Chennai, Aug 20: MC²+, a brand of MC² Foundation, has launched MC²+ Ignite, a sector-specific accelerator programme designed to support deep-tech startups building technologies for India’s energy sector.
With the vision and drive of Ministry of Petroleum and Natural Gas (MoPNG), the MC² Foundation has come up strongly in a very short period of time with the launch of MC²+ Ignite. The coming together of all the CMDs itself shows how deeply MoPNG is invested in this initiative.
On 19th August 2026, Secretary, MoPNG, along with the CMDs of all Oil & Gas companies and the Chairman, bp India, launched MC²+ Ignite at IIT Madras.
Applications are open until 31st August 2026 through www.mc2plus.
Addressing the gathering at IIT Madras during the launch function, Dr. Neeraj Mittal, Secretary, MoPNG, and Chairman, MC² Foundation, said that MC² Foundation was set up to pool the technology problem statements of India’s oil and gas energy majors onto a single platform, connect them directly to academic research and start-ups, and back the resulting ventures to global scale.
Explaining the need, the Chairman pointed to the fragmentation the Foundation was created to end — “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.”
The stakes, he said, are foundational — “If there is no energy, there is no life, no economy, no business, no food and no water.” He was clear that the ambition must extend beyond the domestic market — “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.”
Addressing the founders present, he committed MC² to the full journey — “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.”
The launch was attended by Dr. Neeraj Mittal, Secretary, Ministry of Petroleum & Natural Gas and Chairman, MC² Foundation; Shri Arun Kumar Singh, Chairman & CEO, Oil and Natural Gas Corporation Limited (ONGC); Dr. Ranjit Rath, Chairman & Managing Director, Oil India Limited (OIL); Shri A. S. Sahney, Chairman, Indian Oil Corporation Limited (IOCL); 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 Limited (EIL); Dr. Madhukar Garg, Former President, R&D – Refining and Petrochemicals, Reliance Industries Limited; Shri Kartikeya Dube, Chairman, bp India; and Shri Sandeep Maheshwari, CEO, MC² Foundation.
MC²+ promises to be a unique accelerator programme, with a first-of-its-kind decentralised acceleration and innovation platform having its hub in Delhi and nodes at various sponsoring companies in the Indian oil & gas sector, inside their R&D centres, to provide access to real pilot sites. MC²+ has partnered with premier institutions, including IIT Madras, IIT Kanpur, IIT Kharagpur, C-CAMP and Venture Center, Pune, to create an ecosystem affording the incubated startups the flexibility of accessing infrastructure, lab facilities and mentoring capabilities across India.
MC²+ Ignite will select a cohort of approximately 30 startups. Selected startups will be eligible for up to ₹2 crore in milestone-linked convertible funding.
The programme addresses a critical gap for Indian deep-tech and energy startups. While early-stage grant funding is easy to come by, startups face challenges in accessing operating assets, pilot sites, industry customers and growth capital. MC²+ Ignite aims to bridge this gap by bringing together capital, infrastructure, technical expertise and industry access within a structured cohort.
PROGRAM BRIEF
To be eligible, applicants must be Indian-incorporated startups less than five years old, have raised no more than ₹10 crore, include at least one technical co-founder, and demonstrate a working prototype or early pilot within the TRL 4–7 range.
The MC²+ Ignite initiative targets startups at Technology Readiness Levels (TRL) 4 to 7, where many promising technologies struggle to progress from working prototypes to industry pilots. The programme combines milestone-linked convertible funding, access to advanced laboratories and pilot facilities, structured engagement with India’s energy majors, and intensive mentoring within a single national cohort.
Selected startups will each be eligible for up to ₹50 lakh in milestone-linked convertible funding during the programme, with the opportunity to secure an additional up to ₹1.5 crore at Demo Day for outstanding performers. Participation is free of cost and does not require startups to raise a priced investment round.
The accelerator will begin with a residential launch bootcamp before entering a 12-week build phase. Depending on their technology, startups will work from host innovation nodes including IIT Madras, IIT Kanpur, C-CAMP Bengaluru, NCL Venture Centre Pune, or partner energy companies’ R&D and pilot sites. The programme will culminate in Demo Day at IIT Madras on 10 January 2027.
Beyond capital, participating founders will receive weekly mentoring curated by IIT Madras, intellectual property support, regulatory and go-to-market guidance, procurement readiness training, and direct pathways to technology validation with participating energy companies.