analytics and economies of scale. It provides solutions in 32 states and union territories in India and expanding in South East Asia.

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Balmer Lawrie signed an MOU with IIM Calcutta Innovation Park in February 2021 for taking forward its Round 2 Startup Fund program
Jury members from IIM-CIP and Balmer Lawrie during the final screening

Startup Fund program – Round 2

Balmer Lawrie launched Round 2 of the Startup Fund program in association with IIM Calcutta Innovation Park (the incubation centre under the aegis of Indian Institute of Management, Calcutta) with the objective of creating a vibrant ecosystem aimed at fostering entrepreneurship and promoting innovation.

The Balmer Lawrie Startup Fund Round 2 Journey

August 2021
Journey

Due diligence in progress by IIM-CIP

July 2021
Journey

First and final pitching sessions of the qualified startups completed by Balmer Lawrie and IIM-CIP jury members. Directors and C&MD of Balmer Lawrie were also a part of the jury team

June 2021
Journey

Initial screening, evaluation and shortlisting of startups done by IIM-CIP for the 1st round of pitching

April 2021
Journey

Receipt of applications closed. 1400+ applications received

March 2021
Journey

Commencement of receipt of applications for the startup fund

Feb 2021
Journey

Balmer Lawrie signs an MOU with IIM Calcutta Innovation Park for its Round 2 Startup Fund program

Startup Fund program – Round 1

An MOU was signed between Balmer Lawrie and IIM Calcutta Innovation Park (IIM-CIP) for selection and incubation of Start-ups on 14th September 2017. Post evaluation, promising startups like Kanpur Flowercycling Pvt. Ltd. and RCHobbytech Solutions Pvt. Ltd. were selected, nurtured and incubated by Balmer Lawrie in collaboration with IIM-CIP during Round 1 of the Startup Fund program. The experience of Balmer Lawrie, a diversified PSE coupled with skills and expertise of a premier knowledge institution IIM-CIP helped in achieving desired objectives of this startup program
Ankit Agrawal

Kanpur Flowercycling

Kanpur Flowercycling pioneered the technology of flowercycling to transform temple flowers into organic alternatives by engaging marginalised women who handcraft it.

A mobile & web-based garage management solution to improve B2B supply chain at garages with data driven intelligent analytics and economies of scale. It provides solutions in 32 states and union territories in India and expanding in South East Asia.

(L) Ritesh Kanu (R) Biswajit Dey

RCHobbytech Solutions Pvt. Ltd. (Drones Tech Lab)

RCHobbytech, a solution designer and system integrator in the field of aerial surveillance industry, made a mark in providing customized geospatial solutions through unmanned systems.

We believe that the solutions developed by us could have humongous applications in varied industries. Our solutions have applications in industries ranging from agriculture to defense; disaster management to anti theft applications in various industries. The list is a long one. Certain doubts in aspect of financials to meet the growing demands did crop up but hard work pays off and funds received by us via Balmer Lawrie Start-up Fund helped us to expand the team size which in turn aided in increasing our clientele and expansion of our product line.

The Balmer Lawrie Startup Fund Journey

October 2020
Journey

Second tranche fund released to RCHobbytech Solutions Pvt. Ltd.

July 2020
Journey

Exited from Kanpur Flowercycling Pvt. Ltd. through sale of share to Angel Investors

February 2019
Journey

Kanpur Flowercycling Pvt. Ltd. and RCHobbytech Solutions Pvt. Ltd. showcased their products at the Balmer Lawrie stall in Petrotech 2019

October 2018
Journey

First tranche fund released to the selected startups

May 2018
Journey

Shareholder subscription and shareholder agreement signed with founders of RCHobbytech Solutions Pvt. Ltd. and Kanpur Flowercycling Pvt. Ltd.

