PSU oil and gas majors have put in place strong structures to nurture, mentor and finance innovative start-ups which is evidenced by a total of 32 PSU-supported start-ups that are taking part in the current Startup Mahakumbh 2025 in the national capital.

ONGC's startup fund has grown its value by 450 per cent in five years, with WellRx  the first oilfield startup under Startup India Policy scaling up its energy solutions to more than 120 countries. Downstream oil refinery and marketing behemoth Indian Oil has financed 42 startups under its Indian Oil Startup Scheme program, creating 86 intellectual properties and 635 employees.

Upstream oil production and exploration giant Oil India backs deeptech startups like Caliche Private Limited, which deals in biochemical sand influx control for oil wells, and Carbonation India Private Limited, which works on sustainable waste management solutions for the oil and gas industry. The involvement of expert hands from PSU officials lent valuable inputs to Startup Mahakumbh 2025, providing startups with decades of industry experience and strategic advice.

14 top-ranking executives of PSU oil and gas majors contributed their knowledge on monetization of research, EV innovation, manufacturing integration, and mobility solutions. ONGC chairman also participated in the opening plenary session. Some of the sessions included information on investment strategies in electrification, policy incentives towards EV innovation, last-mile EV mobility acceleration etc.

The event also featured an incubation roundtable called 'From Lab to Market Unlocking Research Monetization' with top executives from BPCL, ONGC, Oil India, GAIL India Limited, EIL and HPCL. After the stupendous success of its first edition, launched by Prime Minister Narendra Modi, Startup Mahakumbh 2025 is being held under the theme of 'Startup India  2047: Unfolding the Bharat Story.'

The event has grown tremendously, with more than 3,000 startups from 11 thematic areas taking part along with over 1,000 investors and incubators, creating an ecosystem that is friendly to innovation and entrepreneurship. Other PSUs are also promoting innovation, as per a statement released by the Ministry of Petroleum and Natural Gas. EIL's EngSUI program has funded 31 startups with Rs 35 crore, investing in industrial enzymes, compostable polymers, and carbon capture.

HPCL's HP Udgam initiative has given 29 startups, such as Maraal Aerospace working on solar-powered long-range drones, Rs 35 crore of seed capital. BPCL's Ankur initiative has funded 30 startups with Rs 28 crore, assisting them in raising $132 million and reaching a combined valuation of $300 million. GAIL's Pankh program focuses on energy, logistics, and industrial technology startups, with businesses exhibiting solutions in pipeline repair, biogas generation, and green materials.

By employing these continuous efforts, the PSUs are creating a technology-enabled and sustainable energy ecosystem, enabling startups to drive India's energy transition and innovation sector, the statement further noted.