HDFC Bank gives grants to 21 start-ups, BFSI News, ET BFSI

HDFC Bank, announced the winners of its fourth edition of SmartUp Grants 2021. SmartUp Grants are part of HDFC Bank’s broader initiative to foster the spirit of creativity and enterprise in the start-up space. It is an extension of HDFC Bank’s SmartUp Solution, which provides entrepreneurs with customised banking and advisory services.

The bank collaborated with nine incubators, including IIT Delhi, AIC-Bimtech, IIM Kashipur, IIT BHU, Banasthali University, C-CAMP, GUSEC, T-Hub, and Villgro, to shortlist and mentor the winners. The bank has given out grants worth Rs 19.4 crore in the last four years.

Twenty-one social-impact startups were chosen from 300 applications received across the country after a comprehensive screening process. These grants are intended to support start-ups that deliver unique ideas that will usher in long-term improvement in society and the world. These grants have been offered under the aegis of #Parivartan, the umbrella program for the bank’s social initiatives. The criteria for evaluating start-ups were the potential impact they could deliver on the following parameters: sustainability of the idea, potential to scale up, how does it benefit the society and environment, uniqueness of the Project

Smita Bhagat, Country Head, Government & Institutional Business, e-commerce and start-ups, HDFC Bank, said,” Through the SmartUp programme, we are nurturing the entrepreneurial spirit of the start-up community. We are aware of start-ups developing innovative ways to bring about long-term societal change. Our respect and enthusiasm for start-ups working to make our world more resilient is reflected in these grants.”

Ashima Bhat, group head – CSR, Infrastructure and Finance, HDFC Bank, said” We are honoured to be a part of an inspiring group of start-ups dedicated to meaningful social change. It is also the focus of #Parivartan, our flagship CSR initiative. There are start-ups that are working to improve livelihood, skilling, and working with the challenged sections of society; bringing inclusive change, which is in line with our goal of giving back to the society we live in.”