HDFC Bank and Atal Innovation Mission Foster Social Sector Innovation with Rs 19.6 Crore Grants

In a collaborative effort, HDFC Bank and Atal Innovation Mission, under NITI Aayog, have empowered social sector startups in India by providing grants totaling Rs 19.6 crore in FY24. This initiative, known as the ‘Parivartan Start-up Grants programme,’ supported 170 startups through 41 incubators, focusing on critical areas such as climate innovation, financial inclusion, agriculture, healthcare, education, livelihood enhancement, and gender diversity.

Empowering Social Innovation Across Tier 2 and 3 Cities

A notable aspect of this initiative is its inclusive reach, with over half of the supported startups originating from more than 60 tier 2 and 3 cities. This underscores the program’s commitment to fostering innovation beyond metropolitan areas and ensuring a more equitable distribution of resources and opportunities.

Strategic Collaborations and Impact Amplification

Nusrat Pathan, Head of Corporate Social Responsibility at HDFC Bank, emphasized the significance of strategic collaborations and targeted investments in nurturing and amplifying the impact of innovative social startups. By partnering with reputable incubators across the country, such as HTIC at IIT Madras, T-Hub in Hyderabad, and VJTI in Mumbai, the initiative aims to catalyze sustainable change and contribute to a more inclusive future for all.