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Marico Innovation Foundation Invites Applications From Innovators for the Eighth Edition of India's First and Foremost Innovation Awards
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-  Application window is open from 2ndJuly  till 31stJuly 2019 for Indian innovators across  Business, Social and Start-up Categories

MUMBAI, July 9, 2019 /PRNewswire/ -- Founded with an aim to nurture innovations in the country, Marico Innovation Foundation today announced its 8th edition of Innovation Awards to be held in February 2020 in Mumbai. They are inviting innovators across the country to send in their entries between July 2 and July 31, 2019 through their website (www.maricoinnovationfoundation.org). The prestigious Innovation Awards recognize Innovations across three broad categories - Business, Social and Start-Up innovations. In 2018, the platform received more than 600 nomination entries, finally revealing 6 path breaking innovations.

Marico Innovation Foundation Logo

The Boston Consulting Group, India as knowledge partners for this edition will shortlist the nominations for the awards. The shortlisted applications will then be further evaluated by two sets of juries - for Business and Start-Up categories; for Social category through two rounds of deliberations. The final winners will be selected on the basis of four pillars - innovation, impact, scalability and commercial viability.  

The winning entries stand to receive the following rewards -  

  1. A unique opportunity of access to some of India's leading business veterans as Master Mentors  
  2. Facilitated business and investment opportunities for their respective ventures
  3. Custom-tailored strategic solutions to help scaling-up their businesss under their own growth platform Scale-Up Program
  4. The innovations will receive personalised training in the art of executive presence and powerful story-telling  
  5. Dedicated features in leading media platforms for creating an awareness about their innovation

Incepted in the year 2006, the Innovation Awards, a biennial platform, has become the benchmark for recognition in the country with the most prolific leaders and thinkers coming together to handpick and recognize undiscovered innovations our country. This is the first of its kind platform that not only showcases the innovations, but also provides them access to relevant ecosystem stakeholders (such as investors, industry and business leaders) to help accelerate their growth journey.  

Speaking on the occasion, Mr. Harsh Mariwala, Founder of Marico Innovation Foundation, said,  "Innovation is the bedrock that leads to positive change to create impact that matters. With the numerous challenges that we face as a nation and the fractured infrastructure in industries such as healthcare, agriculture and manufacturing there is an urgent need to create an environment that encourages risk taking behavior. At the same time, there is a need for a platform that applauds the strides innovators take in order to build disruptive solutions. Innovation is the only way for organizations to sustain and create meaningful large-scale impact. Our Foundationand by extension the Awards were instituted with this core belief."

Priya Kapadia, Head of  Marico Innovation Foundation,  adds, "With every edition of the awards, we have seen stellar innovations come to the fore, and it has been heartening to see how each of these innovations have not only broken the mould but gone on to achieve resounding success. It is their flight of success that has strengthened our resolve year-on-year to make the awards platform even more relevant and resonant with innovators in every part of India. As we embark on our 8th  edition of Innovation Awards this year, I encourage every innovator in the country to harness the power of this platform to catapult their growth and chart their own course to success."  

The Foundation has recognized select 60 innovations across all categories over the last 13 years. They have handpicked the next big innovations way before their time, making them a pioneer in recognizing unheralded innovations. For example -  

  • Rivigo which is on its way to become the next unicorn of India
  • ISRO recognized the world over for their frugal innovation for the Mars Mission  
  • Goonj, a non-governmental organization known for its quick response in disaster relief

About Marico Innovation Foundation:

Born out of  the entrepreneurial zeal of Founder Mr. Harsh Mariwala, Marico Innovation Foundation is the not-for-profit arm of Marico Limited. The Foundation aims to nurture innovations in India across the business and social sectors alike. Through its sector agnostic programs, it works closely with organizations that are innovative and impactful and have the potential to bring change and add value to overall growth of the nation. The three core programs are  Scale-Up Program, Innovate2Cultivate and Innovation Awards.  

For more information please visit:https://www.maricoinnovationfoundation.org/

For more information please contact:
Mohita Bahadur
Vivaa Consulting
+91-9833420066
mohita@vivaaconsulting.com

Sushmita Srivastava
+91-8879628011
sushmita@vivaaconsulting.com
Vivaa Consulting

Logo: https://mma.prnewswire.com/media/944364/Marico_Foundation_Innovation_Logo.jpg  

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