Balmer Lawrie & IIM Lucknow Partner for Startup Incubation

Kolkata, Feb 9 (PTI) Diversified PSU Balmer Lawrie has signed an MoU with IIM Lucknow for incubation of start-up, a statement issued by the company said on Friday.

The PSU had launched its start-up fund in 2017 and has been instrumental in driving the initiative for the last six years and already funded quite a few.

The incubation centre of IIM Lucknow has collaborated with various PSUs, banks and MNCs for developing an eco-system, the statement said, adding that the association will provide a robust structure of an accelerator programme, seed capital, smart co-working space and market access.

CMD of Balmer Lawrie Adika Ratna Shekhar said "joining hands with the institute is a major milestone towards the success of the start-up programme..

Meanwhile, the company has posted a net profit of Rs 51.38 crore during the third quarter of the current financial year, reflecting a rise of 87.66 per cent over Rs 27.38 crore in the same period of the previous fiscal. Net income of the company during the quarter stood at Rs 590.13 crore. PTI dc