September 2017
Journey

MoU signed with IIM Calcutta Innovation Park

May 2017
Journey

Launching of Web Portal for inviting applications from startups

March 2017
Journey

Startup Fund of Rs 5 Cr approved by the Company

Innovation Areas

Balmer Lawrie invites applications from start-up entities pursuing innovation in areas having close synergy with Balmer Lawrie’s businesses as follows:

Focus areas of the Start-Up Scheme

  • Logistics Services including Transportation, Freight Forwarding, Container Freight Stations, Cold Chain Logistics and 3 PL;
  • Travel & Hospitality, Ticketing, Tours & Vacations;
  • Greases & Lubricant;
  • Industrial Packaging solutions
  • Chemicals including Leather, Textile and Agro chemicals
  • Refinery & Oil Field Services
  • Other areas such as Renewable Energy, Electric Vehicles, Waste to Wealth

The innovation could be in terms of products, services or systems and processes including IT based interventions such as Data Management, Analytics, Machine Learning, Artificial Intelligence, IOT, Robotics, Blockchain Technology etc. Such offerings should have significant impact or value addition potential in the above mentioned business activities.

Eligibility

Who can apply

The entity should be a startup recognized by DPIIT and applicant must be a citizen of India represented individually or as a team. The entity is in the early revenue stage or has a prototype / working model.

An entity shall be considered as a Startup:

  • Upto a period of ten years from the date of incorporation / registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India.
  • Turnover of the entity for any of the financial years since incorporation / registration has not exceeded one hundred crore rupees.
  • Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
  • An entity formed by splitting up or reconstruction of an existing business shall not be considered as ‘Start-up’.

General Guidelines

Important information for applicants

  1. Balmer Lawrie & Co. Ltd. has collaborated with IIM Calcutta Innovation Park (IIM-CIP) for the National Level Startup Hunt Program. IIM-CIP shall receive all applications on behalf of Balmer Lawrie & Co. Ltd. and a dedicated webpage has been hosted by IIM-CIP for receiving online application from startups. Alternately, start-ups applying through the www.balmerlawrie.com website would be redirected to the IIM-CIP once they click the 'Apply Now' button.
  2. Eligible applicants should fill in the online application form available in the 'Apply Now' section.
  3. An entity can submit more than one proposal having unique scope, but only one may be selected based on evaluation.
  4. Start-ups presently being incubated by institutes approved by the Central Government for such incubation, are also eligible to participate and if selected must submit a no-objection certificate from the concerned incubating institute.
  5. An applicant, who has applied for similar schemes of any CPSE elsewhere and gets selected, should immediately intimate Balmer Lawrie & Co. Ltd. about such selection as multiple sourcing of fund under the similar scheme is not allowed.
  6. Bought out technologies would not be entertained.
  7. Upon successful innovation and test marketing, the production / required infrastructure should be set up within India.
  8. The startup fund is aimed at fostering entrepreneurship and promoting innovation by creating a healthy ecosystem for the startups to prosper and grow, and it should not in any way be considered as a Research Fellowship for supporting research of Ph.D. students or any other such academic research.
  9. Last Date for receipt of online application is February 28, 2022. The Qualification Credential will be as per the criteria set by IIM-CIP and the documents in support should be furnished as and when required.

Selection Process

Two stage evaluation process

A two stage selection process would be followed for finalization of startup firm

Applicants would be shortlisted by a constituted committee based on their application. While shortlisting, the committee would look into the following aspects:

  • Uniqueness of the Innovation Idea
  • Feasibility of the Idea
  • Scope of Innovation
  • Social, Environmental and Economic Impact
  • Revenue / Business Model
  • Robustness of the business plan along with timelines
  • Relatedness of the innovation idea with Balmer Lawrie’s line of businesses
  • Profile of Team Members
  • Revenue & Expenditure Plan
  • Presentation & Personal Interaction

Benefits

A corpus of Rs 3 Cr is earmarked for the Round 3 Balmer Lawrie Startup Fund Program. Apart from support in terms of capital, the selected applicant(s) / start-up would be incubated by Balmer Lawrie and support in terms of infrastructure, mentor, knowledge resource, customer connect, investor connect etc. shall be provided to the extent possible
The duration of the support is 1-3 years. However, the reasonability of the time frame would be judged based on scope and complexity of the project.

Contact Us

In case of any query, you may reach out to us at the below contact details:

Abhiroop Dutta

Executive Assistant to Director [Service Business]
Balmer Lawrie & Co. Ltd
21 N S Road
Kolkata – 700001
Email Id: dutta[dot]a[at]balmerlawrie[dot]com
Landline No.+91 33 22225363

Apply Now For StartUp Fund