25 startups bag the Parivartan Grant by HDFC Bank

Thinking out of the box is the mantra that most of the emerging startups follow. However, the startups still need the additional financial push that will further accelerate the overall growth of the startup as well as its idea, products and services. Pioneering among many is private bank HDFC Bank, with its SmartUp initiative provides startups from various sectors the financial tools as well as smart advisory to rise above others. Additionally, the private lender has come up with the Parivartan Grants for startups working in the social sector that offer unique solutions and bring about sustainable change.

Taking in accordance the government initiatives to uplift budding entrepreneurship, HDFC Bank has presently disbursed Rs 10 crore to start-ups and incubators in India. HDFC Bank recently granted 25 innovative startups with their Parivartan Grants. HDFC Bank firmly believes that creating a  strong entrepreneurship ecosystem is conducive for the growth of startup businesses in India. Further, with their mentoring program, HDFC Bank offers the helping hand for new startups with expert perspective.

Among the recipient is Phycolinc Technologies, a start-up by Sumeet Mohanty that uses algae to treat wastewater, be it industrial or domestic sewage, thereby restoring lakes and other water bodies. The solution is organic and can be easily implemented.

Other startups that joined the group are Zoofresh, Krimanshi, Banyan Nation, Advenio Technosys Chironx, Proklean Technologies, Talento, Onganic, Donatekart, Bleetech Innovations, Periwinkle Technologies, Sensehealth Technologies, Skiot Technologies, Care and Grow, Waterwala Labs, Waste Ventures, Docturnal, Pencilton, Wudi, Rassaa, Rimagined, Scraptap, Danamojo, EVE Labs and Bharat Rohan.

Commenting on the development, Ashima Bhat, Group head, CSR, HDFC Bank, said, "Parivartan Grants is our commitment to bring long-term positive change in the society we operate in. We are happy to announce that the start-ups identified for this grant are in line with one of our core values of the Bank – Sustainability."

"Through our dynamic start-up fund, we will scale up on a consistent basis and invest in ideas that build value. This is the first phase, and we will continue to work with our partners to build a strong pipeline of social start-ups whom we can support." she further adds

Adding to that, Smita Bhagat, Country head – Government, e-commerce and start-ups said, “Start-ups today are reimagining and reshaping the world we live in. Those working in the social sector are doing commendable work in the endeavour to change the lives of millions of Indians. Parivartan Grants is one way of offering our support and encouragement in this journey. For this is a journey towards making a real difference in society and we want to be part of the eco-system that’s making a sustainable change”.