HDFC Bank has announced the winners of its 4th edition of SmartUp Grants 2021. Some 21 startups working in the social sector were selected through a rigorous screening process from 300 applications received across the country. These grants are aimed to nurture startups offering unique solutions to harbinger sustainable change in society and the environment. The grants have been offered under the aegis of #Parivartan, the umbrella program for the bank’s social initiatives. The bank had instituted SmartUp grants in 2017 and over the past 4 years it has supported 87 startups from various cities across India. Startups working in the fields of education technology and skill development were given priority. To shortlist and mentor the winners, the bank has partnered with 9 incubators such as IIT Delhi, AIC-Bimtech, IIM Kashipur, IIT BHU, Banasthali University, C-CAMP, GUSEC, T –Hub and Villgro. In the past four years the bank has disbursed grants worth ₹19.4 crore.
This year, following the pandemic protocols, screening was done online. Startups pitched their case on a virtual platform. The foremost criteria for evaluating startups were the potential impact they could deliver on parameters including sustainability of the idea, potential to scale up and the extent of benefit the society and the environment will have. Smita Bhagat, Country Head, Government & Institutional Business, eCommerce and Startups at the bank, said through the SmartUp program, the bank is nurturing the entrepreneurial spirit of the startup community to create jobs, opportunities and impact for the society and environment.
