Two stage evaluation process
A two stage selection process would be followed for finalization of start-up firm.
In Phase 1, applicants would be shortlisted by a constituted committee based on their application. While shortlisting, the committee would look into aspects such as the originality of the innovation idea, scope of innovation, relevance to social and environmental aspects, technical and business feasibility of the idea, the robustness of the plan (idea to actual development) along with timelines, the relatedness of the idea with Balmer Lawrie's line of businesses and profile of the team members.
In Phase 2, the shortlisted applicants in Phase 1 would be reviewed by a separate committee through presentation and personal interaction. Uniqueness of the product, technology/process, business model, market potential, robustness of the plan (product development to final production and marketing), five- year revenue and expenditure plan and overall presentation and personal interaction are some of the aspects, which would be given emphasis while screening of applicants.
The selected applicant(s)/ start-up would be incubated by Balmer Lawrie and provided seed capital, infrastructure and required support to the extent possible
A Miniratna I PSE under MoPNG, GOI Balmer Lawrie is transnational diversified conglomerate with presence in both manufacturing and service sector. Balmer Lawrie has six business units – Logistics, Travel & vacations, Industrial Packaging, Greases & Lubricants, Leather Chemicals and Refinery & Oil Field Services.