The Business Bytes
TBB BUREAU
BHUBANESWAR, MARCH 23, 2024
AIC-Nalanda, a renowned technology business incubator, on Saturday declared the winners of its cohort of HDFC Parivartan Startup Grants, dedicated to supporting startups focusing on “Building Green Solutions for Smart Cities.” This initiative marks a significant stride towards sustainable development and innovation in the startup ecosystem.
After a rigorous selection process, AIC-Nalanda carefully selected the top 10 startups from among 70 applications to participate in the Parivartan Cohort 1.0 program. This program featured a comprehensive 2-week, 10-session Capacity-Building initiative called the S.I.G.M.A. Startup Accelerator Program in March 2024. Notably, the program witnessed active participation from 10 mentors and esteemed investors from prominent venture capitalist firms such as Social Alpha, Inflection Point Ventures, and Fluid Ventures.
The culmination of this initiative was marked by the highly anticipated Winner Announcement Day, where four outstanding startups from the cohort were felicitated. Recycle Pay, Arc Robotics, Padverse, and Coco Boards emerged as the winners to receive the monetary grants.
Commenting on this achievement, Durga Prasad, CEO of AIC-Nalanda, expressed his excitement about the recent developments and emphasized the significant impact these supported startups would create in the sustainability sector. He highlighted the invaluable handholding support provided by the incubator along with the generous grants from corporates, paving the way for groundbreaking innovations.
On this occasion, Nikhil Patra, Deputy Vice President of HDFC Bank, stated, “We are delighted to collaborate with AIC-Nalanda to provide CSR grants to startups of the state. Through our CSR initiative Parivartan, we are continuously helping startups through grants. We are in the seventh year of our journey in Odisha, and this time, four startups are selected to whom we have provided Rs 30 lakh grants. Our focus areas are Agriculture, Technology, Artificial intelligence, and others.”
HDFC Parivartan, a comprehensive corporate social responsibility (CSR) initiative by HDFC Bank, aims to foster sustainable economic and social development in India. Through thematic areas such as education, healthcare, livelihood enhancement, and environmental sustainability, HDFC Parivartan empowers communities and drives inclusive growth. With a focus on innovation, collaboration, and impact, HDFC Parivartan plays a pivotal role in driving meaningful transformation and creating a brighter future for all.
