HDFC Bank launches 5th Parivartan SmartUp Grants

Budget allocated for grants up to Rs 15 crore

Udaipur : HDFC Bank opened applications for its fifth edition of SmartUp grants. This annual programme awards funds to social start-ups and incubators under #Parivartan,HDFC Bank’s umbrella for its corporate social responsibility. This year the bank has allocated up to Rs 15 crore toward SmartUp grants.

The Bank intends to select 12-15 incubators and around 50 start-ups working in the environment, healthcare, gender and diversity sectors. The deadline to submit applications is the third week of November, 2021 and winners will be declared in February, 2022

So far, the Bank has disbursed Rs 20 crore through 22 incubator partners to 90 start-ups cumulatively across segments like agri business, ed-tech, waste management, healthcare, and skill development.

“SmartUp grants are meant to support and nurture social entrepreneurs,” said Ashima Bhat, Group Head CSR, Business Finance and Infrastructure, HDFC Bank. “India needs innovative businesses to address needs of the society. We strive to discover and nurture both start-ups and incubators working in three focus areas: Environment – Conservation of the natural world; Health – Improving Healthcare​; and Gender Diversity – Improving gender equality​.This is aligned with some of the larger strategic goals of our Parivartan programme,” she added.

“Startups are reimagining and reshaping the world we live in. At HDFC Bank, we are committed to developing, strengthening and collaborating with the start-up community and ecosystem in India,” said Smita Bhagat, Country Head, Government & Institutional Business, E-Commerce &Startups, HDFC Bank. “By inviting incubators to pitch this year, we are expanding and deepening our reach across the country. We are confident this approach willenhance funding opportunities for more start-ups and social entrepreneurs,” she added.

Shortlisted incubators and start-ups will be announced by November-end and would be invited to pitch to the screening panel, comprising top management of HDFC Bank. Due diligence for shortlisted entities will start from December and the final winners will be announced in February, 2022.

For the current year, the bank is proposing 2 different approaches to disburse up to Rs 15 crore. They are:

  • the eligible incubators as per Schedule VII of The Companies Act, 2013 and The Companies (Corporate Social Responsibility Policy ) Rules 2014 will pitch their capabilities to execute the grant process based on the CSR program requirements, in the application the incubators will also provide a long list of startups that align with program focus areas.

Startups eligible under Schedule VII of The Companies Act, 2013 and The Companies (Corporate Social Responsibility Policy) Rules 2014 and working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation can apply.

Related posts:

एचडीएफसी बैंक का शुद्ध लाभ 18 प्रतिशत बढा
HSIL ANNOUNCES ‘PHONE UTHAO CLASS CHALAO’ INITIATIVE TO ENABLE UNINTERRUPTED EDUCATION IN SCHOOLS IN...
हिन्दुस्तान जिंक की रामपुरा आगुचा माइंस को 2022 ग्रीन मैपल पिनेकल अवार्ड
बैंक ऑफ बड़ौदा द्वारा उच्च ब्याज दरों के साथ बॉब मानसून धमाका जमा योजना का शुभारंभ
हिन्दुस्तान जिंक के सीईओ मिश्रा अंतरराष्ट्रीय जिंक एसोसिएशन के पहले भारतीय कार्यकारी अध्यक्ष मनोनीत
बूस्ट के नए टीवीसी में महेंद्रसिंह धोनी के साथ महिला एथलीट युवा लड़कियों को देगी क्रिकेट खेलने की प्...
Indian Bank Organized Mega Retail Disbursement Camp under FGMO Delhi
एचडीएफसी बैंक ने कोविड वैक्सीन के नाम पर हो रही धोखाधड़ी से जागरूक किया, चलाया अभियान
सखी महिलाएं अपने उत्पादों को समृद्ध कर उद्योग का रूप दे- सुनील दुग्गल
ZINC FOOTBALL ACADEMY KICKS-OFF 2022 IN STYLE, WINS ELITE YOUTH CUP IN GUJARAT
एचडीएफसी बैंक की को-ब्रांडेड क्रेडिट काड्र्स लॉन्च के लिये पेटीएम से साझेदारी
अनिल अग्रवाल फाउण्डेशन की पहल नंदघर सर्वश्रेष्ठ सीएसआर अवार्ड से सम्मानित

Leave a Reply

Your email address will not be published. Required fields are marked *