Ankur: Energising Startups

A seed is a marvel of nature. When given the right conditions, it awakens with boundless energy, sprouting and unfurling its leaves as it reaches upward, striving to fulfill its potential. At BPCL, we mirror this extraordinary process by fostering innovative ideas and concepts in their crucial early stages. This philosophy is embodied in our startup initiative, 'Ankur', a Hindi word meaning 'sprout'. Through Ankur, we are committed to nurturing groundbreaking ideas, helping them grow and flourish, just like a seed transforming into a thriving plant.

In 2016, BPCL added a new chapter to its illustrious history of energizing the nation by launching “Ankur”. Conceived as a part of the Startup India initiative of the Government of India, Ankur represents a beacon of the new innovation revolution. Through this ambitious endeavor, we are cultivating a supportive ecosystem that fosters entrepreneurship in the country, nurturing innovative ideas to fruition as vibrant startups, and generating a multiplier effect across the ecosystem.

In Phase I, with an initial corpus of ₹25 crore, we have supported 25 startups across various sectors with grant funding of up to ₹1.5 crore per startup. As part of Phase II, we have supported six more startups through BPCL Startup Grandslam Season #1 (a pan-India business challenge for startups) with grant funding of ₹3 crore.

BPCL Ankur Fund

“BPCL Ankur Fund” has been launched for doing equity investments in start-ups. The fund will begin operations with an initial corpus of ₹50 crore.The objective of these investments is to support high potential early-stage startups, mainly working in sectors which are affiliated to our business areas.

To amplify the outreach and effectiveness of Ankur, we are continuously engaging with the startup ecosystem in India, including Startup India, leading academic institutions, incubators, accelerators and venture capital investors.BPCL has signed MOUs with IIM Kozhikode, KIIT Bhubaneswar, IIT Madras, and BCKIC (Bhubaneswar City Knowledge Innovation Cluster) to leverage the startup ecosystem and collaborate with high- quality and potential startups.