Hindustan Petroleum Corporation Limited (HPCL) hosted the Bengaluru edition of MC²+ IGNITE, an energy innovation accelerator, at the Indian Institute of Science (IISc), bringing together leaders from industry, academia, research, startups and the investment community to discuss technologies shaping India’s energy future. The programme focused on opportunities across the energy sector, with bio-energy and compressed biogas (CBG) emerging as key themes. Senior representatives attending the event included Vikas Kaushal, Chairman & Managing Director, HPCL; Ajay Mehta, Vice President – Research & Innovation, Shell; Deb Adhikari, Director, Federation of Indian Petroleum Industry (FIPI); 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 support deep-tech startups developing solutions for the energy sector. The accelerator seeks to address challenges faced by startups in accessing operating assets, pilot sites, industry customers and growth capital after the early stages of research and grant funding.
The inaugural cohort is expected to include around 30 startups, with selected ventures eligible for up to ₹2 crore in milestone-linked convertible funding. The programme covers seven themes: hydrogen and mobility, AI-driven subsurface intelligence, next-generation drilling, bio-energy and compressed biogas, refinery process intensification, digital asset management and an open innovation category.
The Bengaluru programme included discussions on the role of research, technology and entrepreneurship in developing bio-based energy solutions. Startup showcases by Maral Aerospace and Magenta EV Solutions provided emerging ventures an opportunity to present their technologies to industry leaders, researchers and investors.
A panel discussion on re-imagining energy supply chains and materials for India’s strategic autonomy brought together representatives from Bharat Innovation Fund, Zippmat, Ventureast and Chara Technologies. The discussion examined how startups, investment and innovation can strengthen domestic capabilities across critical energy supply chains.
A key highlight was the signing of a Memorandum of Understanding between the MC² Foundation and IISc Bengaluru to create a framework for co-creating energy ventures. The collaboration will combine IISc’s scientific and research capabilities with the MC² Foundation’s industry network to support the development and scaling of promising energy technologies.
Vikas Kaushal, C&MD, HPCL, said, “MC²+ is a call to India’s innovators to reimagine the future of energy. Through MC²+ IGNITE, we are inviting deep-tech solutions across critical energy themes and connecting innovation with industry to solve real-world challenges.” Sandeep Maheshwari, CEO, MC² Foundation, said the programme would provide startups access to R&D centres, refineries, rigs and other facilities for real-world validation and commercial opportunities. Ajay Mehta, Vice President – Research & Innovation, Shell, said initiatives such as MC²+ IGNITE can help translate promising deep-tech ideas into scalable solutions for India’s evolving energy needs.
Hindustan Petroleum Corporation Limited (HPCL), incorporated on July 15, 1974, is a Maharatna Central Public Sector Enterprise and one of India’s leading integrated refining and marketing companies. The company has a presence across refining, marketing, distribution, research and development, and renewable energy. HPCL is focused on providing safe, reliable and sustainable energy solutions to meet the country’s growing energy needs. Through its operations, infrastructure and customer network, the company plays an important role in strengthening India’s energy security.
With a focus on innovation, operational efficiency and customer service, HPCL continues to invest in its conventional and emerging energy businesses. The company is also supporting India’s transition towards cleaner and more sustainable energy solutions through its growing focus on renewable and alternative energy. As one of India’s major public sector energy companies, HPCL remains committed to contributing to the country’s economic growth while supporting the development of a secure, reliable and sustainable energy future.
