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HDFC Bank | Parivartan Smartup Grants
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HDFC Bank | Parivartan Smartup Grants

For startups

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HDFC Ltd., was among the first in the country to receive ‘in principle’ approval from the Reserve Bank of India in 1994, when new generation banking licenses were being given out. HDFC Bank was a Startup in 1995.

Since then, HDFC Bank has successfully grown to be India’s most valued brand. It has been recognized as such for the 7th year in a row, in a study conducted by Millward – Brown, a research agency of the WPP group.

As people lead a fast paced, busy life, HDFC Bank has launched a host of digital initiatives to meet their evolving requirements. These include 10 seconds loan at ATMs, on Netbanking, 30 minute paperless auto loan using Biometric technology, and PayZapp. This is in addition to HDFC Bank’s Netbanking and Mobile Banking channels, which allow customers to perform different types of transactions. These initiatives are part of India’s premier full-service digital bank’s strategic focus on customer convenience, access and delight, using technology as an enabler.

Mr. Sashidhar Jagdishan has taken over as the Managing Director & Chief Executive Officer of the Bank, with effect from October 27, 2020. He succeeds Mr Aditya Puri, the iconic Managing Director who led the bank since inception and retired on October 26, 2020.

Also, being a socially responsible corporate citizen, HDFC Bank is empowering the lives of millions of people at the bottom of the pyramid through its Sustainable Livelihood Initiative, by providing them financial inclusion, financial literacy, occupational training and market linkages. HDFC Bank has empowered over 1.29 crore households as of March 31, 2021.

Further, under the bank’s umbrella brand of all social initiatives – Parivartan - the bank has transformed lives of over 8.6 crore individuals as on June 30, 2021.

The Bank offers products ranging from Savings Account, Fixed Deposits and Current Account to Two-wheeler loan, Auto loan, Tractor Loan, Commercial Vehicle Loan, Kisan Gold Card, Agri and Commodities Loans, International Credit and Debit Cards.

As of June 30, 2021, the Bank had a distribution network of 5,653 branches and 16,291 ATMs across 2,917 cities. 50% of the bank’s branches are in semi-urban and rural areas. Additionally, the bank has 15,912 business correspondents, which are primarily manned by Common Service Centres (CSC).

HDFC BANK PARIVARTAN

At HDFC Bank we are helping to transform lives of millions of Indians through our social initiatives. These initiatives come under the umbrella of ‘Parivartan’ and they aim to contribute towards the economic and social development of the country by sustainably empowering its communities.

Parivartan has been a catalyst in making a difference in the lives of people through its interventions in the areas of rural development, education, skill development and livelihood enhancement, healthcare & hygiene and financial literacy.

With a lot already done, the bank continues to bring about the change keeping with its philosophy of Sustainability and Innovation.

ABOUT THIS APPLICATION

Parivartan SmartUp Grants

The SmartUp grants for social startups under the Bank’s Parivarthan and SmartUp program is now in its 5th year with ~Rs.20 crores distributed as grants via 22 incubator partners. Over the 4 cohorts, a cumulative ~90 Startups have been supported across segments like Agri business, Ed-tech, Waste Management, Healthcare, and Skill Development. 

Last year, we appointed incubator partners in-charge of the 5 regions –North, South, East, West and Central and used 3rd party platform to source applications of startups.  We curated startup applications and tagged them to relevant incubators to facilitate the filtration and disbursement process. 

For the current year, we are proposing 2 different approaches wherein (1) the incubators will pitch their capabilities to execute the grant process based on the CSR program requirements, in the application the incubators will also provide a long list of startups that align with program focus areas (2) Startups eligible under Schedule VII of The Companies Act, 2013 and The Companies (Corporate Social Responsibility Policy) Rules 2014 and working towrds 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 can apply.

Startups recommended by the Eligible Incubators and Startups directly applying shall belong to one of the three sectors i.e. (i) Environment i.e. conservation of the natural world (ii) Health i.e. Improving Healthcare​ (iii) Gender Diversity i.e. Improving gender equality​.

We intend to fund 12-15 incubators i.e.~50 startups

ELIGIBILTY

Terms and Conditions

HDFC Bank Limited, having its registered office situated at HDFC Bank House, Senapati Bapat Marg, Lower Parel, Mumbai, is inviting the applications from Eligible Incubators and Eligible Startups (Defined hereinafter) to offer and disburse to the Eligible Incubators and 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 Incubators and Eligible Startups who are associated in the various fields of  Environment i.e. conservation of the natural world, Health i.e. Improving Healthcare​ and Gender Diversity i.e. Improving gender equality​.

CSR Grants shall be solely at the discretion of HDFC Bank subject to fulfilment 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 Incubators and Eligible Startups for CSR Grants shall be as under:

Eligible Incubator : In order to be qualified to avail the CSR Grant, the Incubator shall be required to comply the below conditions to be treated as “Eligible Incubator”:

1.       The Incubator shall be an eligible incubator as per Schedule VII of The Companies Act, 2013 and The Companies (Corporate Social Responsibility Policy ) Rules 2014

2.       Startups recommended by the Eligible Incubators shall belong to one of the three sectors i.e. (i) Environment i.e. conservation of the natural world (ii) Health i.e. Improving Healthcare​ (iii) Gender Diversity i.e. Improving gender equality​.

3.       If shortlisted for receipt of CSR grants, the Eligible Incubator confirms that they shall disburse the funds to the startups within 10 working days of announcement of winner (by HDFC Bank) or 28 February 2022 whichever is earlier.

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 an eligible Startup as per Schedule VII of The Companies Act, 2013 and The Companies (Corporate Social Responsibility Policy) Rules 2014

2.       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.;

3.       Startups shall belong to one of the three sectors i.e. (i) Environment i.e. conservation of the natural world (ii) Health i.e. Improving Healthcare​ (iii) Gender Diversity i.e. Improving gender equality​.

HDFC Bank Limited shall at its sole discretion select the Incubator / Startup if the Incubator / Startup fulfils the conditions of the above-mentioned eligibility criteria and the Incubator / 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.

Merely filing or submitting the application shall not automatically entitle the Incubator / Startup to receive CSR Grants nor submitting the application shall be treated as execution of binding contract between the Eligible Incubator or Eligible Startups and HDFC Bank.

The Incubator / Startup also acknowledges and consents that the information / data provided by the Startup on the Meity platform, will be stored and accessed by Meity. Any information / data provided or furnished by the Incubator / 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 for offering various products and services of HDFC Bank as well 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 shall have the right to request for any further information/documentation from the Incubators / Startup and the Incubators / 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 Incubators / 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 and the language of arbitration shall be English.

BY APPLYING TO THE CSR PROGRAM, YOU AGREE THAT YOU HAVE READ, UNDERSTOOD AND AGREED TO BE BOUND BY THESE TERMS AND CONDITIONS HEREIN. 

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