New Delhi: A total of 32 startups supported by public sector oil and gas companies are taking part in Startup Mahakumbh 2025, being held from April 3 to 5, 2025, at Bharat Mandapam in New Delhi. The Ministry of Petroleum and Natural Gas is actively participating in the event, which has brought together over 3,000 startups from 11 sectors, alongside more than 1,000 investors and incubators.
Oil and gas PSUs have built strong frameworks to incubate, mentor, and fund early-stage ventures. ONGC’s startup fund has recorded a 450 per cent increase in valuation over the past five years. Its first oilfield startup under the Startup India Policy, WellRx, has expanded its solutions to over 120 countries. IndianOil’s IndS_UP initiative has backed 42 startups, leading to 86 intellectual properties and the creation of 635 jobs.
Oil India is supporting ventures such as Caliche Private Limited, which develops biochemical sand influx control for oil wells, and Carbonation India Private Limited, which focuses on sustainable waste management for the oil and gas sector.
Senior PSU executives added weight to the event, with 14 senior officials from leading oil and gas PSUs sharing insights on topics including research monetisation, EV innovation, manufacturing integration, and mobility solutions. ONGC’s chairman was part of the opening plenary session. Other discussions covered areas such as policy incentives for EV development, investment in electrification, and accelerating last-mile EV mobility. An incubation roundtable titled “From Lab to Market – Unlocking Research Monetisation” featured leaders from BPCL, ONGC, Oil India, and HPCL.
Following the success of its inaugural edition, Startup Mahakumbh 2025 is themed 'Startup India @ 2047: Unfolding the Bharat Story.’ The event continues to grow as a platform for entrepreneurs and investors alike.
The Ministry of Petroleum and Natural Gas has consistently promoted innovation. During India Energy Week 2025, held from February 11 to 14, 2025, at Yashobhoomi, Delhi, the ministry organised the 'Avinya’25 – Energy Startup Challenge' to recognise progress in CO₂ capture, ESG solutions, and renewables. The 'Vasudha – Oil and Gas Startup Challenge' awarded international startups developing AI-based solutions for the upstream sector.
Other PSUs are also expanding their startup engagement. EIL’s EngSUI initiative has supported 31 startups with Rs 35 crore, focusing on industrial enzymes, compostable polymers, and carbon capture. HPCL’s HP Udgam programme has provided Rs 35 crore in seed funding to 29 startups, including Maraal Aerospace, which is working on solar-powered long-range drones. BPCL’s Ankur programme has funded 30 startups with Rs 28 crore, helping them raise $132 million and reach a combined valuation of $300 million. GAIL’s Pankh initiative is backing ventures in energy, logistics, and industrial technology, including solutions in pipeline repair, biogas, and sustainable materials.
Through these efforts, the ministry and its PSUs are building a supportive ecosystem for startups, with a focus on sustainable energy and new technologies.
BI Bureau
