Planning to begin your own Start-up? HDFC Bank is giving funds for it: Know how to apply, important dates

New Delhi: Private lender HDFC Bank has invited applications from start-ups and solo entrepreneurs for its SmartUp 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 India’s 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 SmartUp 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 bank’s incubator partners and the SmartUp team will jointly scout for start-ups.
  
• Bank and incubators will jointly reach out and engage with start-ups through the SmartUp portal hosted on Ministry of Electronics and Information Technology (MeitY's) platform.
  
• Incubator partners will screen and shortlist applications and the SmartUp 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

"SmartUp grants by HDFC Bank under #Parivartan – the bank’s 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.