Numaligarh Refinery Limited has always been very pro-active when it comes to giving back to the society and so it is not surprising that they came up with an initiative to encourage local youth to venture into the world of start-ups. Named Ideation, the main objective is to provide seed funding, early stage funding and scale up funding for local entrepreneurs.
It all started back in 2017. A theme was chosen and local entrepreneurs had to send in their submissions to be selected for the grand prize. They even set up an official website for online submission. As expected they receive hundreds of entries from talented entrepreneurs. After the first round of evaluation, 12 start-up ideas were shortlisted for the presentation round. In the end, three start-ups were shortlisted for funding namely Parking Rhino and Arohan Agri Sciences and Automovill Technologies Pvt. Ltd.
Each start-up showcased potential for growth. Parking Rhino founded by Tridib Konwar and Mriganka Deka is one of the best solutions for mobile based parking management solution. They have an app for consumers which can be used to find parking availability in the city, and also has a software suit which can digitize the entire parking solution and help track parking efficiently. Arohan Agrisciences founded by Anabil Goswami and Arindom Hazarika are focussed on developing and using bamboo and water hyacinth plastic composites to make low cost, modular and flood resistant enclosures for livestock suited for Northeast India. With roots in Assam, Automovill has a Pan India presence. It was started in 2015 by Mridu Mahendra Das and Chinmay Baruah in Bangalore. They are an aggregator for car servicing centres to provide a hassle free, transparent and economic car service to its customers. Automovill’s has an android app and a website which can be used by customers to book for any kind of car service, repair and accessories requests.
The second edition was announced in February 2018. Several start-up boot camps were organised in college campuses as part of the initiative.
Presently, NRL is hosting its latest edition where the theme is ‘AI/ML Based Solution for Refinery Material Balance’. The last date of submitting proposals is 21st January. With the pandemic slowing down the economy, it definitely is a good idea for such initiatives to continue so that talented youth can put their skills and intelligence to good use. What more? This time around, NRL will be shelling out INR 10 lakh as prize money for the start-up who makes it to the final. Start-ups from across the region, and across the country, can apply for this challenge. You can find more info about the contest and the rules of applying on their website (www.ideation.nrl.co.in). You can also check out their Facebook and Twitter page for updates.