Numaligarh Refinery Limited organizes Startup Conclave 2019 on June 8 in Guwahati

Guwahati: A Startup Conclave was organised by NRL in Guwahati to deliberate and gauge the performance, results achieved and way forward for NRL funded/shortlisted startups under the aegis of the Company’s Startup initiative iDEATION. The conclave was inaugurated on June 8 by the guest of honour B Paul Muktieh, CMD, NEDFi, in the presence of MD NRL S K Barua, Director (Technical) NRL B J Phukan along with senior officials from NRL, NEDFi and a host of entrepreneurs selected under NRL iDEATION, stated a press release.

During the course of the conclave, presentations on progress achieved and way forward were made by all the 4 startups funded in the 1st edition of NRL iDEATION 2017 viz. ParkingRhino, Automovill, Arohan Agrisciences and Deroi Tea. 8 other startup shortlisted for funding in the first phase of iDEATION 2018 also presented their startup ideas. Later, agreements were signed with 3 startups viz. Dr. A. Sarma, Vixudha Bio Product and PiCasoid for disbursement of funding on grant mode. Agreement with the remaining 5 startups shall be signed subsequently.

Speaking on the occasion, CMD NEDFi B Paul Muktieh praised NRL for its startup initiative iDEATION and hailed the role of NRL as an Angel Investor for the numerous entrepreneurs of the North-East. Speaking on the occasion MD NRL S. K. Barua said, “NRL itself is a startup that was conceived as part of the historic Assam Accord of 1985 and therefore funding promising startups in the region augurs well with the Company’s vision of providing a fillip to the development of the region. NRL has been funding startups in grant mode in its previous editions but now we are looking forward to invest in equity’. Director (Technical) of NRL B.J.Phukan said, “The fund of Rs. 10 crore earmarked for startups has been made non-lapsable so that submission and evaluation of startups ideas is a continuous process throughout the year.”

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