The Ministry of Petroleum and Natural Gas (MoPNG) has been actively driving energy innovation through its Startup Mahakumbh 2025 initiative. The event has seen 32 PSU-backed startups participating. ONGC's startup fund has seen a 450 per cent growth in valuation over five years, with WellRx expanding its energy solutions to over 120 countries.
Indian Oil has funded 42 startups under its IndS_UP initiative, generating 86 intellectual properties and 635 jobs. Oil India supports deep-tech ventures such as Caliche Private Limited, which specialises in biochemical sand influx control for oil wells, and Carbonation India Private Limited, which develops sustainable waste management solutions for the oil and gas sector.
Expert participation from PSU officials added significant value to Startup Mahakumbh 2025, offering startups access to decades of industry experience and strategic insights. The event also hosted an incubation roundtable titled "From Lab to Market – Unlocking Research Monetization," featuring senior executives from BPCL, ONGC, Oil India, and HPCL.
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The Ministry of Petroleum and Natural Gas has consistently supported and recognised innovation, as demonstrated during India Energy Week 2025. The 'Avinya'25 – Energy Startup Challenge' identified and rewarded startups making advancements in CO₂ capture, ESG solutions, and renewable energy. The 'Vasudha – Oil and Gas Startup Challenge' recognised international startups pioneering AI-driven solutions in the upstream oil and gas sector.
Other PSUs are also driving innovation, with EIL's EngSUI initiative supporting 31 startups with Rs.35 crore, HPCL's HP Udgam program providing seed funding to 29 startups, BPCL's Ankur program funding 30 startups with Rs 28 crore, and GAIL's Pankh initiative supporting startups in energy, logistics, and industrial technology.
FIRST Business Portal addressing the potential of business capability of North East Region.
