HDFC Bank offers Parivartan Grants to 25 social sector start-ups

KT NEWS SERVICE. Dated: 6/7/2019 2:40:41 PM

JAMMU, June 6: In 2013, Sumeet Mohanty, a biochemical engineer from IIT Kharagpur, had taken a trip to a small village in Jharkhand.
He was troubled to learn that three children from the village had died on consuming water from a nearby lake that lacked adequate sewage treatment facilities. The incident inspired him to look for a solution that could be universally implemented, and sparked his interest in clean tech projects in the field of waste-water treatment. After working in the space for a few years, he set up Phycolinc Technologies, a start-up that uses algae to treat wastewater, be it industrial or domestic sewage, thereby restoring lakes and other water bodies. The solution is organic and can be easily implemented.
Phycolinc Technologies is one of the 25 start-ups, who are recipients of HDFC Bank’s #Parivartan Grants. #Parivartan Grants aim to help the start-ups working in the social sector to offer unique solutions that bring a sustainable change. In the first phase, the Bank has disbursed Rs 10 crore to start-ups and incubators in India.



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