Going beyond merely extending grant funding, BPCL has collaborated with many startups in innovative ways to solve some of BPCL's business challenges.
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Proof of Concept: However good their products or solutions may be, startups need real-world playground to implement these solutions on a pilot basis. Project Ankur has provided platform to a number of startups it has funded, to test their products in BPCL refineries and other business units
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Access to Facilities: Solutions developed in garages and workshops need real world facilities to test. BPCL routinely helps startups by making available BPCL's facilities and equipment to test their products.
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Startups as Consultants: Startups have a keen eye for identifying problem statements/business challenges. To benefit from their innovative approach to overcome these challenges, BPCL has collaborated with a couple of startups, selected from over a 100 startups, to study Mumbai Refinery turnaround process by witnessing the actual process with the objective of achieving digitally enabled turnaround while reducing time, cost and enhancing safety. The startups identified several areas of improvement and innovative proposals which are being evaluated by Mumbai Refinery for implementation.
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Procurement: Innovative products and services from many startups funded under Project Ankur have been procured by multiple business units of BPCL. Procurement by BPCL not only helps startups monetise, but, indeed, BPCL's name on their client list also bolsters their credentials as worthy suppliers.
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Mentoring: Startups are prodigies which need to be groomed into all-round sound businesses. BPCL has been regularly mentoring startups funded under Project Ankur on various aspects such as validating their business plans, advising them on their marketing and scale up strategies, etc.
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Industry Connect: One of the key challenges startups face is connecting with buyers and decision makers in the industry. BPCL regularly helps startups to connect with BPCL's industry peers for pitching their products and solutions to the right set of people.