MC²⁺ Foundation, IIT Bombay and SINE Sign MoU to Support Energy Startups with ONGC Collaboration

Key facts

• MC²⁺ Foundation, IIT Bombay and the Society for Innovation & Entrepreneurship (SINE), IIT Bombay, signed a tripartite MoU on September 8, 2026, in Mumbai to give energy-sector startups access to research facilities, funding, mentors and pilot opportunities.
• The MoU was signed during the Mumbai City Connect of the MC²⁺ Ignite energy innovation accelerator, hosted by Oil and Natural Gas Corporation Limited (ONGC) at IIT Bombay.
• ONGC will work with IIT Bombay and SINE across seven energy innovation areas, including AI-driven subsurface intelligence, drilling technologies, hydrogen and mobility, bioenergy, refinery technologies and digital asset management.
• The MC²⁺ Ignite accelerator plans to support up to 30 early-stage startups, offering up to Rs 50 lakh in convertible funding plus Rs 1.5 crore linked to milestones, a potential Rs 2 crore per startup.
• MC²⁺ Ignite was formally launched at IIT Madras on August 19 by Petroleum and Natural Gas Secretary Neeraj Mittal.
• Applications for the inaugural cohort remain open until September 15.