HDFC Bank Group Announces Winners of HDFC Tech Innovators 2024: A Celebration of Cutting-Edge Startups

In an exciting culmination of innovation and entrepreneurial spirit, the HDFC Bank Group has announced the winners of HDFC Tech Innovators 2024a group-wide initiative aimed at fostering engagement with India’s dynamic startup ecosystem. This program, a joint effort by HDFC Bank Group companies such as HDFC AMC, HDFC Ergo, HDB Financial Services, HDFC Life, and HDFC Securities, has been spearheaded by HDFC Capital and HDFC Bank. It’s a move that reflects the group’s commitment to nurturing technological advancement and supporting new-age startups across multiple industries.

A Platform for Innovation and Opportunity

HDFC Tech Innovators leverages HDFC Capital’s long-standing platform to promote collaborations with startups in diverse sectors like PropTech, FinTech, Sustainability Tech, Consumer Tech, and New Age Tech. By creating opportunities for business growth, financing, investments, co-learning, and product co-creation, this initiative embodies HDFC’s vision of fostering mutual growth between established organizations and emerging ventures. For the first time, this program was conducted at a group level, further broadening the scope of engagement with innovative startups.

The Selection Process: Celebrating the Best of Over 2,000 Applications

This year’s edition saw an overwhelming response, with more than 2,000 applications received across five categories. After a rigorous screening process led by EY, the top 10 winners were selected by a grand jury that included HDFC Bank Group leadership, venture capitalists, senior industry executives, and unicorn founders. The winners are:

• Alt Drx Pvt Ltd
• Garudalytics Pvt Ltd
• Inkers Technology Pvt Ltd
• Ishitva Robotic Systems
• Nosh Robotics
• Newspace Research and Technologies
• Onestack Solution
• Don't Labs
• Repos Energy India
• VSOL4U Technologies Pvt Ltd (Yelloskye)

These startups represent a diverse range of industries, from robotics to energy and finance, showcasing the breadth of innovation happening in India today.

A Star-Studded Event

The grand event was graced by P.VasudevanExecutive Director of the Reserve Bank of India, who served as the Chief Guest. The audience included leading venture capitalists, unicorn founders, industry stalwarts, and academic leaders. The event offered rich discussions centered around the inspiring journeys of startup founders and how large organizations like the HDFC Bank Group collaborate with them to push boundaries in technology and business.

Key speakers included influential industry figures like:

• Parag RaoCountry Head – Payments, Liability Products, Consumer Finance and Marketing, HDFC Bank
• Navneet MunotMD & CEO, HDFC AMC
• Dhiraj RelliMD & CEO, HDFC Securities
• Vibha PadalkarMD & CEO, HDFC Life
• Anuj TyagiMD & CEO, HDFC Ergo
• Rohit KapoorCEO, Food Marketplace, Swiggy
• Kumar VembuCo-Founder, Zoho
• Shraddha SharmaFounder & CEO, YourStory Media
• Ajay KaushalFounder Director, BillDesk
• Mayank KumarCo-Founder & MD, upGrad

These distinguished personalities shared their insights on the evolving role of startups in shaping India’s economic and technological landscape.

A Commitment to Future Innovation

Speaking at the event, Mr. Parag RaoCountry Head – Payments, Liability Products, Consumer Finance and Marketing, HDFC Bank, said, “We engage with startups at multiple levels, offering them products and services that ease their business operations. Since the early days of HDFC Bank, we’ve extensively collaborated with startups, especially in fintech, to deliver cutting-edge services like digital payments and AI-powered financial tools. I extend my heartfelt congratulations to all the winners of HDFC Tech Innovators 2024.”

Mr. Vipul RoongtaMD & CEO of HDFC Capital Advisors Ltd, added, “The third edition of HDFC Tech Innovators received participation from over 2,000 startups, showcasing the future of technology and innovation in India. HDFC Capital remains committed to supporting businesses that offer sustainable and futuristic solutions, especially in the real estate and affordable housing sector.”

Partners and Supporters

The event’s success was amplified by support from key partners like DPIIT Startup India, MeitY Startup Huband venture capital firms including IvyCap Ventures, Elevation Capital, Z47 fka Matrix Partners India, 3one4 Capital, Chiratae Ventures, Blume, Accel, 100x.VC, Inflection Point Ventures, Rainmatter, Gruhas, Brigade REAP, Earth Fundand many more. Academic institutions such as IIT Madras, IISc Bangaloreand business schools like IIMA Ventures and IIMB NSRCEL also lent their expertise to the initiative, reinforcing the importance of academia-industry collaboration.

Conclusion: A Bright Future for Indian Startups

As HDFC Bank Group continues to forge partnerships with startups through initiatives like HDFC Tech Innovators, the future of innovation in India looks brighter than ever. By providing platforms for collaboration, financing, and co-creation, HDFC is helping nurture the next wave of technology that will shape industries and improve lives. The winners of HDFC Tech Innovators 2024 are poised to make significant contributions to their fields, and their success is a testament to India’s burgeoning startup ecosystem.

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