SBI Foundation, IIT Kanpur give Rs 2.64 crore to 30 grassroots start-ups

SBI Foundation, the social-responsibility arm of the State Bank of India group, and the Startup Incubation and Innovation Centre (SIIC) of IIT Kanpur have given about Rs 2.64 crore in grants to 30 start-ups working on farming, clean energy and healthcare, according to a statement issued from New Delhi on Wednesday, October 28, 2026. The money was given under a programme called SBIF LEAP: Innovators for Bharat, and the start-ups showed their work to investors at a Demo Day and Investor Connect held at IIT Kanpur's campus in Noida.

Most start-up funding in India still flows to companies in big cities building apps for urban consumers. Founders working on problems in villages and small towns, such as crop losses, soil health, clean cooking or basic medical testing, often struggle to raise their first rupee. Their products take longer to build and test, their customers have less money, and investors see higher risk. Grants fill that gap. Unlike equity investment, a grant does not take a share of the company, so founders keep ownership while they prove their idea works.

The milestone-linked design is important. Money is released when a start-up hits agreed targets, such as finishing a prototype, running field trials or signing first customers. This protects the funder's money and pushes founders to show results rather than spend on promises. It also gives investors evidence: a start-up that has met milestones under a programme run by a respected institution such as IIT Kanpur is easier to back at the next stage.

The heavy tilt towards agriculture, with 20 of the 30 start-ups, reflects where the need is greatest. Farming still employs a large share of India's workforce, and small improvements in seeds, storage, water use or market access can raise incomes for many families. Cleantech and healthcare start-ups address problems that are equally common outside the metros: unreliable power, pollution and the distance from villages to clinics and laboratories.

Programmes like this also matter for founders from tier-2 and tier-3 towns. Incubation gives them office space, laboratory access and mentors they may not find at home, while the Demo Day puts them in front of investors they would otherwise struggle to reach.

What aspiring founders can take from this: corporate foundations and university incubators run grant programmes each year, usually with fixed application windows. Founders should watch the websites of incubators such as SIIC at IIT Kanpur and the foundations of large companies, keep a clear plan of measurable milestones ready, and be prepared to show field results.

Short-term: Thirty young companies get working capital without giving up ownership, and eight of them have already met investors who could fund their next stage.

Long-term: If the start-ups grow, their products could reach farmers, rural households and small clinics, and the programme could serve as a model for other corporate foundations and incubators funding grassroots innovation.

Who is affected: Founders in agritech, cleantech and healthcare, farmers and rural patients who may use their products, investors looking for early-stage social-impact companies, and the incubators and corporate foundations that support them.

Questions and Answers