GAIL (India) has significantly increased its Start-up Investment Fund, raising the investment corpus from ₹100 crore to ₹500 crore.
The strategic expansion aims to foster innovation, support emerging businesses, and accelerate the growth of India’s start-up ecosystem.
Focus on Key Sectors
The enhanced fund will be used to nurture promising start-ups across multiple sectors. It will focus particularly on clean energy, renewables, energy storage, electric mobility, and digital transformation.
By backing innovative ventures, GAIL aligns its investment strategy with the government’s vision of a self-reliant India.
Leadership’s Commitment to Innovation
Sandeep Kumar Gupta, Chairman and Managing Director of GAIL stated, “We are enthused to support the Start-Up India Mission on the clarion call of Prime Minister Narendra Modi. By increasing our start-up investment fund to ₹500 crore, we aim to provide greater financial and strategic support to entrepreneurs working on breakthrough ideas. This initiative underscores GAIL’s commitment to fostering an environment of innovation and sustainability in India’s energy and technology sectors. We expect that the start-ups funded by GAIL may turn into successful companies and help in realizing India’s vision of becoming a ‘Start-up Nation.’”
‘Pankh’ Initiative: A Legacy of Investment
GAIL launched its ambitious start-up initiative, ‘Pankh,’ in July 2017 to invest in high-potential start-ups.
So far, the company has invested in 36 start-ups. These start-ups operate in diverse fields, such as compressed biogas (CBG), electric mobility, the Internet of Things (IoT), logistics, and environmental solutions.
As reported by businessworld.in, GAIL aims to empower more entrepreneurs with the increased investment fund. The company also seeks to drive technological advancements and contribute to India’s journey toward innovation and sustainability.
