MC²+ IGNITE will support up to 30 deep-tech energy start-ups working on energy-transition technologies. The accelerator is co-hosted by IndianOil, Venture Center and CSIR-National Chemical Laboratory (CSIR-NCL).
Each selected start-up can receive up to Rs 50 lakh in convertible funding. Top-performing ventures could receive an additional Rs 1.5 crore at Demo Day. This takes the potential funding opportunity to Rs 2 crore for the strongest ventures.
MC²+ IGNITE Targets Energy-Transition Technologies
The programme was highlighted during the Pune outreach of MC²+ IGNITE, titled “Advancing Energy Innovations.” The event was held at the NCL Main Auditorium under the aegis of the MC² Foundation. It was conducted with guidance from the Ministry of Petroleum and Natural Gas.
The accelerator will support deep-tech ventures across seven energy-transition themes. These include hydrogen and mobility, AI-driven subsurface intelligence, next-generation drilling, bioenergy and compressed biogas, refinery process intensification, digital asset management and an open theme.
Funding Structure Gives Start-ups Greater Flexibility
The programme does not require start-ups to raise a priced funding round. Founders will also retain complete ownership of their intellectual property.
IIT Madras is implementing the programme. Incubation nodes have been established at IIT Kanpur, Venture Center, C-CAMP and IIMA Ventures.
IndianOil to Provide Infrastructure for Technology Validation
IndianOil Chairman A. S. Sahney said the initiative will help promising energy technologies move beyond laboratory-scale development.
The programme will give founders access to industrial infrastructure and opportunities to validate their solutions in real-world conditions.
Sahney said MC²+ IGNITE will open IndianOil’s infrastructure to founders so they can test, validate and scale promising technologies beyond the laboratory stage.
Hydrogen and Mobility Key Focus Areas
IndianOil’s collaboration with CSIR-NCL under the programme will focus on hydrogen and mobility. Both areas are central to the company’s energy-transition strategy.
Padma Vibhushan R. A. Mashelkar delivered the keynote address at the Pune programme. He described the initiative as timely and path-breaking.
Mashelkar highlighted the importance of bringing together laboratories, industrial assets, mentoring, capital and market access. He said such collaboration can strengthen India’s deep-tech innovation ecosystem.
MC² Foundation Expands Energy Innovation Network
The Pune programme brought together energy companies, research institutions, deep-tech founders and members of the scientific community.
The event featured sessions on the capabilities and problem statements of Indian oil and gas companies. It also covered the green hydrogen ecosystem and showcased energy innovators.
The programme concluded with the exchange of a Memorandum of Understanding (MoU) between the MC² Foundation and Venture Center. The agreement formally establishes Venture Center as an on-ground MC² node.
The MC² Foundation is a Section 8 not-for-profit platform promoted by leading energy companies. Its members include Petronet LNG, IndianOil, ONGC, GAIL, BPCL, HPCL, Oil India and Engineers India Limited, along with research institutions.
The platform aims to accelerate collaboration, technology development and innovation across India’s energy sector.
Source: PSU Watch
