09th May 2024 – India’s premier private sector bank, HDFC Bank, has announced the winners of its Parivartan Startup Grants program for FY2024. A total of 41 incubators and accelerators focusing on social impact entrepreneurship will collectively receive grants worth Rs 19.6 crore to support 170 startups across various sectors.
While the majority of the funded startups are from Maharashtra, others represent states like Uttar Pradesh, Tamil Nadu, Karnataka, Rajasthan, Delhi, and Haryana. Interestingly, over 60 tier II/III cities are home to more than half of these startups.
Nusrat Pathan, head of CSR at HDFC Bank, emphasized the bank’s unwavering commitment to fostering social innovation and driving positive change in communities. The focus areas for the 2024 grants include climate innovation, financial inclusion, agriculture, sustainable rural economy, healthcare, education, livelihood enhancement, and gender diversity and inclusion.
Leading and emerging incubators such as HTIC at IIT Madras, Awadh at IIT Ropar, T-Hub (Hyderabad), FITT – IIT Delhi, and others have been selected as grant recipients. High-impact tracks for this year’s grants were developed in collaboration with various organizations, including the Goa Startup Mission, MoFPI, NSDC, and RBI-H.
Arup Rakshit, group head of treasury at HDFC Bank, expressed satisfaction in supporting social startups driving positive change. He reiterated the bank’s commitment to strengthening India’s startup ecosystem and enabling forward-thinking projects to have a significant impact.
Conclusion
HDFC Bank’s Parivartan Startup Grants reflect its dedication to fostering social innovation and contributing to a sustainable and inclusive future for all.
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