(TSG)
ONGC’s startup fund has seen a 450 per cent growth in valuation over five years, according to a release by the Ministry of Petroleum and Natural Gas (MoPNG). As per the ministry, WellRx, the first oilfield startup under the Startup India Policy, is expanding its energy solutions to over 120 countries.
IndianOil has funded 42 startups under its IndS_UP initiative, generating 86 intellectual properties and 635 jobs. Oil India supports deeptech ventures such as Caliche Private Limited, which specialises in biochemical sand influx control for oil wells, and Carbonation India Private Limited, which develops sustainable waste management solutions for the oil and gas sector, the ministry said.
The Ministry of Petroleum and Natural Gas has actively participated in Startup Mahakumbh 2025, being held from April 3 to 5 at Bharat Mandapam, New Delhi. Oil and Gas PSUs have established robust frameworks to incubate, mentor, and fund innovative startups. A total of 32 PSU-backed startups are participating in Startup Mahakumbh 2025. The release added that the expert participation from PSU officials added significant value to Startup Mahakumbh 2025, offering startups access to decades of industry experience and strategic insights.
A total of 14 senior executives from leading PSU oil and gas companies shared their expertise on research monetisation, EV innovation, manufacturing integration, and mobility solutions. Chairman, ONGC was part of the opening plenary session. Other sessions featured insights on investment strategies for electrification, policy incentives for EV innovation, acceleration of last-mile EV mobility, etc..The event also hosted an incubation roundtable titled “From Lab to Market – Unlocking Research Monetisation,” featuring senior executives from BPCL, ONGC, Oil India, and HPCL.
