HPCL’s MC²+ IGNITE Targets Deep-Tech Energy Scaling at IISc Bengaluru

Bengaluru, September 8, 2026: The Hindustan Petroleum Corporation Ltd.  today hosted the Bengaluru edition of MC²+ IGNITE – India’s flagship energy innovation accelerator at the Indian Institute of Science (IISc) Bengaluru, bringing together leaders from the energy industry, academia, research, startups and the investment ecosystem to deliberate on the opportunities and challenges shaping India’s Energy future based on various themes including Bio- energy.

The programme brought together senior representatives from across the energy and innovation ecosystem, including Vikas Kaushal, Chairman & Managing Director, Hindustan Petroleum Corporation Limited (HPCL); Ajay Mehta, Vice President – Research & Innovation, Shell; Mr. 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 a sector-specific accelerator designed to support deep-tech startups developing technologies for India’s energy sector. The programme has been created to address a critical gap faced by energy and deep-tech startups — access to operating assets, real-world pilot sites, industry customers and growth capital after the early research and grant-funding stage.

The inaugural cohort will comprise approximately 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 programme forms part of this larger effort to connect energy-sector problem statements with research institutions, innovators and startups, creating pathways for technologies with potential sectoral impact to be tested, developed and scaled.

With bio-energy and CBG as the central theme, the event explored the role of technology, research and entrepreneurship in unlocking the potential of bio-based energy solutions and strengthening India’s evolving energy ecosystem. Discussions focused on the need for greater collaboration between energy companies, research institutions and startups to develop solutions that can address real-world challenges and move from research and innovation towards deployment and scale.

The programme also 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.

The event featured startup showcases by Maral Aerospace and Magenta EV Solutions, providing emerging technology ventures with an opportunity to present their solutions and engage with industry leaders, researchers and investors.

Re-imagining energy supply chains for strategic autonomy

The programme also featured a panel discussion titled “Re-imagining Energy Supply Chains and Materials for India’s Strategic Autonomy: A Start-up and Investor Perspective.” The discussion brought together perspectives from Bharat Innovation Fund, Zippmat, Ventureast and Chara Technologies.

The panel examined the role that startups and investors can play in strengthening India’s capabilities across critical energy supply chains and materials. It brought a startup and investor perspective to the larger question of how innovation, entrepreneurship and capital can contribute to India’s strategic autonomy in the energy sector. The discussion also complemented the event’s focus on developing indigenous solutions and building stronger links between innovators, industry and the research ecosystem.

MC² Foundation and IISc Bengaluru sign MoU to co-create energy ventures

A key highlight of the event was the signing of an MoU between the MC² Foundation and IISc Bengaluru to establish a framework for co-creating energy ventures. The collaboration will bring together 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 further strengthens the industry-academia interface and creates opportunities to translate research and innovation into solutions aligned with India’s energy priorities.

Quote from Vikas Kaushal, C&MD HPCL,

“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.”

Quote:  Sandeep Maheshwari – CEO, MC² Foundation

Through MC²+, HPCL and All other Partner Energy Majors are opening access to our R&D Centre, our refineries, rigs and other facilities for real-world validation, and the assurance of a first customer at commercial scale. Put the speed of a start-up together with the scale of a Maharatnas, energy independence arrives a great deal faster than either of us could manage alone.

Quoate: Ajay Mehta, VP, Research & Innovation, Shell,

“MC²+ Ignite is a welcome step towards strengthening India’s deep-tech and energy innovation ecosystem. At Shell, we believe startups and entrepreneurs will play a critical role in shaping future energy solutions. Initiatives such as MC²+ Ignite can help translate promising ideas into scalable solutions and create meaningful impact for India’s evolving energy needs.”