NITI Aayog & HDFC Bank Parivartan StartUp Grants for Non-Profit Incubators, Accelerators & CSRs: Apply by Nov 15

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Applications are invited for the NITI Aayog & HDFC Bank Parivartan StartUp Grants for Non-Profit Incubators, Accelerators & CSRs. The last date for the application is Nov 15, 2023.

About NITI Aayog-Atal Mission Program

NITI Aayog’s flagship program – Atal Innovation Mission (AIM) has been at the forefront of promoting a culture of innovation and entrepreneurship. AIM has partnered up with HDFC Bank to augment the support system for Incubators and accelerators from across India. The incubators & accelerators will further seek, select, support and nurture technology-based social impact startups that solve sectoral challenges of national importance and add to Sustainable Development Goals (SDGs).

About HDFC Bank Parivartan StartUp Grants

The HDFC Bank Parivartan StartUp Grants was launched in 2017 under the HDFC Bank’s Parivartan (CSR) and StartUp vertical. The program contributes towards social development in India by supporting emerging innovative startups working in the social space via incubators. Over the 6 cohorts, the program has disbursed ~Rs.45 crore in grants via 75+ incubator partners and a cumulative ~250 Startups have received financial support for developing impactful solutions across the Environment, Agri Business, Education, Waste Management, Affordable Healthcare, Skill Development, Technologies for Better Governance, Sustainable Rural Economy, Economic Growth of SMEs and Gender Diversity & Inclusion.

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During FY 2023–24, the HDFC Bank Parivartan StartUp Grants intend to provide grant assistance to 15-20 incubators and accelerators to further support 40-50 potential social impact startups.

Eligibility Criteria

Non-profit incubators (CSR Eligible) or Incubators and Accelerators or entities eligible as per provisions in Schedule VII (ix) under section 135 of the Companies Act, 2013

Documents Required to Qualify for CSR Grants

• CSR 1 Registration,
• 80G and 12 A certifications,
• Entity Registration Certificate,
• MoA/AoA/Deed,
• Audited Financials for the past 3 years

Other Supporting Information

Proposal in prescribed format, Experience of managing programs for social impact startups, Full-time Managing team etc.

Themes for Challenges

• Climate Innovation
• Agriculture and Sustainable Rural Economy
• Education and Livelihood Enhancement
• Accessible and Affordable Healthcare
• Financial Inclusion
• Gender Diversity and Inclusion

Incentives

Selected Incubator/Accelerator to receive grants for further capital infusion in the associated social impact startups.

Incubator Selection Process

[November 2023 – December 2023]

• Stage 1: Call for Applications [Refer to DETAILED ELIGIBILITY CRITERIA section for more information]
• Stage 2: Evaluation
  • The HDFC CSR team will evaluate incubator applications for their CSR eligibility,
  • Selected incubators will be called for a 30-minute presentation.
• Stage 3: Incubator Selection Post Document Verification & MoU Signing
  • Shortlisted incubators may need to submit additional statutory documents for further verification,
  • The qualifying incubators need to sign a MoU to participate in the program.

Startups Selection Process

[December 2023 – January 2023]

• Stage 4: Project Execution
  • The execution partner is expected to commence the program, establish operations to identify high-potential startups & operate capacity-building programs as per the approved proposal.

Fund Disbursement

[February 2024 – MARCH 2024]

• Stage 5: Fund Utilization & Reporting
  • The Incubators will further disburse funding to the selected startups,
  • Incubators need to utilize the funds by February 10th, 2024 and submit the utilization certificate at the end of the financial year FY 2023-24 as per proforma format,
  • Incubators need to send progress reports twice a year for 2 years from the date of receipt of the grant in the prescribed format.

How to Apply?

• Download the Application Form and Proposal Template, Click here to download.
• Incubators and Accelerators need to submit the online application forms on the Startup India Application portal,
• Applicants must upload a proforma proposal, and all required supporting documentation at the same time as the rest of your application.

Deadline

The last date for the application is Nov 15, 2023.

Click here to view the official notification of the HDFC Bank Parivartan StartUp Grants.

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