MC²+ Launches Ignite Programme for Energy Startups

MC²+ Ignite is a sector-specific accelerator programme for deep-tech startups in India’s energy sector. MC²+, a brand of MC² Foundation, launched the programme on 19 August 2026 at IIT Madras, with participation from the Ministry of Petroleum and Natural Gas, oil and gas public sector undertakings, and bp India.

MC² Foundation and Energy Innovation

MC² Foundation was created to pool technology problem statements from India’s oil and gas majors on a single platform. The foundation works with public sector undertakings and research institutions to reduce duplication in research and investment across the energy value chain.

Programme Structure and Funding

MC²+ Ignite plans to select about 30 startups at the prototype-to-early-pilot stage for its first cohort. Selected startups can receive up to ₹2 crore in milestone-linked convertible funding, with up to ₹50 lakh as initial funding and up to ₹1.5 crore as milestone-based funding.

The accelerator will be headquartered in Delhi and will use decentralised nodes inside the R&D centres of sponsoring PSU companies. These nodes will provide startups access to pilot sites for testing energy technologies in operational settings.

Institutional Partners and Sector Participation

The programme has institutional partnerships with IIT Madras, IIT Kanpur, IIT Kharagpur, IIT Bombay, C-CAMP, and Venture Center, Pune. These institutions are linked with laboratory infrastructure, mentoring, and technical support for startups working in energy deep-tech areas.

Sponsoring oil and gas public sector undertakings include ONGC, Indian Oil, BPCL, HPCL, GAIL, Oil India, and Petronet LNG. The participating PSUs are expected to commit ₹70–80 crore to the platform in its first year.

Important Facts for Exams

• Deep-tech startups use advanced scientific and engineering research in areas such as energy, materials, artificial intelligence, and biotechnology.
• IIT Madras is an Institute of National Importance under the Institutes of Technology Act, 1961.
• ONGC, Indian Oil, BPCL, HPCL, GAIL, Oil India, and Petronet LNG are major Indian energy sector public sector undertakings.
• Convertible funding is a financing instrument that can convert into equity under specified conditions.

Application Window

The application window for the first cohort opened on 5 August 2026 and is scheduled to close on 31 August 2026. The programme is designed for startups at the prototype and early-pilot stages in India’s energy sector.