Elevate - BPCL Ankur Fund Startup Cohort

BPCL Ankur Fund

Details

Amount

Upto: ₹5,00,00,000

Deadline

December 9, 2025

Provider

BPCL Ankur Fund

About this Opportunity

BPCL Ankur Fund's 'Elevate' cohort invites startups to innovate and transform the energy landscape through equity investments. BPCL is a Fortune Global 500 company committed to achieving Net Zero carbon emissions by 2040 and is looking to expand its presence in Green Energy Businesses and Digital Ventures.

This opportunity is for startups that have developed a Proof of Concept (PoC), Prototype, Minimum Viable Product (MVP), or a fully implemented solution in Oil & Gas or any other industry, and are ready to expand into the Oil & Gas sector.

The focus is on two key themes:

  1. Green Tech: Solutions accelerating the shift towards sustainable energy, enhancing renewable power generation, enabling large-scale carbon capture, advancing green hydrogen adoption, and creating value from industrial by-products.
  2. Cybersecurity & Resilience: Technologies strengthening the security and reliability of Oil & Gas operations by protecting IT/OT systems, safeguarding data, and ensuring business continuity.

BPCL has previously supported 30 startups with grant funding of approximately ₹ 28 crores.

Eligibility

  • Must be registered with DPIIT (Department for Promotion of Industry and Internal Trade) and possess a valid certificate of registration.
  • Must be working under the specified theme/theme categories.
  • Early stage startups (including seed funding).
  • The Founders must hold more than 26% of the equity in the startup.
  • Must have developed a Proof of Concept (PoC)/ Prototype/ Minimum Viable Product (MVP), or a fully implemented solution.

Application Process

  • Initial Screening: A two-stage evaluation process is adopted, starting with screening and filtering based on the eligibility criteria.
  • Second Stage Evaluation: Shortlisting is based on: Innovativeness of the solution, Team / Startup Credentials, Solution and Market size, and Feasibility & Viability.
  • Pitching: Shortlisted startups will pitch to the Committee, which makes the final investment decision.
  • Due Diligence: Final decision is subject to successful completion of due diligence and valuation (assisted by IDBI Capital Market & Securities Ltd.).
  • Investment Mode: Equity/Compulsory Convertible Preference Share (CCPS) etc.
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