The Marico Innovation Foundation was created in March 2003 under the stewardship of Dr. Ramesh Mashelkar. The Foundation’s Mission is to Fuel Innovation in India, by providing the nation with a belief that Innovation is possible and is the way to leapfrog India into the center stage of global business leadership. The Foundation also believes that a framework will enable leverage innovation for quantum growth. The foundation is steered by a governing council that oversees both its vision and direction.
Marico Innovation Foundation will hold its 3rd edition of the Innovation for India Awards to be held on 12th March 2010 in Mumbai. Any Indian company, social organization, government body and/or individuals who have successfully conceptualized and nurtured a brilliant idea, made it work and brought it to market is eligible to participate.
The three categories under which Innovation will be awarded are – Business Innovation (Products/Services, Business Model and Innovation in social space by a business organisation) and Social Innovation (innovation by a social organisation). Public Services Innovation (innovations by Central or State governments or any wing of the government including public-private partnership) The Award winners will get felicitated in Mumbai in the presence of industry stalwarts and some of the best innovators in the country. Besides cash prize of Rs 1 lakh, the Foundation would also extend its illustrious Governing Council’s support as mentors to the winners and a platform with VCs and angel investors.