BPCL invests Rs 88 crore to support over 30 startups: Hardeep Puri

IANS May 19, 2025 283 views

India's energy sector is witnessing a remarkable transformation through strategic startup investments. Union Minister Hardeep Singh Puri highlighted BPCL's significant Rs 88 crore commitment to support over 30 innovative startups across critical sectors. These investments align perfectly with Prime Minister Narendra Modi's vision of an Atmanirbhar Bharat, empowering young entrepreneurs to drive technological breakthroughs. The initiative demonstrates India's commitment to fostering innovation and creating a robust startup ecosystem that can solve complex challenges in energy, healthcare, and technology.

"India's startup ecosystem is booming, driving growth and innovation across multiple sectors" - Hardeep Singh Puri
New Delhi, May 19: Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said on Monday that Bharat Petroleum Corp Ltd (BPCL) has so far invested Rs 88 crore to support more than 30 startups in the fields of energy, healthcare, agriculture and AI.

Key Points

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BPCL invests Rs 88 crore supporting over 30 innovative startups

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Project Ankur fuels entrepreneurship under Modi's Atmanirbhar vision

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Startups focus on energy, healthcare, agriculture and AI technologies

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Government backing accelerates India's innovation landscape

In a post on X social media platform, the Union Minister said that BPCL is empowering youth to become job creators and leaders.

“India’s startup ecosystem is booming, driving growth and innovation across multiple sectors,” said Puri.

BPCL’s 'Project Ankur' is fuelling this momentum, guided by PM Narendra Modi’s vision of an Atmanirbhar Bharat. Rs 88 crore invested to support 30+ startups in energy, healthcare, agriculture and AI,” the minister added.

He further said that BPCL is ensuring breakthrough innovations like fuel-flexible turbines and carbon dioxide-to-methanol conversion.

“Together, we are building an India that leads in innovation and opportunity,” he noted.

Earlier, the Union Minister informed that Hindustan Petroleum Corporation Ltd (HPCL) is fuelling the Indian startup ecosystem, and has invested Rs 27 crore to empower 28 startups to date.

HPCL’s ‘Udgam’ initiative has raised Rs 35 crore so far to support startups in the field of clean and green energy.

“India's energy future is being shaped by innovation. HPCL’s ‘Udgam’ initiative is empowering startups working on green hydrogen and ethanol, smart LPG cylinders and emission control, IoT solutions and cashless technologies and waste-to-energy and carbon capture,” Puri posted on X social media platform.

“Thanks to Prime Minister Narendra Modi’s Startup India initiative, which continues to fuel innovation across the country,” he added.

Oil India Limited is also supporting 15 startups related to various fields like design of hydrogen fuel cell-based e-bus and design of wireless robot for oil well inspection and multi-functional oil and gas operations with a startup fund of Rs 50 crore, the Union Minister informed.

—IANS

Reader Comments

R
Rahul K.
This is fantastic news! Investing in startups is the way forward for India's energy independence. BPCL's focus on green tech like carbon capture shows they're thinking long-term. Hope more PSUs follow this model 🇮🇳
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Priya M.
While the initiative is good, I hope there's proper monitoring of how these funds are utilized. We've seen many startup funds disappear without tangible results. Accountability is key!
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Amit S.
Great to see traditional oil companies embracing innovation! The fuel-flexible turbine tech mentioned could be a game-changer for our energy sector. More power to our scientists and entrepreneurs 👏
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Neha T.
As someone working in renewable energy sector, this gives me hope! But wish they'd disclose which startups got funded - transparency will build more trust in such programs.
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Vikram J.
₹88 crore for 30 startups sounds good on paper, but comes to less than ₹3cr per startup on average. Hope they're also providing mentorship and market access, not just funds. Startups need holistic support!
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Sunita R.
Love the focus on agriculture and healthcare startups alongside energy. India needs innovation across all critical sectors. Maybe next they can support rural women entrepreneurs? That would be truly inclusive growth!

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Tags:
BPCL Hardeep Puri Startup India Innovation Energy Startups Narendra Modi Entrepreneurship