Marico Innovation Foundation (MIF) has announced seven winners of the ninth edition of its flagship ‘Innovation for India Awards’. Innovations were recognized across two broad categories – business and social. The business category entailed India-based ‘for-profit’ organizations, including start-ups and corporate innovators, and the social category included India-based ‘not-for-profit’ individuals or organizations.
Harsh Mariwala, Founder of Marico Innovation Foundation and Chairman of Marico Limited, said, “It is a moment of pride to witness such exemplary solutions from the next-gen Indian innovators who are tirelessly working toward the growth and development of our nation. The world is changing faster than ever, and businesses need to be constantly innovating to stay ahead of the curve. MIF proudly honors such disruptive innovations and believes that with the right support and nurturing, every business has the potential to create a scalable impact for a future-ready India.’’
The business category saw applications from more than 20 sectors, including healthcare/med-tech, agritech, waste management, robotics, manufacturing, and others. On the other hand, applications in the social category presented solutions for 15+ social challenges across education and training, women’s development, health and well-being, sustainability, and others. The applications also saw women innovators apply in significant numbers this year, with considerable organizations featuring women -only and at least one woman founder.
Amit Chandra, Honorary Chairperson – Governing Council – Marico Innovation Foundation and Chairperson, Bain Capital India Office, said added, “One path-breaking innovation has a domino effect in changing the entire ecosystem and our Global Game Changer Cowin truly exemplifies this. India is at the precipice of providing world-first solutions and some of the innovations identified this year are a true testimony to this readiness.’’
The winners were shortlisted and selected from applications across the country post an extensive outreach phase. Praxis Global Alliance played the role of the advisor for 2023 and shortlisted, evaluated, and conducted a thorough due diligence process for all the applications received. The shortlisted applications were then further evaluated through two rounds of deliberations by two sets of eclectic juries comprising industry leaders from the corporate, investment, and social worlds. The final winners were selected based on four pillars- uniqueness, impact, scalability, and sustainability.
The Marico Innovation Foundation was founded in 2003 by Harsh Mariwala at a time when innovation was not a focus of the government or corporates. The Foundation aims to nurture innovation across business and social sectors.
