ASSOCHAM announces 1st Innovators’ Excellence Award 2020 Winners

New Delhi: “India has the true potential to become the Innovation Nation of the World” – Prof Ashutosh Sharma, Secretary, Department of Science and Technology, Govt of India

New Delhi, 28th September 2020: In a bid to improve the world ranking of India on the Global Innovation Index and to reward and recognize the industrial innovation, ASSOCHAM organized the 1st edition of the annual prestigious Innovators’ Excellence Awards in the august presence of Prof Ashutosh Sharma, Secretary, Department of Science and Technology, Govt of India, Mr R Ramanan, Mission Director, Atal Innovation Mission and Mr A.S. Mittal, Vice Chairman, International Tractors Ltd, Sonalika.

In first of its kind platform to celebrate and acknowledge the importance of innovation and entrepreneurship in Indian industrial ecosystem, with an objective of promoting India as the Innovation Nation of the world, especially during the crisis times that the whole world is experiencing from past several months, Innovation in every field has played a major part and helped us learn how to survive and move towards the new normal of our lives.

Among the award winners, Bharat Petroleum Corporation Ltd. (BPCL) won the award for their innovation in environment and sustainability as this model opens the possibility for bench marking based on fired energy consumption constantly & can be implemented in any refinery as it uses standard software currently used in global refineries, Tech Mahindra Foundation won the award for their Innovation in CSR Initiatives for their social project i.e Mobile Science Lab which has had a perceptible impact on the community & has contributed to societal development.

While CESC Limited won for Innovation in Services Sector, Innovation in Manufacturing is won by ASG Biochem, TIPS Engineering Pvt Ltd won the award for Best Innovation by an SME, Process Innovation by Segoma Imaging Technologies & New Product Innovation (B2B) by Resil Chemicals Pvt Ltd.

Prof Ashutosh Sharma who graced the occasion as the Chief Guest stated that India can bring a paradigm shift and can be in the top 25 countries in the next global index rankings if each stakeholder in the larger socio-economic ecosystem collectively contributes in creating implementable solutions.

Mr AS Mittal highlighted the importance of innovation. Further he added that according to him major challenge for India from last many years, is basically not being able to make the journey from mind to-market place. It is often discussed that Indian innovations are consistently incremental and not disruptive. Even when Indian innovations come out to be disruptive and game-changing, most of them fail to create the viable and merchantable products with efficient speed, scale and sustainability. And suggested that this challenge can be addressed by building a powerful national innovation eco-system.

Mr Ramanan, highlighted the successful exploitation of new ideas is crucial to a business being able to improve its processes, increase its efficiency and, most importantly, improve its profitability. Every day new ideas are generated in the industrial world. New products are created. New methods are executed. Industry leaders manage to look at problems in different ways and come up with new solutions that others were previously unable to, offering a never-ending stream of value to the companies for which they work.

Mr Deepak Sood, Secretary General, ASSOCHAM talking about the initiative shared “Over the years, industry leaders have shown that innovative ideas can produce ground breaking results when face with challenges. The COVID 19 outbreak is no exception. However, pandemic has brought a new sense of urgency to innovative efforts, ideas and provided a unique opportunity to bring in renovation of innovation in organizations.The call for AatmaNirbhar Bharat by our Hon’ble Prime Minister could be achieved if India punches above its weight class & compete to address key socio-economic challenges being faced.”

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