INNOVATION BEGINS WITH CURIOSITY.
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Started in the year 2006, MIF awards identifies and awards innovations that hold potential to generate large scale impact. Innovations are recognized under three categories – Social, Business and start-up.
MIF awards was set up to recognise innovations that have a potential to scale and generate significant impact.
a) MIF awards is one of the pioneers in recognising innovations and showcasing them to the world.
b) To network with the top CXO's and innovation heads from India Inc. , entrepreneurs, venture funds and academia closely linked with the innovation ecosystem in India
c) You may also have an opportunity to be a part of the MIF Scale-Up Program – a catalytic program that generates sustained impact for the organisation.
a) Any Indian corporate, government or public body / institutions, educational institutions, corporate foundations, for profit & not for profit social organizations
b) The innovation should be beyond the prototype stage and must have shown proof of concept. Paper ideas will not be accepted
The innovation should have exhibited results within the last 7 years. All innovations that have been implemented after 2010 are eligible.
The innovation can be in your product, process, service or operations.
a) Product: Creation of a new / unique product or technology
b) Process: Development of a new / unique method to improve business processes
c) Service: Delivering a new service or an existing service in an innovative way
d) Operations: Evolution or reinvention of a business through realignment of its resources and processes
e) Substantial and unique improvement on any existing product / service / process / operations
There are three categories under which you can apply:
a) Business
b) Social
c) Start-Up
a) If your innovation has a substantial impact on your business performance, i.e. sharp increase in revenue / market share / profits – then you should apply under ‘Business’ category.
b) If your innovation has a substantial ‘social’ impact, i.e. impact through increase in livelihoods, providing sanitation to an entire village, providing electricity to remote areas of the country – then you should apply under ‘Social’ category.
c) If your organisation is incorporated after 1st July 2012 AND has turnover less than INR 10 crore in any of the years of existence, and has huge potential for business or social impact, then apply under ‘Start-up’ category.
a) The organisation should be ‘for profit’; AND
b) Your organisation should have been incorporated after 1st July 2012; AND
c) The turnover of the organisation should not have crossed INR 10 crores in any of the previous 5 years.
The application form for MIF Awards 2018 will be for 8 weeks till 31st Aug 2017.
You can send multiple applications only if the innovation being covered under each application is different.
The process of evaluation of MIF awards is divided in the following 5 stages:
a) Invitation Application- Applications need to be submitted through the application form that is hosted online.
b) Screening- The applications will be screened objectively by our Knowledge Partners
c) Jury Phase 1- An eminent Jury comprising of representatives from both the business, start-up and social domain will evaluate each of the applications individually.
d) On Ground Due Diligence- the phase 1 of Jury round will be followed by further on ground due diligence by our Knowledge partners on the shortlisted candidates.
e) Jury Phase 2- The 2nd Jury will decide the winners based on the evaluation undertaken by the knowledge partner.
MIF awards do not have any cash prize for the business and the social categories.
The final awards ceremony will be held on the 23rd of February 2018 in Mumbai.
You can write to us at mif@marico.com
No, the application form needs to be filled online only.
The format for uploading documents will be mentioned against the question which requires you to upload documents.
All the data submitted by you will remain confidential and will only be accessed by the Knowledge partner and the MIF team.
You will be informed tentatively by the 1st week of January 2018.
No, the form does not permit saving the application.
You can read about the Terms and conditions for the awards on our website.
You can read more about the MIF awards on our website.
Through the flagship program, MIF helps innovative organizations (business and social) focus on scaling-up by harnessing the network of senior Marico mentors, industry experts, fellow CSR foundations, students from top B-School, Corporate Volunteers, Impact investors and Incubators / accelerators.
The program is designed for young innovations that are restrained from achieving scale in India due to limited resources and other such bottlenecks. Some of the common concerns are lack of business mind-set, lack of in-house expertise and lack of collaborative connections.
We diagnose the critical business challenges they face, implement prototype solutions and integrate successful solutions into the business offering of the organization at nominal fee. The deep rooted intervention leads to tangible results like increase in revenue, reduction of cost, setting up manufacturing lines, SOP’s and KPI’s, dash boarding etc.
Organisations that have an innovative product / service / operational model that has potential to scale, create large scale impact and driven entrepreneurs.
At MIF, we believe Innovation is a new & unique solution to a problem OR a substantial improvement on an existing product, service, business process in a way that adds significant value to stakeholder(s) in the value chain.
MIF has rich pool of mentors of two kinds –
- External mentors comprising of CXOs, industry stalwarts, entrepreneurs and subject matter experts who all have agreed to spare time from their daily routine to work with young entrepreneurs in their scale-up journey.
- Internal Mentors comprising of members of Marico that have over 10-15 years of experience in their respective functions, taking time from their business as usual to support innovative organisations in building implementable solutions to their challenges.
We keep our eyes, ears, and doors open. We have our in-house researchers who actively look for innovations. However, if you believe that you fit the bill as defined above, write to us at mif@marico.com . Our intake process is a rolling process and you may reach us at any time of the year. Alternately, if you are aware of any innovative organisation which may fit the Scale-up Program, you may refer them to us.
After validating the innovation, team MIF defines the scope of engagement and scouts for a suitable mentor who will work closely with the organization to resolve the business challenge. We spell out the challenges together. After a detailed understanding of the organization and its working, prototype solutions are suggested by the mentor. Team MIF helps the organization implement these alternate solutions and monitor the success. The mentor periodically reviews the progress. The engagement ends when the challenge is resolved.
There is no quick-fix solution to positively impact the growth of an organisation for the long-term. Typically an engagement lasts for 6-12 months – from identifying operational challenges to ideating and executing solutions and then reviewing the outcome.
All the information is protected under a mutually signed non- disclosure agreement between MIF and the organization. We also sign an MOU with MIF stating that you are fully committed to reap maximum benefit from this advisory service. The organisation's information will remain fully confidential with MIF.
MIF strictly does not undertake direct or indirect funding, charity, or donations of any kind. Keeping in mind our belief in the old adage ‘Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime’, we invest the resources at hand to help organizations achieve scale.
We do charge a nominal fee depending on the project scope and life stage of the organization. This is to ensure that the organization is as invested if not more in the collective efforts of Team MIF and the mentor. This is a negotiable fee simply to warrant skin in the game.
Through this intensive engagement, industry experts will help build your organization in a way to attain sustained growth. This will in turn help you create a larger impact and achieve scale in your activities. You can go through the case studies of how our initiative has helped various organisations from diverse sectors over the years.
The MIF cohort is diverse in terms industry and challenges, which gives you opportunity for cross learnings.
MIF also gives you access to the innovation ecosystem that comprises of partner organizations, foundations, incubators, accelerators, impact investors and more.
MIF strives towards the single goal of nurturing innovation in India. Scale-Up Program lies at the core of MIF’s existence. We take pride in achieving impact in the scale up journey of our member organizations and hence the innovation at hand.
