GAIL CMD launches Start-up initiative ‘Pankh’

Posted: 25 Jul 2017 04:06 AM PDT

Web Portal to submit proposals to remain open till August 16, 2017

New Delhi, July 25, 2017: With the objective of nurturing the spirit of entrepreneurship among Indians as envisioned by Hon’ble Prime Minister Shri Narendra Modi, GAIL (India) Limited Chairman and Managing Director Shri B C Tripathi today launched a Start-up initiative titled ‘Pankh’ to identify and promote innovative ventures. Shri Subir Purkayastha, Director (Finance), Shri P K Gupta, Director (Human Resources), Shri Gajendra Singh, Director (Marketing) along with senior officials of GAIL were present on the occasion.

To promote the initiative, GAIL has created a corpus of Rs 50 crores for investing in Start-ups and would also provide mentoring to them in core areas of the company, i.e., natural gas and its derivatives. Speaking on the occasion, Shri Tripathi said this would help Start-ups to realize their full potential at the earliest. He stressed upon the need to look at the initiative of Start-ups in the context of the economy cycle which is otherwise reversing and the need of the hour is innovation.

Shri Tripathi also launched a Start-up Web Portal through which potential candidates can submit their proposals to GAIL. The Portal can be accessed through the GAIL website and will remain open till August 16, 2017.

Addressing the GAIL officials, Shri Tripathi said the creation of the corpus fund under ‘Pankh’ was only a small beginning to promote innovative ideas and this could be reviewed and improved upon depending upon the response of entrepreneurs and the concepts received under the initiative.

As a responsible corporate citizen, GAIL would also invest in a few non-core areas like Health, Social and Environment sector, Shri Tripathi said. This would be an exciting opportunity for diversification for GAIL and also support in the creation of a Start-up nation, he said.

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