Aug 21: Secretary, Ministry of Petroleum and Natural Gas, Dr Neeraj Mittal, along with the heads of major oil and gas public sector undertakings and Chairman, bp India, launched MC²+ Ignite, a sector-specific accelerator programme aimed at supporting deep-tech startups developing technologies for India’s energy sector.
Launched at IIT Madras on August 19, the programme will select around 30 startups, with each selected venture eligible for milestone-linked convertible funding of up to ₹2 crore. The initiative will also provide startups access to pilot sites, industry expertise, research infrastructure, mentoring and potential commercialisation opportunities.
MC²+ Ignite has been launched by MC² Foundation, which was set up to bring together technology problem statements from India’s oil and gas companies and connect them with academic institutions, research organisations and startups.
Addressing the gathering at IIT Madras, Dr Neeraj Mittal, Secretary, MoPNG and Chairman, MC² Foundation, said the Foundation was created to address duplication in technology development across the energy sector and establish a direct interface between industry, research institutions and startups.
“Several of our companies can be working on the very same catalyst at the same time. That is duplication of work, of investment and of bureaucracy — and it comes with no direct interface to the institutions where the research is actually happening,” he said.
Emphasising the strategic importance of energy innovation, Dr Mittal said,
“If there is no energy, there is no life, no economy, no business, no food and no water.”
He also underlined the need for Indian energy technologies to compete globally. “We cannot become a Viksit Bharat by focusing on the Indian market alone. We have to produce at a global scale — that is how costs come down,” he said.
Dr Mittal assured startups participating in the programme of support across the innovation and commercialisation cycle. “We will be with you through the entire cycle — mentorship that is both technical and managerial, help with funds, and the visibility that a PSU will procure your product when it is ready. You should not have to worry about whether a market exists,” he said.
Platform to connect startups with real-world energy assets
MC²+ Ignite is designed as a decentralised acceleration and innovation platform, with its hub in Delhi and nodes at participating oil and gas companies, including within their R&D centres. This structure is intended to give startups access to operating assets and real-world pilot sites for testing and validating their technologies.
The programme has partnered with premier institutions including IIT Madras, IIT Kanpur, IIT Kharagpur, C-CAMP and Venture Center, Pune, enabling participating startups to access laboratories, infrastructure, research capabilities and technical mentoring across different locations.
The initiative seeks to address a key challenge faced by Indian deep-tech startups: while early-stage grant funding may be available, many ventures struggle to access operating assets, pilot facilities, industry customers and growth capital required to move from technology development to commercial deployment.
MC²+ Ignite aims to bring these elements together through a structured sector-focused accelerator, connecting capital, infrastructure, technical expertise and industry access.
Applications open for inaugural cohort
Applications for the inaugural cohort opened on August 5, 2026, and will remain open until August 31, 2026. The 30 selected startups are scheduled to be announced on September 15, 2026.
The launch was attended by senior leaders from India’s oil and gas sector, including Shri Arun Kumar Singh, Chairman & CEO, ONGC; Dr Ranjit Rath, Chairman & Managing Director, Oil India Ltd; Shri A S Sahney, Chairman, Indian Oil Corporation Ltd; Shri Sanjay Khanna, Chairman & Managing Director, BPCL and Director, MC² Foundation; Shri Vikas Kaushal, Chairman & Managing Director, HPCL and Director, MC² Foundation; Shri Atul Gupta, Chairman & Managing Director, Engineers India Ltd; Dr Madhukar Garg, former President, R&D – Refining and Petrochemicals, Reliance Industries Ltd; Shri Kartikeya Dube, Chairman, bp India; and Shri Sandeep Maheshwari, CEO, MC² Foundation.