Mumbai: HDFC Bank is inviting applications from start-ups and solo entrepreneurs for SmartUp grants under Parivartan – the bank’s CSR arm.
The Grant aimed at finding and deploying long-term, sustainable solutions at scale, to address social issues and contribute to the economic and social development of the country.
This year, the bank will focus on start-ups creating social impact at scale in sectors such as Education – technology (ed-tech) and skill development, among others.
To screen, mentor, and monitor start-ups, HDFC Bank has partnered with nine start-up incubators registered with Govt of India’s MeitY platfrom. The nine incubators are from premier institutes and include: IIT – Delhi, IIT – BHU, AIC BIMTECH Noida, IIM Kashipur, GUSEC Gujarat, C-CAMP Bangalore, Banasthali University – Jaipur, Villgro Incubation – Chennai, and T – HUB Hyderabad.
How to apply and process
- Start-ups making social impact can send in their applications by clicking here. The application window opens today and closes on Feb 16, 2021.
- Further, the bank’s incubator partners and the SmartUp team will jointly scout for start-ups.
- Bank and incubators will jointly reach out and engage with start-ups through the SmartUp portal hosted on Ministry of Electronics and Information Technology (MeitY’s) platform
- Incubator partners will screen and shortlist applications and the SmartUp team will select finalists.
- Finalists willpitch their start-ups to a jury comprising senior Management of the Bank.
Evaluation criteria
- Market reach, penetration and scalability of product
- Degree of social impact in beneficiaries’ lives
- Economic viability of product at scale
“We begin the new decade with a renewed focus to enable and nurture social sector start-ups,” said Ms. Smita Bhagat, Country Head – Government, E-commerce and Start-ups, HDFC Bank. “Our partnership with incubators will mentor the winners to scale up their ideas. Enterprises working in the social sector are doing a commendable work in changing the lives of millions of Indians. SmartUp grants is one way of offering our support and encouragement in this journey. We want to be a pillar of support for social entrepreneurs who want to bring a positive change to the society.”
