HDFC Bank invites startups to apply for SmartUp grants

Private lender HDFC Bank is inviting applications from social impact startups and entrepreneurs for its SmartUp grants.

The grant comes under the bank's umbrella CSR brand and is aimed at finding and deploying long-term, sustainable solutions at scale.

This year, the bank will focus on startups creating social impact at scale in sectors such as ed-tech and skill development, among others.

To screen, mentor, and monitor startups, HDFC Bank has partnered with nine start-up incubators who are from premier institutes such as IIT Delhi, IIT BHU, AIC BIMTECH Noida, IIM Kashipur, GUSEC Gujarat, C-CAMP Bangalore, Banasthali University Jaipur, Villgro Incubation Chennai, and T – HUB Hyderabad.

The application starts on February 16. Once the startups apply, the bank and incubators will jointly reach out and engage with them through the SmartUp portal hosted on Ministry of Electronics and Information Technology's website. Incubator partners will screen and shortlist applications and the SmartUp team will select finalists. Thereafter, finalists will pitch their startups to a jury comprising the senior management of the bank.

The startups will be evaluated basis their market reach, penetration and scalability of the product, degree of social impact in beneficiaries' lives and economic viability of product at scale.