The Ministry of Petroleum and Natural Gas (MoPNG) has reported a significant milestone in its startup ecosystem. ONGC’s dedicated startup fund has seen a remarkable 450% increase in valuation over the past five years, underscoring the effectiveness of strategic investments in energy innovation.
WellRx Expands Global Footprint in Energy Solutions
WellRx, recognized as the first oilfield startup under the Startup India Policy, has extended its innovative solutions to over 120 countries. The achievement demonstrates the global potential of Indian startups and highlights India’s growing influence in the international energy innovation space.
Indian Oil’s IndS_UP Initiative Fuels IP and Job Creation
IndianOil has played a pivotal role in fostering entrepreneurship through its IndS_UP program. The initiative has funded 42 startups, leading to the creation of eighty-six intellectual properties. This progress reflects the program’s strong emphasis on innovation and impact.
Oil India Focuses on Deeptech Solutions for the Sector
Oil India has channelled its support toward deep technology ventures. Notably, it backs Caliche Private Limited, which develops biochemical solutions for sand influx control in oil wells, and Carbonation India Private Limited, known for its sustainable waste management innovations tailored for the oil and gas industry.
Startup Mahakumbh 2025 Showcases PSU-led Innovation
MoPNG actively participated in Startup Mahakumbh 2025, held from April 3–5 at New Delhi. The event showcased thirty-two startups backed by Oil and Gas PSUs, reflecting the sector’s commitment to nurturing innovation.
Senior PSU officials, including fourteen top executives from leading companies like ONGC, BPCL, HPCL, and Oil India, brought valuable insights on research monetisation, EV technologies, integrated manufacturing, and mobility solutions.
Roundtable on Research Commercialisation Highlights Strategic Pathways
A key event, “From Lab to Market – Unlocking Research Monetisation,” featured senior executives from major oil PSUs. The discussion focused on converting R&D innovations into viable commercial ventures, offering a roadmap for future technology-driven growth in the sector.
Other PSUs Drive Growth with Strategic Funding Initiatives
Several other PSUs have also played a crucial role in building India’s startup landscape:
- Engineers India Limited (EIL), through its EngSUI initiative, has supported 31 startups with ₹35 crore, funding projects in industrial enzymes, compostable polymers, and carbon capture.
- HPCL’s HP Udgam has invested ₹35 crore in 29 startups, including Maraal Aerospace, known for its solar-powered long-range drones.
- BPCL’s Ankur program funded 30 startups with ₹28 crore. These ventures raised USD 132 million collectively and reached a cumulative valuation of USD 300 million.
- GAIL’s Pankh initiative backs startups in energy, logistics, and industrial tech, with solutions in pipeline repair, biogas production, and sustainable materials.
Driving India’s Energy Transition Through Innovation
Through robust support systems and sustained funding, MoPNG and its PSUs are powering a technology-led, sustainable energy ecosystem. As reported by knnindia.co.in, these efforts are enabling startups to lead India’s energy transition. They also support long-term economic and environmental goals.
