New Delhi: Up to 30 deep-tech start-ups working on energy-transition technologies will be selected under MC²+ IGNITE, an energy innovation accelerator co-hosted by Indian Oil Corporation Limited (IndianOil), Venture Center and CSIR-National Chemical Laboratory (CSIR-NCL).
Each selected start-up will be eligible for convertible funding of up to ₹50 lakh, while the strongest ventures could receive an additional ₹1.5 crore at Demo Day. This creates a potential funding opportunity of up to ₹2 crore for top-performing start-ups.
The initiative was highlighted during the Pune outreach programme of MC²+ IGNITE, titled “Advancing Energy Innovations”, held at the NCL Main Auditorium under the aegis of the MC² Foundation and with guidance from the Ministry of Petroleum and Natural Gas.
MC²+ IGNITE to Support Up to 30 Deep-Tech Start-Ups
The accelerator aims to help promising deep-tech ventures develop and validate technologies for India’s evolving energy sector.
The programme will focus on seven broad energy-transition themes:
- Hydrogen and mobility
- AI-driven subsurface intelligence
- Next-generation drilling
- Bioenergy and compressed biogas
- Refinery process intensification
- Digital asset management
- Open theme for innovative energy technologies
The initiative is designed to connect start-ups with industry expertise, research capabilities, infrastructure and opportunities for real-world technology validation.
Start-Ups Can Access Funding of Up to ₹2 Crore
The funding structure is one of the key features of MC²+ IGNITE.
Selected start-ups can receive:
- Up to ₹50 lakh in convertible funding
- Additional funding of up to ₹1.5 crore at Demo Day for the strongest ventures
- Potential total funding opportunity of up to ₹2 crore
The programme does not require a priced funding round, providing start-ups with an alternative funding pathway during their development and validation stages.
Founders will also retain complete ownership of their intellectual property, allowing them to maintain control over the technologies they develop.
IndianOil to Provide Access to Industrial Infrastructure
IndianOil Chairman A. S. Sahney said the initiative is intended to help promising energy technologies move beyond laboratory-scale development.
The programme will provide founders with opportunities to access industrial infrastructure and validate their technologies under real-world conditions.
Sahney said the initiative would open IndianOil’s infrastructure to founders to test and validate solutions beyond the bench scale, helping promising technologies move through the development stage where many innovations struggle to progress.
Hydrogen and Mobility in Focus
The collaboration between IndianOil and CSIR-NCL under MC²+ IGNITE will specifically focus on hydrogen and mobility.
These areas form an important part of IndianOil’s broader energy-transition agenda as the company explores technologies supporting cleaner fuels and future mobility.
The accelerator will bring together start-ups, research institutions and energy-sector organisations to develop and test technologies relevant to these emerging areas.
IIT Madras to Implement MC²+ IGNITE
The programme is being implemented by IIT Madras, with incubation nodes at several leading innovation and research institutions.
The incubation network includes:
- IIT Kanpur
- Venture Center
- C-CAMP
- IIMA Ventures
This network is intended to provide participating start-ups with access to incubation, technical support, mentoring and industry connections.
R. A. Mashelkar Calls Initiative Timely and Path-Breaking
Padma Vibhushan R. A. Mashelkar, who delivered the keynote address at the Pune programme, described the initiative as timely and path-breaking.
He highlighted the importance of bringing together laboratories, industrial assets, mentoring, capital and market access to strengthen India’s deep-tech innovation ecosystem.
The Pune outreach brought together representatives from energy companies, research institutions, deep-tech start-ups and the scientific community.
Pune Outreach Highlights Energy Innovation Opportunities
The “Advancing Energy Innovations” programme featured discussions and showcases covering several areas of the energy innovation ecosystem.
The programme included:
- Sessions on capabilities and problem statements of India’s oil and gas companies
- Discussions on the green hydrogen ecosystem
- Showcase of energy innovators
- Interaction between deep-tech founders and the scientific community
- Participation from energy companies and research institutions
The programme concluded with the exchange of a Memorandum of Understanding between the MC² Foundation and Venture Center, formally establishing Venture Center as an on-ground MC² node.
MC² Foundation Brings Energy Companies and Research Institutions Together
The MC² Foundation is a Section 8 not-for-profit platform promoted by leading energy companies in partnership with research institutions.
The foundation’s participating energy companies include:
- Petronet LNG
- IndianOil
- ONGC
- GAIL
- BPCL
- HPCL
- Oil India
- Engineers India Limited
The platform aims to accelerate collaboration, technology development and innovation across India’s energy sector by connecting industry capabilities with research and deep-tech entrepreneurship.
About IndianOil
Indian Oil Corporation Limited (IndianOil) is one of India’s leading integrated energy companies and a major public-sector enterprise. The company operates across refining, petroleum products, pipelines, marketing and emerging energy areas, with a growing focus on renewable energy, green hydrogen, sustainable fuels and other energy-transition technologies.
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