Source: News Bharati English29 Nov 2016 09:58:34

New Delhi, November 29: Union Petroleum Minister Dharmendra Pradhan inaugurated a workshop for creating an innovation ecosystem for start-ups in the oil and gas sector, on Monday was held in New Delhi.
"The oil and gas public sector undertakings (PSUs) have allocated Rs 300 crore for Start Ups and their detailed action plans are in the advanced stages of preparation," Pradhan said. He urged all the participating companies across the hydrocarbons value chain to work towards creation of a robust start-up ecosystem in oil and gas sector in India.

Many of the PSUs are looking to tie up with IITs and IIITs for incubation facilities and initial hand holding. Prof Wali from, IIT Delhi, Prof Atrey from IIT, Bombay, Mr. Abhishek from 91springboard, an incubation centre for Start Ups and 12 start-Ups companies shared their experiences.

Embeded Object'Start-Up India' initiative, launched by Prime Minister Narendra Modi, aims at fostering entrepreneurship and promoting innovation.

The Ministry is building pathways through policy and investment opportunities, Pradhan said. Dharmendra Pradhan, was the Chief Guest on the occasion. Amitabh Kant CEO, NITI Aayog delivered the Keynote Address. The workshop was attended by experts in this area, the CEOs and officers of the Oil and Gas companies and the officers of the Ministry of Petroleum and Natural Gas.