ONGC Hosts MC²⁺ Ignite Mumbai City Connect at IIT Bombay; Tripartite MoU Signed
Applications for the inaugural MC²⁺ Ignite cohort are open until 15 September 2026.
Oil and Natural Gas Corporation Limited (ONGC), in association with MC²⁺ Foundation, hosted the Mumbai City Connect of MC²⁺ Ignite, an energy innovation accelerator, at IIT Bombay on 8 September 2026, bringing together stakeholders from the energy industry, academia, research and the startup ecosystem.
The programme was led by ONGC Chairman & CEO Arun Kumar Singh and featured Prof. Aniruddha B. Pandit, Vice Chancellor, Institute of Chemical Technology (ICT), Mumbai, as keynote speaker. IIT Bombay Director Prof. Shireesh Kedare and senior ONGC, MC²⁺, SINE and academic representatives also participated.
Tripartite MoU signed at IIT Bombay
A key outcome of the Mumbai City Connect was the signing of a tripartite MoU between MC²⁺ Foundation, IIT Bombay and the Society for Innovation & Entrepreneurship (SINE), IIT Bombay.
The partnership aims to strengthen collaboration among industry, academia and startups by providing innovators access to R&D facilities, laboratories, mentors, funding, market opportunities and real-world pilot projects.
As a partner PSU in the MC²⁺ ecosystem, ONGC will work with IIT Bombay and SINE across AI-driven Subsurface Intelligence and six other energy innovation themes. The collaboration is intended to help promising technologies move from research and development through validation and pilot projects to deployment and commercialisation.
Up to ₹2 crore support for startups
MC²⁺ Ignite will support up to 30 high-potential early-stage startups. Selected startups can receive up to ₹50 lakh in convertible funding and up to ₹1.5 crore in milestone-based funding, providing potential financial support of up to ₹2 crore per startup.
The accelerator’s seven focus areas are:
- AI-driven Subsurface Intelligence
- Next-generation drilling and well completion technologies
- Hydrogen and mobility
- Bioenergy, with a focus on Compressed Biogas (CBG)
- Refinery process intensification and catalysis
- Digital asset management
- Other innovations relevant to the energy sector
The programme also featured a panel discussion and startup showcase involving Sagar Defence, String Bio, WellRx, AngelBot AI and VDT Pipeline Solutions, highlighting technology development journeys and opportunities for scaling innovations within the energy industry.
Multi-city outreach for energy innovation
MC²⁺ Ignite was formally launched at IIT Madras on 19 August 2026 by Dr. Neeraj Mittal, Secretary, Ministry of Petroleum & Natural Gas and Chairman, MC² Foundation, in the presence of leaders from major oil and gas companies and partner institutions.
The Mumbai City Connect follows the Pune City Connect held on 3 September 2026 and is part of the accelerator’s nationwide outreach programme.
MC²⁺ Foundation brings together energy companies, academic and research institutions, startups and innovators to facilitate the development, validation, deployment and commercialisation of technologies relevant to India’s energy sector.
