HP Udgam Cohort 2025 – Round 2 is a corporate startup funding program by Hindustan Petroleum Corporation Limited (HPCL). It offers equity investment of up to ₹2.5 crore and may also enable pilot opportunities within HPCL’s business units. Unlike a traditional, non-repayable grant, HP Udgam works as a strategic equity + support initiative under HPCL’s startup program.

The program is meant for startups building solutions in energy transition, digitalisation, sustainability, oil & gas innovation, and related domains such as FinTech, HealthTech, DeepTech, and more—especially where these intersect with energy and industrial applications across India.

This is highly relevant now as India accelerates clean energy, digital infrastructure, and sustainable industry. Large corporates are actively scouting startups to partner with. StartupMandi lists this opportunity in its Grant & Scheme Directory and can help you prepare a strong, investment-ready application for HP Udgam Cohort 2025 Round 2. You can explore the listing here: HP Udgam Cohort 2025 Round II grant listing on StartupMandi.

Quick Grant Snapshot

1. Grant Name / Scheme Name: HP Udgam Cohort 2025 – Round 2
2. Grant Provider / Organisation: Hindustan Petroleum Corporation Limited (HPCL) under its startup initiative “HP Udgam”
3. Sector / Focus Area:
   1. Energy Transition
   2. Digitalisation
   3. Sustainability
   4. Innovation in Oil & Gas
   5. Renewables, Biofuels, E-mobility, Energy Storage
   6. LNG, CGD, CBG
   7. FinTech, HealthTech, DeepTech (especially relevant to the energy value chain)
4. Geography / Eligible Location: India (innovators and startups operating in India)
5. Funding Type: Equity investment (typically via CCPS – Compulsorily Convertible Preference Shares)
6. Maximum Funding / Benefit: Up to ₹2.5 crore per selected startup, subject to HPCL evaluation and investment decisions
7. Other Key Benefits:
   1. Potential pilot projects with HPCL
   2. Mentorship from HPCL experts
   3. R&D/technical support (as applicable)
   4. Visibility and networking opportunities
8. Application Mode: Online via the HPCL Startup Portal (HP Start-up Portal)
9. Application Start Date: Announced as “now open” in early January 2026 via HP Udgam’s official social media channels (exact start date not separately specified)
10. Application Deadline:

1. Originally: 15 February 2026, 11:59 PM
2. Extended: 28 February 2026, 11:59 PM (as per official HP Udgam LinkedIn update)
3. Result / Selection Timeline: Not specified; selection typically follows a multi-stage evaluation and committee presentations

About the Grant Provider

1. HPCL is a Maharatna Public Sector Undertaking (PSU) in the petroleum and natural gas sector.
2. It is headquartered in Mumbai and operates under the Ministry of Petroleum and Natural Gas.
3. HPCL is a subsidiary of ONGC, with majority government ownership.
4. It runs large refineries, a nationwide fuel retail network, LPG distributorships, and expanding CNG/EV charging infrastructure.
5. Through HP Udgam and related initiatives, HPCL partners with startups to solve operational challenges, accelerate energy transition, and adopt advanced technologies across its value chain.

About the Scheme / Grant Program

1. HP Udgam is HPCL’s flagship startup support initiative (launched around 2017–18).
2. It is aligned with the intent of the Government of India’s Startup India mission.
3. The program aims to help innovators:
   1. Build and validate Proof of Concept (PoC)
   2. Run pilots and reduce technology risk
   3. Move towards commercialisation
4. Instead of a non-repayable grant, HPCL supports startups through:
   1. Equity investment
   2. Mentorship and technical guidance
   3. Pilot opportunities and business access
5. Typical focus areas include:
   1. Renewables, biofuels, e-mobility, energy storage
   2. LNG, CGD, CBG
   3. Sustainability and digital innovation in the oil & gas value chain
6. Cohort 2025 – Round 2 is a recent call under this initiative and offers up to ₹2.5 crore plus structured evaluation and potential pilots.

Who Can Apply & Target Group

1) Type of entities

1. Registered companies (generally under Companies Act, 1956/2013)
2. Early-stage startups recognised or recognisable under Startup India norms, building innovative tech solutions

2) Stage of business

1. Early-stage startups with at least a PoC
2. Startups ready for validation, pilots, or early commercialisation
3. Typically prototype/MVP/early revenue stage (not pure idea stage)

3) Sector focus

1. Energy Transition, Digitalisation, Sustainability, Innovation in Oil & Gas
2. Renewables, biofuels, e-mobility, energy storage, LNG, CGD, CBG
3. Digital solutions relevant to HPCL’s business
4. FinTech, HealthTech, DeepTech (especially where linked to energy/industrial needs)

4) Geography

1. Startups operating in India
2. Innovators executing projects and commercialisation in India

5) Special focus groups

1. No explicit reservations mentioned for Round 2
2. HP Udgam has supported diversity-oriented initiatives in other campaigns, but Round 2 does not specify demographic preferences

Detailed Eligibility Criteria

Note: Round-specific eligibility is defined on the HPCL Startup Portal. The points below reflect typical eligibility referenced in public Udgam communications. Always cross-check the live portal before applying.

