British-Dutch oil major Shell's Indian subsidiary on Monday unveiled a programme to support energy startups in India by offering to work with them for six months.
"Selected startups will have access to work at our technology centre in Bengaluru for six months," it said in a statement here.
According to a VCCircle report, Shell will select a cohort of startups and give them access to its technology and IT labs in Bengaluru for a period of six months. Additionally, it will also provide technical and commercial mentorship from within and outside the company and offer access to potential customers through its network of partners.
Through the programme named Shell E4 (Energising and Enabling Energy Entrepreneurs), the company will collaborate with selected startups and businesses that have a potential to impact the future of energy.
"The selected firms will receive technical and commercial mentorship along with a fixed sum investment of $20,000 per startup," the company said.
"With this programme, we aim to provide a platform to energy startups for collaboration and conversation around valuable energy transitions, offering startups Shell's guidance and support," Shell Companies India Chairman Nitin Prasad said in the statement.
The programme is set to begin on December 4 and will be run out of the company’s newly opened R&D centre, Shell Technology Centre Bengaluru (STCB).
VCCircle reports that Shell has been making seed investments in startups globally through its mentoring initiative ‘GameChanger’ nearly for two decades now.
Its VC arm Shell Technology Fund (STV), which is run by a team of 15 investment professionals was launched in 1998. It is the first corporate venture fund in the oil and gas industry. Shell typically makes seed investments of around $200,000.
With IANS Inputs