Corporate VC Startup Engagement Program [CSEP]

A joint corporate venture capital (CVC) Initiative by

Interested Startups should apply here!

on or before 30th April 2024

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About Program

Corporate VC Startup Engagement Program [CSEP]

Commercialisation &

Scaleup Support by IIML EIC

Market access & funding

support by Balmer Lawrie

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

30th April 2024.

orientation starts
Duration of 36 months starting

from August/September 2024


Frequently Asked Questions

Answer :
  • Founded by two Scotsmen, Stephen George Balmer and Alexander Lawrie, in Kolkata, Balmer Lawrie & Co. Ltd. started its corporate journey as a Partnership Firm on 1st February 1867. Traversing the 157 years gone by, today Balmer Lawrie is a Miniratna - I Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Govt. of India, with a turnover of Rs. 2383 crores and a profit of Rs. 154 crores. Along with its four Joint Ventures and one subsidiary in India and abroad, today it is a much-respected transnational diversified conglomerate with presence in both manufacturing and service sectors. Balmer Lawrie is a market leader in Steel Barrels, Industrial Greases & Specialty Lubricants, Corporate Travel and Logistics Services. It also has significant presence in most other businesses, it operates, viz, Chemicals, Logistics Infrastructure etc. In its entire years of existence, Balmer Lawrie has been successfully responding to the demands of an ever changing environment, leveraging every change as an opportunity to innovate and emerge a leader in industry.
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, Balmer Lawrie joined hands with IIM Lucknow Enterprise Incubation Center [IIML EIC] 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
  • Market Access to Related Area Startups
  • Access to Industry Experts from the Senior Management of Balmer Lawrie.
  • Funding Support

Answer :
  • Launch Date of The Program: 18th March 2024
  • Last Date to Apply for the Program: 18th April 2024
  • Screening, Shortlisting & Selection process: Between April 24’ to June’24
  • Onboarding of Startups under the Cohort: July 2024
  • Orientation and Initiation of the Program: August / September 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 36 Months
Answer :

A Start-Up Initiative of Balmer Lawrie & Co. Ltd. with IIML EIC