HDFC Bank awards Rs14.5 crore to 85 start-ups in 5th Parivartan grants

25 Mar 2022 , 02:45 PM

HDFC Bank today announced the winners of its 5th annual SmartUp Parivartan Grants 2022. HDFC Bank awarded grants to 85 innovative start-ups focused on addressing problems facing environment, healthcare sectors and gender diversity.

These grants are aimed to nurture start-ups offering unique solutions to bring about sustainable change in society and the environment. These grants have been offered under the aegis of #Parivartan, the flagship CSR program for the bank’s social initiatives.

To shortlist and mentor the winners, the bank partnered with 28 incubators, including IIM-B, ISB, AIC Ncore Developmental Impact Foundation , KIIT-Technology Business, Amrita Technology Business Incubator, International Institute of Information Technology, and Social Entrepreneurs Foundation India, among others. These incubators, along with the bank, selected 85 start-ups from a pool of over 150 applicants from across the country working in varied sectors through a rigorous screening process.

Some of the winning pitches were made by Vidcare Technologies, Zini the healthcare AI, Eco Deco, Ayang Trust, Navoday Foundation, and Felis Leo Ventures. The winners are solving diverse problems, from women empowerment, to creating bio-degradable batteries, to upskilling, to recycling and much more.

The bank instituted SmartUp Grants in 2017 and since then supported ~90 number of start-ups from various cities across India. Cumulatively, over the past five years, the bank has disbursed grants worth approx. Rs35 crore.

This year too, following the pandemic protocols, screening was done online. Start-ups made their pitch on a virtual platform. The foremost criteria for evaluating start-ups were the potential impact they could deliver on the following parameters: