HPCL Brings Energy Leaders, Researchers and Startups Together at IISc Bengaluru to Accelerate Energy Innovation through MC²+ IGNITE
Bengaluru: Hindustan Petroleum Corporation Limited (HPCL) hosted the Bengaluru edition of MC²+ IGNITE, India’s flagship energy innovation accelerator, at the Indian Institute of Science (IISc), Bengaluru. The programme brought together leaders from the energy industry, academia, research institutions, startups and the investment ecosystem to discuss opportunities and challenges shaping India’s energy future, with a special focus on bio-energy and compressed biogas (CBG).
The event was attended by senior representatives from across the energy and innovation ecosystem, including Vikas Kaushal, Chairman and 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.
Supporting Deep-Tech Innovation in Energy
Launched on August 19, 2026, MC²+ IGNITE is a sector-specific accelerator aimed at supporting deep-tech startups developing technologies for India’s energy sector. The programme seeks to address a key challenge faced by energy and deep-tech startups—access to operating assets, real-world pilot sites, industry customers and growth capital beyond the early research and grant-funding stage.
The inaugural cohort is expected to comprise around 30 startups, with selected ventures eligible for up to ₹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 compressed bio-gas; refinery process intensification; digital asset management; and an open theme.
The Bengaluru edition was part of the broader effort to connect real-world challenges in the energy sector with research institutions, innovators and startups, creating opportunities for promising technologies to be tested, developed and scaled.
Focus on Bio-Energy and CBG
With bio-energy and CBG as the central theme, the programme explored the role of technology, research and entrepreneurship in unlocking the potential of bio-based energy solutions.
Discussions highlighted the need for stronger collaboration between energy companies, research institutions and startups to develop solutions capable of addressing real-world challenges and moving innovations from the research stage to deployment and commercial scale.
The programme featured an address by Vikas Kaushal, CMD, HPCL, followed by an overview of MC²+ IGNITE and a session on opportunities in the energy sector and R&D themes.
Startup showcases by Maral Aerospace and Magenta EV Solutions also provided emerging technology ventures an opportunity to present their solutions and interact with industry leaders, researchers and investors.
Re-imagining Energy Supply Chains for Strategic Autonomy
A panel discussion titled “Re-imagining Energy Supply Chains and Materials for India’s Strategic Autonomy: A Start-up and Investor Perspective” brought together perspectives from Bharat Innovation Fund, Zippmat, Ventureast and Chara Technologies.
The panel examined how startups and investors can contribute to strengthening India’s capabilities across critical energy supply chains and materials. The discussion focused on the role of innovation, entrepreneurship and capital in advancing India’s strategic autonomy in the energy sector.
It also complemented the programme’s focus on developing indigenous solutions and strengthening collaboration among innovators, industry and the research ecosystem.
MC² Foundation and IISc Bengaluru Sign MoU
A key highlight of the event was the signing of a Memorandum of Understanding (MoU) between the MC² Foundation and IISc Bengaluru to establish a framework for co-creating energy ventures.
The collaboration 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 partnership is expected to further strengthen the industry-academia interface and create pathways for translating research and innovation into solutions aligned with India’s energy priorities.
‘Connecting Innovation with Industry’
Speaking on the occasion, 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 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.”
Sandeep Maheshwari, CEO, MC² Foundation, said that MC²+ is opening access to R&D centres, refineries, rigs and other facilities for real-world validation, along with the potential for startups to secure a first customer at commercial scale. He highlighted the potential of combining startup speed with the scale of Maharatna energy companies to accelerate India’s journey towards energy independence.
Ajay Mehta, Vice President – Research & Innovation, Shell, welcomed the initiative, saying that startups and entrepreneurs would play a critical role in shaping future energy solutions. He noted that initiatives such as MC²+ IGNITE could help translate promising ideas into scalable solutions and create meaningful impact for India’s evolving energy needs.