New Delhi, April 5 -- Government-owned oil and gas majors have established robust frameworks to incubate, mentor and fund innovative startups which is reflected in a total of 32 PSU-backed startups participating in the ongoing Startup Mahakumbh 2025 in the national Capital. ONGC's startup fund has seen a 450 per cent growth in valuation over five years, with WellRx - its first oilfield startup under the Startup India Policy - expanding its energy solutions to over 120 countries.

Downstream oil refining and marketing giant Indian Oil has funded 42 startups under its IndianOil Startup Scheme initiative, generating 86 intellectual properties and 635 jobs. Upstream oil exploration and production major Oil India supports deeptech ventures suc...