Mangalore Refinery and Petrochemicals Ltd (MRPL) has partnered with Indian Institute of Management (IIM), Kozhikode, to launch ‘La Eve’ – a women entrepreneurship development programme. Meaning ‘The Woman’, the programme aims to identify and support innovative women-led startups in the country.
Rudolph Joyer Noronha, General Manager of MRPL, stated that the organisation has joined hands with the institute to promote India’s promising women entrepreneurs, in keeping with the ‘Start-Up India’ mission of the Government. The initiative, he added, is aimed at encouraging Indian women to pursue more business ideas, foraying into a variety of fields, and help them establish a successful venture.
The programme would be spearheaded by IIMK LIVE (Laboratory for Innovation, Venturing, and Entrepreneurship), the technology business incubator and entrepreneurship development center of the institute, with funding from MRPL. In 2019, MRPL had entered a Memorandum of Understanding (MoU) with the institute, and has, since, provided seed funding to more than 11 startups incubated at IIMK LIVE.
The start-ups which will be a part of the programme will be selected on the basis of the projected business model. Among early stage start-ups, only those which have a minimum viable product, or at least a proof of concept, would be eligible.
A seed money of Rs 25 lakh will be provided by MRPL to 11 start-up ideas, as part of the initiative. On the other hand, IIM-Kozhikode will be responsible for providing training and mentorship, and supporting them during their incubation stage, to help them gain success in the industry.
Mr Norhonha also added that the deadline for sending applications for the programme would be November 25. Women entrepreneurs would be able to apply for the programme via the ‘Start Up’ section on the MRPL website, or the IIMKLIVE website.