Bharat Petroleum Corporation Limited (BPCL) is a well-established Maharatna Public Sector Undertaking (PSU) and a Fortune Global 500 company that has earned a major international brand name by being ranked among the Global Top 100 Corporate Startup Stars (CSS) in the world. This award is given by the International Chamber of Commerce (ICC) and Mind the Bridge to honor worldwide the best corporate champions who show a strong dedication to active partnership with startups. Notably, BPCL is the sole Indian organisation that has made it in this prestigious world ranking, which highlights its innovation in the open innovation space in the country.

Recognition and core mechanism

The Corporate Startup Stars Awards 2025 were announced during a formal event that was organised at the headquarters of the International Chamber of Commerce, based in Paris. These recognitions are intended to honor the 100 best companies, chosen by the Forbes Global 2000 and Fortune Global 500 lists, which have demonstrated a very strong sense of open innovation, a strong startup interest, and ecosystem creation. This awareness makes BPCL one of the most popular corporations in the world due to its strategic attitude towards exploiting outside, innovative solutions.

The fundamental process of successful involvement of BPCL in the startup world is its special program called Ankur. This program was formally introduced in 2016 and, in the course of its existence, has already supported 30 startups in a significant way. These initiatives provide new solutions in the broad spectrum of emerging and critical areas of the energy industry, including Robotics, Artificial Intelligence, Machine Learning, Asset Integrity, Industrial IoT, Inspection, Predictive Maintenance, and Safety Technologies.

BPCL has also created a long-term strategy to develop external innovation by creating the ‘BPCL Ankur Fund.’ The special fund is particularly required to deploy capital in engaging promising startups in the early stages that are strategic to the future roadmap of BPCL and its strategic priorities in the short term. The two-fold strategy of operating the Ankur accelerator program and investing in equity capital under the Ankur Fund is a comprehensive and long-term investment in innovation.

The Chairman and Managing Director, BPCL, Shri Sanjay Khanna, said, “We are honoured to be recognised among the 2025 Top 100 Corporate Startup Stars. This global accolade is a testament to Bharat Petroleum’s commitment to building an open innovation ecosystem that fosters entrepreneurship in the country. Through our startup initiative ‘Ankur’, we are catalysing breakthrough solutions that will make energy cleaner, smarter, and more sustainable. As BPCL marks its 50th year of shaping the future of energy, we remain committed to partnering with startups to advance technologies that will accelerate India’s energy transition and strengthen BPCL’s position as an integrated energy company of the future.”

The Secretary General, ICC, on congratulating the winner, John W H Denton AO, said, “Innovation remains the cornerstone of global economic growth. ICC is proud to support businesses that drive meaningful impact through collaboration from emerging startups to established corporations working together to shape the future of global commerce.”

The Chairman, Mind the Bridge, Alberto Onetti, said, “BPCL is a strong case of how a large corporation can strategically drive innovation by partnering with startups and investing in them. Through Project Ankur, BPCL has developed a platform that accelerates the adoption of new technologies, while nurturing early-stage entrepreneurs in India’s evolving energy sector through initial grants. To further this goal, BPCL launched the BPCL Ankur Fund, which enables strategic investments in startups by providing equity funding. This approach allows startups to scale their solutions within the BPCL ecosystem.”

Quotations Source: The Tribune India  

Conclusion

This international reputation of BPCL is an indicator of the effectiveness of its internal adherence to the open innovation paradigm, namely, it is the leader of the corporate interaction with the global startup community. The ICC and Mind the Bridge success confirms the success of BPCL in terms of its Ankur initiative as a strong driver of technological innovation. Having BPCL as an exclusive Indian representative of Top 100 Corporate Startup Stars is a potent statement of the increasing strength of the country regarding its capacity to connect big industry with the most innovative entrepreneurial creativity.