Elevate - BPCL Ankur Fund Startup Cohort
BPCL's equity funding program for early-stage startups innovating in green tech and cybersecurity for Oil & Gas.
- Funding amount
- ₹5Cr (equity)
- Funding type
- Equity
- Provider
- BPCL (Corporate)
- Application deadline
- Closed (9 Dec 2025)
- Eligible stage
- Any stage
- Location
- Open to startups registered in India
Overview
Elevate - BPCL Ankur Fund Startup Cohort is an equity investment program by BPCL, a Fortune Global 500 company committed to achieving Net Zero carbon emissions by 2040. The program invites startups to innovate and transform the energy landscape, focusing on two key themes: Green Tech and Cybersecurity & Resilience.
Green Tech solutions aim to accelerate the shift towards sustainable energy, enhance renewable power generation, enable large-scale carbon capture, advance green hydrogen adoption, and create value from industrial by-products. Cybersecurity & Resilience technologies strengthen the security and reliability of Oil & Gas operations by protecting IT/OT systems, safeguarding data, and ensuring business continuity.
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. BPCL has previously supported 30 startups with grant funding of approximately ₹ 28 crores.
Highlights
- Equity investment of up to ₹5 crore from BPCL, a Fortune Global 500 company.
- Focus on Green Tech and Cybersecurity & Resilience for Oil & Gas sector.
- Open to early-stage startups with PoC, prototype, MVP, or fully implemented solution.
- DPIIT registration required; founders must hold >26% equity.
- Previous support of 30 startups with ~₹28 crores in grants.
- Application deadline: December 9, 2025.
Who can apply
To be eligible for Elevate - BPCL Ankur Fund Startup Cohort, a startup must:
- Be registered with DPIIT and possess a valid certificate of registration.
- Work under the specified theme categories (Green Tech or Cybersecurity & Resilience).
- Be an early-stage startup (including seed funding).
- Have founders holding more than 26% of the equity in the startup.
- Have developed a Proof of Concept (PoC), Prototype, Minimum Viable Product (MVP), or a fully implemented solution.
Elevate - BPCL Ankur Fund Startup Cohort is open to startups at any stage. It is open to startups registered anywhere in India.
- Eligible stage
- Any stage
- Location
- Open to startups registered in India
Deadline & timing
The most recent application window for Elevate - BPCL Ankur Fund Startup Cohort closed on 9 Dec 2025. Many programmes run repeat cohorts, so it is worth checking the official site for the next round.
What the funding covers
Selected startups receive equity investment of up to ₹5 crore. The investment mode includes equity or Compulsory Convertible Preference Shares (CCPS). The final investment is subject to successful due diligence and valuation, assisted by IDBI Capital Market & Securities Ltd.
About the provider
Elevate - BPCL Ankur Fund Startup Cohort is offered by BPCL, a corporate programme. It is delivered directly by BPCL as a equity. You can verify current details and timelines on the provider's official website before applying.
How to apply
Applications are submitted on the official portal. Confirm the current deadline and document checklist there before you start.
Selection process
The selection process involves:
- Initial Screening: A two-stage evaluation begins with screening and filtering based on eligibility criteria.
- Second Stage Evaluation: Shortlisting based on innovativeness of the solution, team/startup credentials, solution and market size, and feasibility & viability.
- Pitching: Shortlisted startups 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.
Documents you’ll need
Before you apply to Elevate - BPCL Ankur Fund Startup Cohort, keep the following documents ready:
- A pitch deck or short business plan describing the problem, product and traction
- Company registration documents and PAN
- Founder identification (PAN / Aadhaar) and brief profiles
- Recent financial statements or projections
- Product details — a demo, prototype or working link if available
Exact requirements are confirmed on the official application portal — treat this as a preparation checklist.
Who this is best for
Elevate - BPCL Ankur Fund Startup Cohort is best suited for startups in India seeking an equity investment of ₹5Cr. If that describes your startup, review the eligibility criteria above before applying.
Frequently asked questions
How much funding does Elevate - BPCL Ankur Fund provide?
The program provides equity investment of up to ₹5 crore per startup.
What is the application deadline?
The deadline to apply is December 9, 2025.
What types of startups are eligible?
Early-stage startups (including seed funding) that have developed a PoC, prototype, MVP, or fully implemented solution. The startup must work under the specified themes: Green Tech or Cybersecurity & Resilience.
Is DPIIT registration required?
Yes, startups must be registered with DPIIT and possess a valid certificate of registration.
Does the program take equity?
Yes, the funding is provided as equity investment, through equity shares or Compulsory Convertible Preference Shares (CCPS).
What are the founder requirements?
The founders must collectively hold more than 26% of the equity in the startup.
What is the focus area of the program?
The program focuses on two themes: Green Tech (sustainable energy, carbon capture, green hydrogen, etc.) and Cybersecurity & Resilience (protecting IT/OT systems, data, and business continuity in Oil & Gas operations).
How does the selection process work?
The process includes initial screening, second stage evaluation based on innovation and feasibility, pitching to a committee, and final due diligence assisted by IDBI Capital Market & Securities Ltd.
How many startups has BPCL previously supported?
BPCL has previously supported 30 startups with grant funding of approximately ₹28 crores.
How do I apply?
Applications are submitted through the BPCL startup portal at https://startup.bpcl.in/cohorts/elevate.
Who is eligible to apply for Elevate - BPCL Ankur Fund Startup Cohort?
Elevate - BPCL Ankur Fund Startup Cohort is open to startups at any stage. It is open to startups registered anywhere in India.
Who offers Elevate - BPCL Ankur Fund Startup Cohort?
Elevate - BPCL Ankur Fund Startup Cohort is offered by BPCL, a corporate programme. It is provided as an investment.
Alternatives to Elevate - BPCL Ankur Fund Startup Cohort
Not sure Elevate - BPCL Ankur Fund Startup Cohort is the right fit, or already applied? These are other equity open to Indian startups that founders shortlist alongside it.
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