The Ministry of Petroleum and Natural Gas (MoPNG) has reported remarkable success in its startup initiatives, highlighted by ONGC’s startup fund achieving a 450 percent valuation growth over the past five years. The ministry noted that WellRx, the first oilfield startup recognized under the Startup India Policy, has extended its energy solutions to over 120 countries, showcasing India’s expanding energy innovation ecosystem. IndianOil’s IndS_UP initiative has made significant contributions by funding 42 startups that have collectively generated 86 intellectual properties and created 635 jobs.
Meanwhile, Oil India is supporting deeptech ventures such as Caliche Private Limited, which focuses on biochemical sand influx control for oil wells, and Carbonation India Private Limited, which develops sustainable waste management solutions for the oil and gas sector. At the Startup Mahakumbh 2025, held from April 3 to 5 at Bharat Mandapam, New Delhi, the ministry facilitated the participation of 32 PSU-backed startups and emphasized the value added by expert involvement from PSU officials, who provided industry insights on various topics including research monetization, EV innovation, and mobility solutions. The Chairman of ONGC was present at the opening plenary session, while discussions included investment strategies for electrification and pathways to commercialize research innovations in a notable incubation roundtable featuring senior executives from leading oil and gas companies.
