Corporate VC Startup Engagement Program [CSEP]

A joint corporate venture capital (CVC) Initiative by

Interested Startups should apply here!

on or before 30 November 2023
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About Program

Corporate VC Startup Engagement Program [CSEP]

Commercialisation &

Scaleup Support by IIML EIC

Market access & funding

support by Oil India Limited

Opportunity to achieve

product-market fit with the support of industry expert

industry experts
Access to an exclusive

startup tool kit worth INR 3.5 Cr

last date apply
Last Date to Apply

30 November 2023.

orientation starts
Duration of 24 months starting

from March/April 2024


Frequently Asked Questions

Answer :
  • Oil India Limited (OIL) is a fully integrated Exploration & Production company in the upstream sector, with origin dating back to the glorious year (1889) of oil discovery in India. A Maharatna Company, OIL is a state-owned enterprise of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas and is the second largest national oil and gas company in India.

  • Oil India Private Limited was incorporated on 18th February 1959, to expand and develop the newly discovered oil fields of Naharkatiya and Moran in the North-Eastern region of India. In 1961, it became a joint venture company of Government of India and Burmah Oil Company Limited, UK. In 1981, OIL became a wholly owned Government of India enterprise.

  • The Authorized Share Capital of the Company is Rs. 2,000 Crore. The Issued, Subscribed and Paid Share Capital of the Company is Rs. 1,084.41 Crore comprising of 108.44 crore shares of Rs. 10 each. At present, the Government of India, the Promoter of the Company is holding 56.66% of the total Issued & Paid-up Capital of the Company. The balance 43.34% of the Equity capital is held by Public and others including Bodies Corporate, Mutual Funds, Banks, FPIs, Resident Individuals etc. OIL is the first oil & gas company to list its bonds on International Securities Market, London Stock Exchange in 2019
Answer :
  • IIM Lucknow Enterprise Incubation Centre “IIML EIC” is a not-for-profit organization, registered as a section 8 company under the Companies Act, 2013 established in 2013, by Indian Institute of Management Lucknow (IIML) at its Noida Campus to nurture entrepreneurial talent across the nation. Govt of Uttar Pradesh supports the Centre under UPIT Start-up Policy and the Government of India under NSTEDB, Department of Science & Technology or DST. IIML EIC is sector agnostic, focused on providing commercialization and growth support to start-ups for faster growth and scale.

  • IIML EIC is focused on providing speed and faster growth to new ventures for successful commercialisation of technology/product through a combination of Incubation / Acceleration programs, Seed Capital, Corporate Venture Capital (CVC) Fund, Smart Co-working Spaces, Corporate Market Access, Mentoring and Training programs.

  • IIML EIC touches base and supports more than 2500+ Startups annually with a cumulative valuation of more than INR 1500+ Cr from its Center.
Answer :
  • A CVC (Corporate Venture Capital) fund refers to an investment vehicle formed by a corporation to invest in startups or other funds. In recent years, there has been a notable surge in the number of corporates establishing specialised investment vehicles, which has resulted in increased activity within the Indian startup ecosystem.

  • With Strong Support from the Government of India to promote Innovation and Entrepreneurship, several Public Sector Enterprises have joined the initiative. Recently, OIL INDIA Limited [OIL], a 13th Maharatna Company under Central Public Sector Enterprises in India joined hands with IIM Lucknow Enterprise Incubation Center [IIML EIC] a not-for-profit company hosted by IIM Lucknow at its Noida Campus, to launch its exclusive Startup Engagement Program under Corporate Venture Capital Initiative.

  • This is a unique program where a Public Sector Enterprise of Govt of India and an Innovation Ecosystem Expert have joined hands to support and promote Startups in India. Such initiatives bring various benefits to Startups from different categories, ensuring an assured and exponential growth to startups in India.
Answer :
  • Shareholding by Indian promoters in the start-up should be at least 51% as per the Companies Act, 2013 and SEBI (ICDR) Regulations, 2018, at the time of application to the Company for the scheme

  • Registered Startup by GoI holding DPIIT Number awarded by Department for Promotion of Industry And Internal Trade, Government of India.

  • Startups at Idea Stage backed up with rigorous research, validation and a strong team, MVP and Early Traction Stages with a strong business plan roadmap for next 24 months in place, Growth Stage Startups with a proven record track in terms of revenue and growth during the last 36 Months.

  • Start-up should be using some form of Emerging Technology in its Core product or service, or business model, or distribution model, or methodology to solve the problem being targeted

  • Startup holding a strong degree of Innovation with the potential to achieve Product Market Fit within 24 months of market entry.

  • Startups under any sector but with strong potential and Full Time Committed Co - Founders and qualify under the definition of being a Startup as per the Govt of India guidelines are eligible to apply.
Answer :
Complete end-to-end handholding support from IIML EIC in the area of:
  • Idea Conceptualization and Validation Support
  • Product Development Support
  • Mentorship & Capacity Building
  • GTM Strategy & Exploring Product Market Fit
  • Corporate Industry Connect
  • Legal & IPR Support
  • Fund Raising Support
  • Global Launch Support
  • Marketing Strategy Support
  • Corporate Assistance

   Support from OIL India Limited in the area of:
  • Market Access to Related Area Startups
  • Access to Industry Experts from the Senior Management of Oil India Limited pool.
  • Funding Support In the Form of Equity Investments / Grant Support
Answer :
  • Launch Date of The Program: 20th Oct 2023 by Chairman & MD of Oil India Limited at IIM Lucknow (Noida Campus)
  • Last Date to Apply for the Program: 30th November 2023, Thursday
  • Screening, Shortlisting & Selection process: Between Dec 23’ to Jan 24
  • Onboarding of Startups under the Cohort: Feb 2024
  • Orientation and Initiation of the Program: March / April 2024
Call For Application from Startups Initial Screening of Applications Advance Level of Screening Workshop for Shortlisted Startups Selection Committee Presentation Startup Onboarding Basis Committee Recommendation Initiation of Program and Support for 24 Months
Answer :

A Start-Up Initiative of Oil India Ltd with IIML EIC