Grants will focus on Climate Innovation, Financial Inclusion, Agriculture, Sustainable Rural Economy, Accessible and Affordable Healthcare, Education, Livelihood Enhancement, and Gender Diversity and Inclusion
HDFC Bank, has announced the winners of its Parivartan Start-up Grants for FY2024. The bank will award Rs 19.6 crore in grants to 41 incubators and accelerators, supporting 170 social impact start-ups.
This year's programme is in partnership with the Atal Innovation Mission, a Government of India initiative under NITI Aayog. Grants will focus on Climate Innovation, Financial Inclusion, Agriculture, Sustainable Rural Economy, Accessible and Affordable Healthcare, Education, Livelihood Enhancement, and Gender Diversity and Inclusion.
The selected start-ups represent various states across India, with the majority from Maharashtra. Over half of the start-ups are based in Tier II/III cities.
“Our Parivartan Start-up Grants programme reaffirms our commitment to fostering social innovation,” said Nusrat Pathan, Head CSR, HDFC Bank. “Through collaborations and investments, we aim to nurture social start-ups across key sectors for a sustainable and inclusive future.”
Grants were awarded to incubators including HTIC at IIT Madras, Awadh at IIT Ropar, T-Hub (Hyderabad), FITT - IIT Delhi, and others. Some impact tracks were developed with nodal agencies like RBI-H, MoFPI, NSDC, and the Goa Start-up Mission.
Arup Rakshit, Group Head, Treasury, HDFC Bank, said, "We are proud to support social start-ups driving positive change. By supporting incubators, we are committed to strengthening the start-up ecosystem in India."
Now in its seventh year, the Parivartan Start-up Grants programme has supported over 400 start-ups nationwide.