Marico Innovation Foundation highlights pioneering ventures through Innovation for India awards

The year 2024 marks a pivotal moment for innovation in India. India proudly holds the 40th position among 132 economies in the Global Innovation Index 2023, as recognised by the World Intellectual Property Organisation. With the addition of over 950 tech startups last year alone, India has cemented its position as the third-largest tech startup ecosystem worldwide. The total count now stands at over 31,000 tech startups, boasting an impressive 91 active unicorns valued at over $1 billion each. Government initiatives and an influx of venture capital investments continue to drive groundbreaking solutions aimed at addressing critical global and local challenges.

At the heart of this innovation surge is the Marico Innovation Foundation (MIF). Established in 2003 as a non-profit subsidiary of Marico Limited, MIF is dedicated to nurturing and supporting Indian innovations. With a sharp focus on creating substantial socio-economic and environmental impacts, MIF supports transformative projects through its two flagship initiatives: the Scale-Up Program and the Innovation for India Awards.

Applications for the awards open on Jun 17, 2024. Click here to apply.

Innovation for India Awards

Initiated to spotlight and support the unseen game-changers in the Indian innovation scene, the Innovation for India Awards are more than just accolades—they are a testament to the ingenuity and resilience of Indian innovators. Celebrating its 10th edition in 2024, this biennial event is recognised as one of the most prestigious innovation awards nationally.

The awards have a unique and robust evaluation process spanning over eight months to handpick the most disruptive and promising innovations as the winners. This includes two rounds of deliberations by an independent jury of each category and a thorough on-ground due diligence conducted by an independent knowledge partner. Innovations across two categories are recognised — business (for-profit) and social (not-for-profit).

Over the last nine editions, the Innovation for India Awards have recognised over 65 transformative innovations. Notable business winners include Ishitva Robotic Systems, which enhanced recycling efficiency with AI technology; Dhruva Space, advancing India's role in the global space economy; and Dozee, which innovatively converts any bed into a cost-effective e-ICU. In the social sector, winners like India Development Review, which bridges knowledge gaps through curated content; Khushi Baby, which uses wearable tech for infant health monitoring; and Goonj, focusing on essential clothing for disaster relief, have made significant impacts.

Applications for the awards open on Jun 17, 2024.

Why should you apply

• Access to MIF’s exclusive Innovation Day: A platform for winners to garner business opportunities, network with relevant people, and receive support for their work through pilots and funding.
• Access to MIF’s Scale-Up Program and Strategic Mentorship: Opportunity to be a part of MIF’s rapid acceleration Scale-Up Program.
• Leadership and Executive Presence Coaching: Personalised training sessions in the art of storytelling and executive presence by Ravishankar Iyer (CA, IIMA). Along with that six dedicated leadership training sessions, aimed at refining entrepreneurial leadership skills, by Aparna Mehra, a professional certified coach These sessions will focus on areas such as team building, collaboration, and conflict resolution.
• Innovation For India Awards showcase: Opportunity for winners to showcase their innovations and stories to top leaders from India's business ecosystem at the Grand Finale of Innovation for India Awards
• Media Coverage and Digital Exposure: An opportunity for winners to amplify their achievements, increase awareness, build credibility, and attract opportunities for networking and partnerships. Each winner stands to gain a cumulative PR value of Rs 1.5 crore during and post-award amplification, including dedicated coverage across premier media platforms.

The Innovation for India Awards not only recognises the brilliance of today's innovators but also inspires future generations to dream big and contribute meaningfully to India’s innovation narrative. By participating, innovators gain visibility and the critical support needed to scale their solutions and maximise impact.

Apply Here for the Marico Innovation for India Awards 2025 and take a significant step towards transforming India’s innovation landscape.