Marico Innovation Foundation Unveils the 7 Sutras of Innovation for Indian Entrepreneurs

Mumbai: Latest book, a follow up to its first bestseller released in 2009 Stories of inspiring and scaled innovations like Agastya International Foundation, The Better India, Indian Space Research Organisation (ISRO), St. Jude India, Goonj, Rivigo, Tonbo Imaging and Forus Health featured in the book.

Founded with an aim to nurture innovations in the country, Marico Innovation Foundation launched its second book – ‘7 Sutras of Innovation’ with Mr. Harsh Mariwala unveiled the book at a launch event in Mumbai. The book follows the journeys of select past ‘Innovation for India’ Awardees that have made a mark in their respective fields and also managed to build scale along the way. What makes this book a unique read are the 7 sutras culled out strategically from these stories that are practical and applicable not only for entrepreneurs but also for professionals, corporates, students and institutions alike. The event also addressed a thought-provoking fireside chat between Mr. R Gopalkrishnan (Author, Corporate Advisor & GC member of Marico Innovation Foundation) in conversation with K Chandrasekhar (Founder & CEO, Forus Health Pvt. Ltd.) & Anshu Gupta (Founder of Goonj) around how innovation has helped them to drive their vision ahead.

Written by Nikhil Inamdar, the book covers 8 past ‘Innovation for India’ Awardees; each one dramatically different from the other in terms of their scope of operations, product profile, sector or business model. But irrespective of this diversity, or the fact that each of them have had their individual journeys and milestones that aren’t necessarily analogous with one another, it has been possible to distill 7 clear and applicable SUTRAS that they have all abided by, while also eliminating behaviors that could have posed as serious impediments to development in their formative years.

For entrepreneurs, starting a business is really like having a baby; and the journey between start-up and scale-up is quite akin to the treacherous ride between childhood and adulthood. The book beautifully brings out why scaling up a business is not quite the same thing as starting one.

Covering defining shifts in their entrepreneurial journey, the innovators share their learnings on leveraging and overcoming failures, identifying market threats and building strategies to deal with competition. The stories are enablers for entrepreneurs aspiring to scale-up their innovations and amplify the impact by cross-pollinating these learnings.

The prominent Indian publisher Jaico Publications has provided editorial and distribution support for the book and A.T. Kearney has been the knowledge partner for designing the frameworks of interactions and prioritizing content for this book.

Speaking on the occasion, Mr. Harsh Mariwala, Founder of Marico Innovation Foundation and Chairman of Marico Limited said, “With start-ups becoming a buzzword in today’s time, it is easy to believe that the road for entrepreneurship is smooth. However that is hardly ever the case, and in my personal experience, entrepreneurship is peppered with ample failures and some astounding moments of joy. What keeps an entrepreneur going is his belief in his idea, his innovation; and the impact that it will likely create in the face of all the challenges that emerge while scaling for success. These stories are testimony to the gumption and faith that innovators must hold steadfastly in order to bear witness to the impact their innovation can create.”

Speaking about their journey to success, the innovations featured in the book (who are also recipients of ‘Innovation for India’ awards- India’s most prestigious platform for recognising Innovation) are Agastya International Foundation, The Better India, Indian Space Research Organisation (ISRO), St. Jude India, Goonj, Rivigo, Tonbo Imaging and Forus Health.

Dr. R. Mashelkar, Honorary Chairman of Governing Council of Marico Innovation Foundation adds, “The book shares a deep perspective on the journey and the struggles of our innovators and how they have been able to overcome their challenges. The stories are relatable, real and most importantly aspirational. With India recognised as the 3rd largest start-up hub in the world, lessons learnt by the early starters are valuable for the innovators waiting in the wings. Through this book, we have tried to highlight the challenges faced by individuals and how they triumphed over them and hope that their stories serve as an inspiration to aspiring innovators across the nation and the world!”

The first book by Marico Innovation Foundation released in 2009 was titled Making Breakthrough Innovations Happen. It aimed to spur innovation by sharing stories of 11 Indians who have disrupted the industries they work in. Having sold more than 65,000 copies thus far, the book set a benchmark for innovation and became a bestseller in the genre.