The Oil and natural gas Corporation Limited signed a Memorandum of Understanding with five start Ups at Start Up Sangam.
The MoU was signed under a start-up program for entrepreneurs where a fund corpus of Rs 320 crore is to be disbursed over a time period of three years.
ONGC selected five Start-Ups namely M/s Red Ginger Technologies Pvt Ltd, Gurgaon; M/s Planys Technologies Pvt. Ltd, Chennai; M/s Detect Technologies Pvt. Ltd, Chennai; M/s String Bio Pvt Ltd, Bangalore & Chakra Innovation Pvt. Ltd, Delhi based on pre-approved evaluation criteria and due approvals.