1) Legal status & registration

1. The applicant should be a company registered under the Companies Act, 1956 or 2013
2. Minimum 51% shareholding should generally be held by Indian citizens/Indian entities (as per typical Udgam eligibility communications)

2) Location & operations

1. Founders should be Indian citizens willing to work in India
2. The startup should execute projects and commercialisation in India

3) Innovation & sector alignment

1. The proposal must show clear product/process innovation
2. The project should align with HPCL’s core business or allied/future areas
3. Themes typically include energy transition, digital, and sustainability

4) Stage & proof of concept (PoC)

1. Preference for projects that validate PoC and reduce technology risk
2. Projects should generate measurable outcomes useful for licensing/investment potential
3. Pure academic/basic exploratory research with no commercial plan is typically not supported

5) In-house capability

1. The startup is expected to have internal R&D/technical capability to execute the project

6) Typical exclusions (as commonly referenced)

1. Ideas with no plan to build saleable products/services
2. Projects lacking novelty/innovation
3. Projects with serious ethical/environment/health/safety (EHS) risks
4. Projects already funded by other companies for the same objectives
5. Pure R&D without clear commercial potential

7) Turnover/age conditions

1. Not clearly specified in publicly available documents for this round
2. Applicants should rely on the HPCL Startup Portal for current conditions

8) Prior funding

1. Previously funded startups may not be automatically excluded
2. However, projects already funded for the same objectives by other companies are typically not supported
3. Where criteria are not explicitly stated, treat them as “Not specified in official documentation”

Funding Support & Benefits

1) Equity funding (core financial support)

1. Equity investment (typically via CCPS) up to ₹2.5 crore per selected startup
2. Funding is subject to due diligence and HPCL committee approvals
3. It is positioned as early-stage capital to validate, pilot, and scale solutions

2) Pilot project opportunities

1. Potential pilots with HPCL business units (depending on fit and approvals)
2. Pilots can build reference value, technical validation, and traction

3) Mentorship & technical support

1. Mentoring from HPCL domain experts and leadership
2. Access to R&D infrastructure, testing, and technical guidance (as required)

4) Visibility & networking

1. Exposure via HPCL networks, events, and showcases
2. Visibility through HP Udgam communication channels

5) Strategic corporate partnership

1. Collaboration potential with a Maharatna PSU
2. Strong credibility and market access for energy-focused startups

Documents Required While Applying

The exact checklist is inside the HPCL Startup Portal form and may change by round. Since the full form may not be visible without login, use the list below as a practical prep guide.

1) Commonly expected (based on Udgam communication + standard requirements)

1. Certificate of Incorporation / Registration (Companies Act 1956/2013)
2. Company PAN card
3. Founders’ KYC details (PAN, Aadhaar or equivalent, as required)
4. Shareholding pattern / cap table (to establish Indian ownership, where applicable)
5. Startup overview note (problem, solution, USP, market)
6. PoC/technical proof (pitch deck, demo links, prototype images, PoC description)
7. Business plan or project proposal (milestones, timelines, budget, commercialisation plan)

2) Typically required (may or may not be mandatory; verify on portal)

1. Financial statements (if available): balance sheet, P&L, cash flow (1–3 years)
2. Company ITRs (if operational)
3. Prior funding details (term sheet/investment agreements, if applicable)
4. IP details (patents/trademarks/copyrights)
5. Incubator/accelerator certificates or awards (if any)
6. Office address proof (utility bill/rent agreement/NOC, if required)

How to Apply (Step-by-Step)

