Sustainable Startups Win Big: HDFC Parivartan Startup Grants

Four startups secured grants to advance their innovative initiatives, showcasing a collaborative effort between HDFC Bank and AIC-Nalanda to support sustainable entrepreneurship and smart city development.

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AIC-Nalanda, a prominent technology business incubator, has unveiled the winners of its HDFC Parivartan Startup Grants dedicated to supporting startups focused on "Building Green Solutions for Smart Cities." This announcement marks a significant stride towards sustainable development and innovation in the region.

After a thorough selection process, AIC-Nalanda has chosen the top 10 startups from a pool of 70 applications to participate in the Parivartan Cohort 1.0 program. The program included a rigorous 2-week, 10-session Capacity-Building initiative called the S.I.G.M.A. Startup Accelerator Program held in March 2024. Notably, the program attracted active participation from 10 mentors and esteemed investors from prominent venture capitalist firms such as Social Alpha, Inflection Point Ventures, and Fluid Ventures.

The culminating event, Winner Announcement Day, saw four outstanding startups from the cohort being recognized. Recycle Pay, Arc Robotics, Padverse, and Coco Boards emerged as the winners, securing monetary grants to further their innovative endeavors.

Mr. Durga Prasad, CEO of AIC-Nalanda, expressed his excitement about the recent developments, highlighting the significant impact these supported startups would create in the sustainability sector. He emphasized the invaluable handholding support provided by the incubator along with the generous grants from corporates, paving the way for groundbreaking innovations.

Mr. Nikhil Patra, Deputy Vice President of HDFC Bank, expressed delight in collaborating with AIC-Nalanda to provide CSR grants to startups in the state. He mentioned that through the CSR initiative Parivartan, HDFC Bank has been continuously supporting startups. This year, four startups from Odisha received grants totaling Rs 30 lakhs. The focus areas include Agriculture, Technology, Artificial Intelligence, among others.

HDFC Parivartan, a comprehensive CSR initiative by HDFC Bank, aims to foster sustainable economic and social development in India. Through thematic areas such as education, healthcare, livelihood enhancement, and environmental sustainability, HDFC Parivartan empowers communities and drives inclusive growth. With a focus on innovation, collaboration, and impact, HDFC Parivartan plays a pivotal role in driving meaningful transformation and creating a brighter future for all.