Recipients Of HDFC Parivartan Startup Grants Announced

Bhubaneswar: AIC-Nalanda, a renowned technology business incubator dedicated to fostering innovation, proudly unveiled the recipients of the prestigious HDFC Parivartan Startup Grants within its latest cohort. These grants serve as a beacon of support for startups focusing on “Building Green Solutions for Smart Cities,” underscoring a monumental leap towards sustainable development and inventive solutions.

Following an exhaustive evaluation process, AIC-Nalanda meticulously handpicked the top 10 startups out of a pool of 70 applicants to partake in the inaugural Parivartan Cohort 1.0 program. This initiative featured an immersive 2-week, 10-session Capacity-Building endeavor known as the S.I.G.M.A. Startup Accelerator Program, conducted in March 2024. Noteworthy was the active involvement of 10 mentors and esteemed investors hailing from renowned venture capitalist firms including Social Alpha, Inflection Point Ventures, and Fluid Ventures.

The apex of this journey culminated in the eagerly awaited Winner Announcement Day, where four exceptional startups from the cohort were lauded. Recycle Pay, Arc Robotics, Padverse, and Coco Boards emerged triumphant, securing the coveted monetary grants.

Mr. Durga Prasad, CEO of AIC-Nalanda, voiced his elation at this remarkable feat, emphasizing the profound impact these supported startups are poised to make within the sustainability sector. He underscored the invaluable guidance provided by the incubator and the generous backing from corporate entities, laying the groundwork for groundbreaking innovations.

On this momentous occasion, Mr. Nikhil Patra, Deputy Vice President of HDFC Bank, expressed delight in partnering with AIC-Nalanda to extend CSR grants to startups in the region. Through the CSR initiative Parivartan, HDFC Bank has been steadfast in its commitment to nurturing startups, marking the seventh year of support in Odisha. Four deserving startups have been selected this time, receiving grants totaling Rs 30 lakhs. The focus areas encompass agriculture, technology, artificial intelligence, and more.

HDFC Parivartan, an all-encompassing corporate social responsibility endeavor by HDFC Bank, is geared towards fostering sustainable economic and social progress in India. By addressing thematic areas such as education, healthcare, livelihood enhancement, and environmental sustainability, HDFC Parivartan empowers communities and propels inclusive growth. Grounded in innovation, collaboration, and tangible impact, HDFC Parivartan stands as a cornerstone in propelling meaningful transformation and sculpting a brighter future for all.