New Delhi: Hindustan Petroleum Corporation Limited (HPCL) hosted the Bengaluru edition of MC²+ IGNITE, India’s energy innovation accelerator, at the Indian Institute of Science (IISc) Bengaluru, bringing together energy industry leaders, researchers, startups and investors to explore technology-led solutions for India’s evolving energy needs.
The programme focused on bio-energy and compressed bio-gas (CBG) and examined how collaboration between energy companies, research institutions and startups can help move technologies from research and development to real-world deployment and commercial scale.
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The event was attended by HPCL Chairman and Managing Director Vikas Kaushal, Shell Vice President – Research & Innovation Ajay Mehta, Federation of Indian Petroleum Industry (FIPI) Director Deb Adhikari, representatives from IISc Bengaluru and the MC² Foundation, along with deep-tech startups and investors.
Launched on August 19, 2026, MC²+ IGNITE is designed to address a key funding and market-access gap faced by energy and deep-tech startups after the early research and grant-funding stage. The accelerator seeks to provide startups access to operating assets, real-world pilot sites, industry customers and growth capital.
The inaugural cohort is expected to comprise around 30 startups, with selected ventures eligible for up to Rs 2 crore in milestone-linked convertible funding.
The accelerator covers seven energy-transition themes: hydrogen and mobility, AI-driven subsurface intelligence, next-generation drilling, bio-energy and CBG, refinery process intensification, digital asset management and an open theme.
At the Bengaluru programme, discussions around bio-energy and CBG focused on the role of technology, research and entrepreneurship in unlocking the potential of bio-based energy solutions and addressing deployment challenges.
The programme also featured startup showcases by Maral Aerospace and Magenta EV Solutions, providing the ventures an opportunity to present their technologies and interact with industry leaders, researchers and investors.
A panel discussion titled “Re-imagining Energy Supply Chains and Materials for India's Strategic Autonomy: A Start-up and Investor Perspective” brought together representatives from Bharat Innovation Fund, Zippmat, Ventureast and Chara Technologies.
The discussion examined how startups, investors and industry can contribute to strengthening domestic capabilities in critical energy supply chains and materials. It also highlighted the role of indigenous innovation and capital in supporting India's strategic autonomy in the energy sector.
A key development at the event was the signing of an MoU between the MC² Foundation and IISc Bengaluru to establish a framework for co-creating energy ventures.
The partnership will combine IISc’s research and scientific capabilities with the MC² Foundation’s industry ecosystem to support the development and advancement of promising energy technologies and ventures. The collaboration is aimed at strengthening industry-academia linkages and creating pathways to translate research outcomes into commercially relevant energy solutions.
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“MC²+ is a call to India’s innovators to reimagine the future of energy. Through MC²+ IGNITE, we are inviting bold, deep-tech solutions across seven critical energy themes—connecting innovation with industry to solve real-world challenges and build solutions that can scale. The ambition is to turn India’s ingenuity into impact for a secure, sustainable and self-reliant energy future.”HPCL CMD Vikas Kaushal said:
MC² Foundation CEO Sandeep Maheshwari said the initiative would give startups access to industry assets and opportunities for real-world validation and commercial-scale deployment.
“Through MC²+, HPCL and all other Partner Energy Majors are opening access to our R&D Centre, our refineries, rigs and other facilities for real-world validation, and the assurance of a first customer at commercial scale. Put the speed of a start-up together with the scale of a Maharatnas, energy independence arrives a great deal faster than either of us could manage alone.”
Shell VP, Research & Innovation, Ajay Mehta said the initiative could help strengthen India's deep-tech and energy innovation ecosystem.
“MC²+ Ignite is a welcome step towards strengthening India’s deep-tech and energy innovation ecosystem. At Shell, we believe startups and entrepreneurs will play a critical role in shaping future energy solutions. Initiatives such as MC²+ Ignite can help translate promising ideas into scalable solutions and create meaningful impact for India’s evolving energy needs.”
The Bengaluru programme is part of the broader MC²+ IGNITE initiative to connect energy-sector challenges with research institutions, startups and investors, creating pathways for promising technologies to be tested, validated and scaled for commercial applications.
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