Innovative Initiatives by Oil & Gas PSUs at Startup Mahakumbh 2025
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Synopsis
Government-owned oil and gas companies are fostering innovation by backing 32 startups at Startup Mahakumbh 2025 in New Delhi. Initiatives from ONGC, Indian Oil, and others are shaping the future of energy solutions through funding and mentorship.
Key Takeaways
- 32 PSU-backed startups showcased at Startup Mahakumbh 2025.
- ONGC's startup fund growth by 450% over five years.
- IndianOil funded 42 startups, creating 635 jobs.
- Support for sustainable solutions from various PSUs.
- Expert insights shared by 14 senior PSU executives.
New Delhi, April 5 (NationPress) Government-owned oil and gas corporations have developed strong frameworks to incubate, mentor, and finance groundbreaking startups, evidenced by the participation of 32 PSU-backed startups at the ongoing Startup Mahakumbh 2025 in the national capital.
ONGC’s startup fund has experienced a remarkable 450 percent growth in valuation over five years, with WellRx—its inaugural oilfield startup under the Startup India Policy—extending its energy solutions to over 120 countries.
Indian Oil, a leading player in downstream oil refining and marketing, has financially supported 42 startups through its IndianOil Startup Scheme, resulting in the creation of 86 intellectual properties and 635 jobs.
Oil India, a major player in upstream oil exploration, backs deeptech ventures like Caliche Private Limited, which focuses on biochemical sand influx control for oil wells, and Carbonation India Private Limited, which develops sustainable waste management solutions for the oil and gas industry.
Expert involvement from PSU representatives greatly enriched Startup Mahakumbh 2025, providing startups with access to decades of industry expertise and strategic insights.
Fourteen senior executives from top PSU oil and gas firms shared their knowledge on research monetisation, EV innovation, manufacturing integration, and mobility solutions.
The chairman of ONGC participated in the opening plenary session. Subsequent sessions offered insights into investment strategies for electrification, policy incentives for EV innovation, and the acceleration of last-mile EV mobility.
An incubation roundtable titled 'From Lab to Market – Unlocking Research Monetisation' featured senior executives from BPCL, ONGC, Oil India, and HPCL.
Following the success of its inaugural edition, which was inaugurated by Prime Minister Narendra Modi, Startup Mahakumbh 2025 carries the theme ‘Startup India @ 2047: Unfolding the Bharat Story’.
The event has significantly grown, with over 3,000 startups from 11 thematic sectors, alongside more than 1,000 investors and incubators, creating a vibrant environment for innovation and entrepreneurship.
According to a statement from the Ministry of Petroleum and Natural Gas, other PSUs are also promoting innovation.
EIL’s EngSUI initiative has supported 31 startups with ₹35 crore, funding projects in industrial enzymes, compostable polymers, and carbon capture.
HPCL’s HP Udgam program has allocated ₹35 crore in seed funding to 29 startups, including Maraal Aerospace, which is working on solar-powered long-range drones.
BPCL’s Ankur program has funded 30 startups with ₹28 crore, assisting them in raising $132 million and achieving a cumulative valuation of $300 million.
GAIL’s Pankh initiative supports startups in energy, logistics, and industrial technology, with ventures showcasing solutions in pipeline repair, biogas generation, and sustainable materials.
Through these ongoing efforts, the PSUs are nurturing a technology-driven and sustainable energy ecosystem, empowering startups to spearhead India’s energy transition and innovation landscape, the statement concluded.
