Mumbai: Oil and Natural Gas Corporation Limited (ONGC) participated in the MCSquarePlus Ignite Mumbai City Connect held at IIT Bombay, bringing together industry leaders, academia and innovators to strengthen India’s deep-tech and energy innovation ecosystem.
A key highlight of the event was the signing of a tripartite Memorandum of Understanding (MoU) between the MC²+ Foundation, IIT Bombay and the Society for Innovation and Entrepreneurship (SINE), IIT Bombay.
ONGC Partners with MC²+ Ecosystem
As a partner PSU in the MC²+ ecosystem, ONGC will collaborate on AI-driven Subsurface Intelligence and six other energy innovation themes.
The partnership is aimed at connecting industry requirements with deep-tech innovation and creating opportunities for startups and innovators to develop solutions for the energy sector.
The collaboration will focus on areas including:
- AI-driven Subsurface Intelligence
- Energy innovation and deep-tech solutions
- Research and development
- Technology pilots and deployment
- Startup and innovation support
- Scaling emerging technologies
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Tripartite MoU Signed at IIT Bombay
The tripartite MoU was signed between:
- MC²+ Foundation
- IIT Bombay
- Society for Innovation and Entrepreneurship (SINE), IIT Bombay
The agreement is expected to create a stronger platform for collaboration between industry, academia and startups in the deep-tech and energy sectors.
ONGC to Support Startups with R&D and Market Opportunities
Under the MC²+ ecosystem, ONGC will work with startups and innovators to help them address real-world challenges faced by the energy industry.
The partnership is expected to provide startups access to:
- R&D facilities
- Technical mentorship
- Funding opportunities
- Market opportunities
- Pilot projects
- Industry use cases
Through these opportunities, emerging technologies can be tested in real-world environments and potentially move towards wider deployment.
Industry Challenges to Be Connected with Indian Innovation
ONGC said the initiative will bring industry challenges and Indian ingenuity together to help innovative technologies move from research to deployment and scale.
The collaboration is intended to bridge the gap between technology development and its practical application in the energy sector.
By connecting startups, academic institutions and industry stakeholders, the ecosystem can help accelerate the development and adoption of solutions addressing critical energy-sector requirements.
Key Participants at MC²+ Ignite Mumbai City Connect
The event brought together senior representatives from the energy, academic and innovation sectors.
Key participants included:
- Arun Kumar Singh, Chairman, ONGC
- Prof. Shireesh Kedare, Director, IIT Bombay
- Prof. Aniruddha B. Pandit, Vice Chancellor, Institute of Chemical Technology, Mumbai
- O.P. Sinha, Director (Exploration), ONGC
- Bhaskar Chowdary Nettem, Designated OSD (Production), ONGC
- Ratnesh Kumar, ED – Chief Corporate Strategy, ONGC
- Representatives from MC²+, SINE and CoEOGE
The participation of industry and academic leaders underlines the growing focus on collaboration in deep-tech and energy innovation.
Focus on Deep-Tech and Energy Innovation
The MCSquarePlus Ignite Mumbai City Connect provided a platform for industry, academia and innovators to explore opportunities for collaboration in emerging technologies.
ONGC’s participation and partnership in the MC²+ ecosystem are aimed at strengthening innovation capabilities in the energy sector, particularly through the application of artificial intelligence and other advanced technologies.
About ONGC
Oil and Natural Gas Corporation Limited (ONGC) is India’s largest exploration and production company and a Maharatna Central Public Sector Enterprise under the Ministry of Petroleum and Natural Gas, Government of India. ONGC is engaged in the exploration and production of crude oil and natural gas and is also expanding its focus towards new and emerging energy opportunities.
Read also: NRDC and ONGC Partner to Strengthen Technology Development, Transfer and Commercialisation
