Mumbai: HDFC Bank on Wednesday reported it supported social sector startups in India with grants value Rs 19.6 crore in FY24, in partnership with Atal Innovation Mission (underneath NITI Aayog).
In FY 2023-24, 170 social commence-ups acquired funding by way of 41 incubators, with a whole of Rs 19.6 crore in the ‘Parivartan Start off-up Grants programme.’
The emphasis places for the 2024 grants included local climate innovation, financial inclusion, agriculture and sustainable rural economic climate, available and economical healthcare, schooling and livelihood enhancement, gender diversity and inclusion.
“Through strategic collaborations and focused investments, we aim to nurture and amplify the effects of innovative social commence-ups across important sectors, finally contributing to a far more sustainable and inclusive long run for all,” said Nusrat Pathan, Head CSR, HDFC Lender.
Over a 50 percent of the 170 startups hail from over 60 tier 2 and 3 metropolitan areas.
The grants were awarded to incubators these as HTIC at IIT Madras, Awadh at IIT Ropar, T-Hub (Hyderabad), FITT-IIT Delhi, Rise Foundation at IISER (Kolkata), VJTI (Mumbai), Forge Forward (Coimbatore), NTIBIF at NIFTEM (Kundli).
Since its inception in 2017, the initiative has supported more than 400 startups, picked from much more than 120 incubators nationwide, reported the HDFC Bank.