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 has now launched the Round 2 of Startup Fund program and has collaborated with IIM Calcutta Innovation Park with the objective of creating a vibrant ecosystem aimed at fostering entrepreneurship and promoting innovation. Balmer Lawrie leadership has been driving the start-up 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 is also actively participating in other startup hunts like Eureka (IIT-B) to target potential startups to get them onboard for the upcoming startup hunt program.