HP Udgam is a corporate startup support initiative by Hindustan Petroleum Corporation Limited (HPCL). This program is a startup funding program and not a grant. It provides investment and support to early-stage startups. This program aims to nurture and invest in innovative startups across a diverse range of sectors including energy, sustainability, and digital solutions.
The funding is provided through Compulsorily Convertible Preference Shares (CCPS). A CCPS is a type of equity instrument that gives the investor a stake in the company, which is mandatorily converted into equity shares at a future date. This means HPCL becomes an investor in the startup, taking a share of ownership rather than providing non-repayable grant money.
