Energy & Sustainability Venture Studio · MC²⁺ Ignite · Cohort 1
India's energy accelerator for deep-tech founders
A sector-specific cohort accelerator for startups decarbonising India's oil-and-gas core and building the energy-transition stack. Organised by IIT Madras, with a launch bootcamp at IIMA Ventures, a build phase across leading research nodes, and real pilots at India's energy majors.
12
startups in the cohort
TRL 4–7
prototype → early pilot
up to ₹2 Cr
convertible debt / startup
10
themes, 50:50 split
0%
priced round to join
What it is
A focused programme for the "awkward middle"
TRL 4–7 is where most Indian energy startups stall — grants run out, customer discovery is hard, and venture capital is still too far away. MC²⁺ Ignite is built precisely for that gap: founder-friendly convertible funding, real infrastructure, procurement pathways, and expert mentoring, over a single tightly-run cohort.
Organiser
IIT Madras
Runs the call for applications and national scouting, curates mentoring across the programme, and organises Demo Day.
Bootcamp & monitoring
IIMA Ventures
Hosts the 7-day residential launch bootcamp in Ahmedabad and monitors every startup's progress through to Demo Day.
Pilots & procurement
The MC²⁺ Team
Catalyses procurement and piloting with India's energy majors — ONGC, IOCL, BPCL, HPCL, GAIL, OIL India and Petronet LNG — on the MC²⁺ platform.
Capital & governance
MC²⁺ Foundation
Provides the milestone-linked convertible funding. The MC²⁺ Fund holds a first right of co-investment in later rounds.
Who should apply
Indian startups, TRL 4–7, in one of ten themes
You should be an Indian-incorporated company (≤ 5 years old, ≤ ₹10 Cr raised) with at least two founders including a technical co-founder, a working prototype or early pilot, and a clear fit with one of the MC²⁺ themes.
Oil & Gas Core (5)
- ▪Refinery decarbonisation
- ▪Upstream / methane emissions
- ▪Petrochemicals
- ▪Digitalisation of O&G
- ▪Worker safety & HSE
Energy Transition (5)
- ▪Green hydrogen & derivatives
- ▪Battery storage & fuel cells
- ▪EV ecosystem
- ▪CCUS & biofuels
- ▪Distributed energy & grid
How it works
From call for applications to Demo Day
A single, tightly-run cohort: 25 days of scouting, 15 days of selection, a 7-day launch bootcamp, a 12-week node-based build, and a Demo Day at IIT Madras.
- 5 Aug 2026 — Applications open. IIT Madras-led national scouting begins.
- 5 Aug–15 Sept — Scouting window. Apply online; no late submissions.
- 16 – 25 Sep — Selection (10 days). Triage → diligence → interviews → final pitch.
- 26 Sep — Cohort of 12 announced. Contracting and onboarding through end-September.
- 1–7 Oct — Launch bootcamp at IIMA Ventures. 7-day residential kick-off; ₹50 lakh convertible debt released.
- 8 Oct – 31 Dec — Node-based build (12 weeks). Mentoring by IIT Madras · monitoring by IIMA Ventures · pilots via the MC²⁺ Team; gate reviews at Weeks 4 & 8.
- 7 Jan 2027 — Demo Day (IIT Madras, Chennai). Organised by IIT Madras; up to ₹1.5 crore convertible released on milestones.
Where you'll work
Bootcamp at IIMA Ventures, then a research node
Host nodes for the build phase:
What you get
How we support the startups
Capital
₹50 lakh upfront + up to ₹1.5 crore
Convertible debt of up to ₹2 crore in total: ₹50 lakh disbursed upfront plus up to ₹1.5 crore released at Demo Day, subject to agreed milestones. Both convert to equity at a 2% per month discount to the price of any external fund-raise of at least ₹2 crore completed within two years.
Infrastructure
Labs across institutions & PSUs
Access to research laboratories and pilot facilities across IIT Kanpur, IIT Madras, C-CAMP, IIT Bombay and the NCL Venture Centre — and at the PSU energy majors.
Procurement & piloting
At India's energy majors
Structured procurement and piloting pathways at ONGC, IOCL, BPCL, HPCL, GAIL, OIL India and Petronet LNG — catalysed by the MC²⁺ Team on the MC²⁺ platform.
Expertise
Training + expert access
A residential training bootcamp at IIMA Ventures, mentoring organised by IIT Madras, and access to technical and domain experts across the technology institutions and the PSUs.
Selection process
How the cohort is chosen
A five-member Selection Committee reduces 300+ applications to a cohort of 12 over 15 days, using a documented rubric.
- 1
Triage (1 – 4 Sep). A binary screen on eligibility — incorporation, founders, documented TRL, theme fit, capital raised. ~120 qualify.
- 2
Diligence (5 – 8 Sep). A two-hour deep dive per applicant — technology review, customer reference checks, founder profiles. 48 longlisted.
- 3
Interviews (9–12 Sep). Structured 20-minute panel interviews (12-min pitch + 8-min Q&A) scored on team & execution, technology & IP, market & offtake, capital & use of funds, and fit & risk. 24 shortlisted.
- 4
Final round (13–15 Sep). In-person pitch days organised by IIT Madras; references finalised; convertible quantum set. 12 selected + 12 reserves.
Good to know
Frequently asked
Do you take equity?
Both the ₹50 lakh upfront and the ₹1.5 crore at Demo Day are convertible debt that convert to equity at a 2% per month discount to the price of any external fund-raise of at least ₹2 crore completed within two years. The MC²⁺ Fund (a separate entity) holds a first right of co-investment in your subsequent rounds at market terms.
Is this a residential programme?
Only the 7-day launch bootcamp at IIMA Ventures is residential. After that, you work from your assigned host node (or a PSU site) for the 12-week build phase, with weekly check-ins and gate reviews.
Who can apply?
Indian-incorporated startups (≤ 5 years old, ≤ ₹10 Cr raised), at least two founders including one technical co-founder, a working prototype or early pilot (TRL 4–7), and a fit with one of the ten MC²⁺ themes.
What does the money depend on?
The ₹50 lakh upfront convertible debt is released at the start against a signed Incubation Agreement. The convertible at Demo Day depends on achieving your Gate 1 and Gate 2 milestones and delivering at Demo Day.
When will I hear back?
All applicants are notified by email no later than 16 September 2026.
Applications open 5 August 2026
The scouting window runs to 31 August 2026. Be honest about your stage, bring evidence not aspiration, and read the application guide before you start.
Apply at www.mc2plus.in ↗MC²⁺ Foundation · Implementation Partner: IIT Madras · Bootcamp Partner: IIMA Ventures · An initiative under the Energy & Sustainability Venture Studio, School of Innovation & Entrepreneurship, IIT Madras