HDFC Bank through its CSR initiative under SmartUp Programme for startups is creating an impact in various spaces of development through multiple projects at grassroot level with a focus on rural development. CSR Grants for supporting startups through Incubators is now in its 4th year, covering 3 cohorts, with a cumulative 15 incubators and nearly 70 startups have been supported across sectors like Agri-Business, Ed-tech, Waste Management, Healthcare and Skill Development
HDFC Bank is running an online call for application form for scouting startups in Edtech and Skill Development. Under the program nine incubator partners have been empanelled across North, South, East , West and Central region. The selected startups will be incubated with one of these 9 incubators. The incubators will be listed on MeitY Startup Hub (MSH) platform along with their details. The incubator offerings for the startups and the terms and conditions to select a startup whom they want to incubate are attached below.
2. Priority Areas
2. Skill Development
3. Implementing Agencies(IAs) - Incubation Centers
Selected startups for Scheme "SmartUp grant for Startups" is to be implemented through the following nine IAs/Incubation centers:
BHU (I DAPT HUB Foundation)||Varanasi|
|2.||FITT (IIT Delhi)||Delhi|
|3.||AIC Banasthali Vidyapith||Vanasthali|
An entity shall be considered as a Startup:
1. Upto a period of ten years from the date of incorporation/ registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India
2. Entity is working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.
3. Startups should belong to one of the 2 sectors i) Education Technology ii) Skill Development.
4. Startup agreeing to incubate with one of the 9 incubators mentioned by HDFC Bank
5. Startup will be allocated with their preferred incubator as per first come first serve policy
5. Implementation Mechanism and Evaluation Process
STEP 1 – At the time of application, the Startup will be prompted to choose a preferred incubator out of the nine incubator partners listed on the website. Once the terms and conditions of the incubator partner is understood and accepted, the Startup shall be aligned with their preferred incubator partner.
STEP 2 - Once the incubator partner recommends a startup for grant, HDFC bank revalidates CSR compatibility, assesses sustainability of venture, before shortlisting a cohort of Startups for a pitch to a panel of senior management. The finalists receive grants via incubator partners
STEP 3 - Once the startup has been briefed by the incubator regarding their Terms and Conditions, the startup should confirm to the incubator within 2 working days
HDFC Bank Limited, having its registered office situated at HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai, is inviting the applications from Eligible Startups (Defined hereinafter) to offer and disburse to the Eligible Startups, the Corporate Social Responsibility (CSR) grants (“CSR Grants”) of such amounts as may be specified by HDFC Bank and subject to such terms and condition under the CSR initiative of the Bank to enable the Eligible StartUps who are associated in the various fields of Ed- Tech, Livelihood & Skilling, with a focus on entrepreneurship and self-employment.
CSR Grants shall be solely at the discretion of HDFC Bank subject to fulfillment of such additional terms and conditions as may be specified by HDFC Bank from time to time. The broad terms and conditions under which the HDFC Bank shall consider the proposals of the Eligible Startups for CSR Grants shall be as under:
Eligible Startup : In order to be qualified to avail the CSR Grant, the Start Up shall be required to comply the below conditions to be treated as “Eligible Startup”:
1. The Startup shall be:
a) Upto a period of ten years from the date of incorporation/ registration, if it is incorporated as a private limited company (as defined in the Companies Act, 2013) or registered as a partnership firm (registered under section 59 of the Partnership Act, 1932) or a limited liability partnership (under the Limited Liability Partnership Act, 2008) in India;
b) working towards innovation, development or improvement of products or processes or services, or if it is a scalable business model with a high potential of employment generation or wealth creation.;
2. Startups shall belong to one of the two sectors i.e. i) Education Technology or ii) Skill Development;
3. Startup shall be associated with any one of the 9 Incubators as listed by HDFC Bank Limited on the Ministry of Information and Technology (Meity) platform or the Startup shall be allocated their preferred incubator as per the availability and on first come first serve basis.
HDFC Bank Limited shall at its sole discretion select the Startup if the Startup fulfils the conditions of the above-mentioned eligibility criteria and the Startup shall not raise any objections on the selection. HDFC Bank shall have the right to reject any or all applications for CSR Grants without assigning any reason and without incurring any liability. The decision of HDFC Bank Limited shall be final and binding.
The Startup also acknowledges and consents that the information / data (Name/ Address / Contact details / Email ID etc.) provided by the Startup on the Meity platform, will be stored and accessed by Meity. Any information / data provided or furnished by the Startup in response to this offer and the information / data being filled in the Application form, which shall be evaluated by HDFC Bank or it’s service providers, affiliates, and HDFC Bank may use any such data to contact and communicate to the Startup any details pertaining to the CSR grants being distributed and the Bank representative may call them in respect of the information furnished by them or seek more inputs clarity from them as to information furnished /data or details submitted.
HDFC Bank/ Incubator Partners as listed by HDFC Bank on Meity shall have the right to request for any further information/documentation from the Startup and the Startup shall mandatorily provide such documentation at the earliest.
CSR grants shall be subject to the T & C’s as may be specified by the Bank from time to time. HDFC Bank Limited has right to amend the T & C’s at any time without giving any prior notice and the Startups agrees to abide by the same and all the changes that may be made in respect of the same from time to time.
All disputes, claims and demands arising out of the registration / participation / judgement in the application and selection of the Startup process shall be referred to and finally resolved by arbitration by Sole Arbitrator who shall be appointed by both the parties mutually agreed in accordance with the Arbitration and Conciliation Act, 1996 and amendments made thereof. The seat of arbitration shall be in Mumbai, India.
BY APPLYING TO THE CSR PROGRAM, YOU AGREE THAT YOU HAVE READ, UNDERSTOOD AND AGREED TO BE BOUND BY THESE TERMS AND CONDITIONS HEREIN.