GAIL started investing in startups under its Pankh initiative in July 2017. Its upcoming equity investments will be limited to 20% of a startup’s total equity, it said.
It noted that will only consider proposals for funding from entities that are registered as startups by the Indian Department for Promotion of Industrial and Internal Trade (DPIIT). Individuals can also apply, but they must register as companies and secure recognition as “startups” from the DPIIT before submitting their proposals.
The solicitation round will be open until July 31.
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