Private lender HDFC Bank has invited applications from start-ups and solo entrepreneurs for its startups Up grants.
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 Indias 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 for HDFC StartUp grants
Start-ups making social impact can send in their applications by clicking here.
The application window opens on and closes on February 16, 2021.
Further, the banks incubator partners and the Smart Up team will jointly scout for start-ups.
Bank and incubators will jointly reach out and engage with start-ups through the Smart Up portal hosted on Ministry of Electronics and Information Technology (MeitY's) platform.
Incubator partners will screen and shortlist applications and the Smart Up team will select finalists.
Finalists will pitch their start-ups to a jury comprising senior Management of the Bank.
What is the Evaluation criteria for HDFC SmartUp grants
Market reach, penetration and scalability of product
Degree of social impact in beneficiaries lives
Economic viability of product at scale
"Startup grants by HDFC Bank under #Parivartan the banks umbrella CSR brand is 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," the company said.