HDFC Bank unveiled the laureates of its Parivartan Start-up Grants programme for the fiscal year 2024 on Wednesday.
This year, a total of 41 incubators and accelerators operating in the domain of social impact entrepreneurship are set to receive grants amounting to Rs 19.6 crore to bolster 170 start-ups operating across specific focus areas.
The recipients of the grants represent a diverse spectrum of states across the nation, including Uttar Pradesh, Tamil Nadu, Karnataka, Rajasthan, Delhi, and Haryana, with the highest number hailing from Maharashtra.
Impressively, over half of the 170 selected start-ups originate from over 60 tier II/III cities, emphasizing the programme’s commitment to fostering innovation in grassroots communities.
The grants were awarded to prominent and emerging incubators such as HTIC at IIT Madras, Awadh at IIT Ropar, T-Hub (Hyderabad), FITT – IIT Delhi, RISE Foundation at IISER (Kolkata), VJTI (Mumbai), Forge Forward (Coimbatore), and NTIBIF at NIFTEM (Kindli).
High-impact tracks developed in association with nodal agencies – RBI-H, MoFPI, NSDC, and Goa Start-up Mission – were among this year’s highlights.
“Our Parivartan Start-up Grants programme reaffirms our steadfast commitment to fostering social innovation and driving positive change in our communities. Innovation is the key to addressing the development needs of society,” said Nusrat Pathan, Head CSR, HDFC Bank.
In collaboration with Atal Innovation Mission, a Government of India initiative under NITI Aayog, HDFC Bank’s programme for 2024 targets key sectors including Climate Innovation, Financial Inclusion, Agriculture and Sustainable Rural Economy, Accessible and Affordable Healthcare, Education and Livelihood Enhancement, Gender Diversity, and Inclusion.
Arup Rakshit, Group Head, Treasury, HDFC Bank, said, “We are proud to support social start-ups that are driving positive change in our communities. By also supporting incubators and accelerators, we are committed to developing and strengthening the entire start-up ecosystem in India.”
Now in its seventh year, the Parivartan Start-up Grants programme, since its inception in 2017, has been a significant support for over 400 start-ups, meticulously selected from 120+ incubators nationwide.
