HDFC Bank issues SmartUp Grants to 21 social sector start-ups

HDFC Bank

Private lender HDFC Bank today announced the winners of its fourth edition of SmartUp Grants 2021. Out of 300 applications received from across the country, 21 startups working in the social sector were selected through a rigorous screening process from 300 applications received across the country.

The communique stated that the grants are aimed to nurture start-ups offering unique solutions to harbinger sustainable change in society and the environment.

The bank instituted SmartUp grants in 2017 and over the past 4 years it has supported 87-number of 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 partnered with nine 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 Rs 19.4 crore.

 “The SmartUp grants are part of the Bank’s commitment to strengthen our relationship with the start-up ecosystem in India. Through the SmartUp programme, we are nurturing the entrepreneurial spirit of the start-up community to create jobs, opportunities and impact for the society and environment. We equip them with smart financial tools, advisory services and technology to help them realise their vision. We are aware of start-ups working on innovative solutions to bring a sustainable change in the society. These grants are our admiration and support to start-ups working to make our society resilient,” said Smita Bhagat, Country Head, Government & Institutional Business, e-commerce and start-ups, HDFC Bank.

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 “We are happy to be part of an incredible league of start-ups looking to bring about positive social change. It is also what #Parivartan, our flagship CSR programme, is about. There are start-ups working in enhancing livelihood, skilling and working with the challenged sections of the society; bringing inclusive change which is in sync with our objective to give back to the society we live in,”said Ashima Bhat, group head – CSR, Infrastructure and Finance, HDFC Bank.

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