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Marico Innovation Foundation ‘Innovation for India Awards 2023’

Marico Innovation Foundation 'Innovation for India Awards 2023'


Marico Innovation Foundation ‘Innovation for India Awards 2023’

Known for unearthing first-to-the-world innovations through the flagship ‘Innovation for India Awards’ – Marico Innovation Foundation (MIF), announced 7 winners in its 9th edition. Innovations were recognized across two broad categories – Business & 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.

Witnessing the inspiring innovations, Mr. 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 honours such  disruptive innovations and believes that with the right support and nurturing, every business has the potential to create scalable impact for a future-ready India.”

The business category saw applications from 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 & 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.

Mr. Amit Chandra, Honorary Chairperson – Governing Council – Marico Innovation Foundation and Chairperson, Bain Capital India Office, 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 9th edition 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 of industry leaders from the corporate, investment, and social worlds. The final winners were selected based on four pillars- uniqueness, impact, scalability, and sustainability.

About Marico Innovation Foundation: 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. ‘Innovation for India’ Awards – Incepted in the year 2006, it’s a biennial platform that has become the benchmark for recognition in the country with the most prolific leaders and thinkers coming together to handpick and recognize undiscovered innovations in 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.

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