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


Kanpur Flowercycling

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

Our journey of converting waste flowers to happiness has been full of highs and lows. Our brand, Phool, was launched in September, 2018. The response received from the audience was overwhelming and our products got sold out much faster than estimated. We’re expanding to more cities across India and reaching the masses. With innovation at our heart, we are also developing organic alternates to thermocol and leather from flowers

 
 

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

Second tranche fund released to RCHobbytech Solutions Pvt. Ltd.

October 2020

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

July 2020

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

February 2019

First tranche fund released to the selected startups

October 2018

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

May 2018

MoU signed with IIM Calcutta Innovation Park

September 2017

Launching of Web Portal for inviting applications from startups

May 2017

Startup Fund of Rs 5 Cr approved by the Company

March 2017
Last updated on : 24/02/2021
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