State-owned Numaligarh Refinery Ltd may rope in North East Development Foundation (NEDF) of Guwahati-based NEDFi (North Eastern Development Finance Corporation Ltd) for operating its ₹10-crore start-up fund.
A similar move is also expected from the Dhuliajan-based Oil India, which announced the setting up of a ₹50-crore fund.
Tie-up with IIT Guwahati
Created in 2017, the NRL fund saw disbursement of seed capital of around ₹1.5 crore. The BPCL subsidiary tied up with IIT-Guwahati for incubation of the start-ups. However, operation of the fund remains a concern as venture capital requires specialised skills and attention.