1. Go to the official HPCL Startup Portal
   • Open the HP Udgam / Startup Fund section on the HPCL startup portal
   • Find “HP Udgam Cohort 2025 – Round 2” or use the official “Apply here” link from HP Udgam social posts
2. Create an account or sign in
   • New users: register with email, mobile number, and basic company details
   • Existing users: log in and select the Round 2 form from the dashboard
3. Open the specific Round 2 application form
   • Navigate to HP Udgam / Startup Fund
   • Read the eligibility, focus areas, FAQs, and instructions carefully
4. Fill in organisation details
   • Company legal name, CIN, incorporation date, registered address, and contacts
   • Founder/promoter details
   • Shareholding pattern, Indian ownership percentage, existing investors
5. Describe your startup and solution
   • Problem statement and why it matters
   • Solution and innovation (what’s unique and defensible)
   • Target market and business model
   • Traction (PoC results, pilots, customers, revenue—if any)
   • Clear fit with HP Udgam focus areas and HPCL’s value chain
6. Submit project proposal and use of funds
   • Project objectives, pilot plan, milestones, timelines
   • Expected outcomes and measurable success metrics
   • Funding ask (up to ₹2.5 crore) and detailed use of funds
7. Upload documents
   • Pitch deck (PDF)
   • Incorporation and PAN documents
   • Financials (if available)
   • IP documents (if any)
   • Supporting certificates/attachments as required by the portal checklist
   • Follow file format and naming guidelines to avoid upload errors
8. Review and submit
   • Recheck every field for consistency with your documents
   • Submit on the portal
   • Save the on-screen acknowledgement and any email confirmation
9. Application fee
   • No fee is mentioned publicly
   • Treat it as “likely no fee” and confirm on the official portal page
10. Post-submission evaluation

• Shortlisted startups may be invited for presentations
• Evaluation often involves two stages with high-level HPCL committees before the investment decision

Practical tip: Prepare your pitch deck, financial model, and a one-page summary before starting the form. It helps you keep answers consistent and avoids last-minute errors.

Important Dates & Timeline

1. Application Start (Round 2): Announced as open in January 2026 via HP Udgam LinkedIn communication (exact opening date not separately stated)
2. Application Deadline (extended):
   1. Initial: 15 February 2026, 11:59 PM
   2. Extended: 28 February 2026, 11:59 PM (per official LinkedIn extension post)
3. Evaluation period: Not specified; described as multi-stage, including committee presentations
4. Selection announcement: No fixed date stated; depends on internal schedules and volume of applications
5. Recommendation: Track updates on the HPCL Startup Portal and official HP Udgam channels, since timelines can shift (as seen in the deadline extension)

Key Things to Keep in Mind While Applying

1. Show strong alignment with HP Udgam themes
   • Link your use-case to energy transition, digitalisation, sustainability, or HPCL value chain needs
   • Avoid a generic pitch with weak HPCL relevance
2. Keep the story crisp and measurable
   • Define the problem in numbers
   • Explain why your approach is better in simple language
3. Highlight traction and validation
   • PoC results, pilot outcomes, user feedback, early revenue—anything real helps
   • Even small validations matter for an equity-based program
4. Ask realistically and link funding to milestones
   • Tie ₹ amount to clear activities and deliverables
   • Show what will be achieved during the Udgam support period
5. Keep form and documents consistent
   • Names, dates, shareholding, and financials must match across all materials
   • Inconsistencies create due diligence red flags
6. Follow instructions and submit early
   • Many good applications fail due to missing attachments or formatting issues
   • Submitting early gives time to fix portal errors

How StartupMandi Can Help You

StartupMandi curates verified grant, funding, and scheme opportunities—like HP Udgam Cohort 2025 – Round 2—so founders don’t miss relevant calls. For a structured, equity-driven program by a large PSU like HPCL, expert support can significantly improve your application quality and readiness.

1. Eligibility and fit assessment
   1. Match your startup’s sector, stage, and structure to Round 2 requirements
   2. Validate whether this is strategically worth pursuing
2. Application strategy
   1. Decide the best HPCL-aligned use-case to pitch
   2. Position your solution clearly around energy/digital/sustainability priorities
   3. Build a realistic funding ask narrative
3. Document and narrative refinement
   1. Improve pitch deck clarity and investor readiness
   2. Draft/polish project proposal, financial model, and one-page summary
   3. Make your PoC/pilot plan strong and credible
4. Professional form-filling support
   1. Organise statutory documents, shareholding details, and proofs
   2. Ensure clean, consistent data across the portal form and uploads
5. Evaluation preparation
   1. Prepare for committee presentations
   2. Sharpen story, numbers, and responses to technical/investor-style questions

To apply professionally, connect with StartupMandi Experts and open the HP Udgam Cohort 2025 Round II listing on StartupMandi to get started with tailored assistance.

Frequently Asked Questions

Conclusion

HP Udgam Cohort 2025 – Round 2 is a strong opportunity for Indian startups in energy, sustainability, digital, and adjacent deep-tech domains. It can offer up to ₹2.5 crore in strategic equity funding, plus real pilot and mentorship access within HPCL. Because it’s an equity investment program run by a Maharatna PSU, the bar for clarity, execution capability, and documentation is high. If you fit the themes and stage, organise your materials early and apply with a well-structured, investment-ready submission—ideally with expert support from StartupMandi.