Hyderabad: Out of the 25 startups selected by HDFC Bank to receive Parivartan Grants, nine are from Hyderabad. The grant was set up by the Bank to support startups working in the social sector space and who are offering unique solutions that bring a sustainable change. In the first phase, the Bank has disbursed Rs 10 crore to startups and incubators in India.
The nine Hyderabad-based startups selected for the grant are Banyan Nation, Sensehealth Technologies, Skiot Technologies, Care and Grow, Waterwala Labs, Waste Ventures, Docturnal, Pencilton and Scraptap.
“Parivartan Grants is our commitment to bring long-term positive change in the society we operate in. We are happy to announce that the startups identified for this grant are in line with one of our core values of the Bank – Sustainability. Through our dynamic startup fund, we will scale up on a consistent basis and invest in ideas that build value. This is the first phase, and we will continue to work with our partners to build a strong pipeline of social startups that we can support,” said Ashima Bhat, group head, CSR, HDFC Bank.
Parivartan, which means change, is the Bank’s endeavor to bring about a sustainable change in society. The change is not just about supporting various CSR initiatives, but also encouraging the entrepreneurial ecosystem in India under CSR to create long-term solutions to social issues, be it environment, waste management, health and well-being. The startups are from cities like Mumbai, Pune, Delhi, Jamshedpur, Kalahandi in Odisha, Kochi, Trivandrum and Hyderabad.
Commenting on the grants to startups, Smita Bhagat, country head – government, e-commerce and startups said, “#Parivartan Grants is one way of offering our support and encouragement in this journey. For this is a journey towards making a real difference in society and we want to be part of the eco-system that’s making a sustainable change”.
Profile of selected Hyderabad startups
- Banyan Nation – It is one of India’s first vertically integrated plastic recycling company that helps global brands use more recycled plastic instead of virgin plastic. Their plastic cleaning technology converts collected post-consumer and post-industrial plastic waste into high quality recycled granules – Better Plastic– comparable in quality and performance to virgin plastic.
- Sensehealth Technologies – It’s objective is to come up with very affordable ECG device without compromising the quality. They are currently looking out to make the product accessible in the remote areas so that patient is able to use the product anytime and anywhere without going to hospital
- Skiot Technologies – develops non-invasive and wireless power monitoring device which is easy to install and cost effective when compared to existing power monitors
- Care and Grow – a cloud-based preventive and behavior modification platform to screen, monitor, analyse and deliver the needed behavior and health intervention for kids in school
- Waterwalla Labs – manufacturer of smart water purifiers that monitor the quality and quantity of water purified and provide the same on a subscription to customers. They take care of the device investment and maintenance while charging the customers for the amount of water consumed. Aims to eliminate the use of bottled water in homes and offices through this.
- Waste Ventures – A waste management social enterprise that is moving india’s solid waste sector to models that are financially and environmentally sustainable. They offer professional waste collection and processing services to households, corporate clients and waste pickers. Since 2013, they have averted over 3,000 tonnes of waste from Indian dumpsites.
- Docturnal – A non-invasive point of care screening solution using AI on cough inputs for TB and other respiratory diseases that have cough input
- Pencilton – Startup focused on improving financial literacy by use of games and experiential learning based simulations.
- Scrap Tap – A consumer centric waste discovery platform for all the stakeholders of the recycling industry.