INNOVATION BEGINS WITH CURIOSITY.
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Through this flagship program, we help innovative organizations (business and social) in scaling-up their business by harnessing the network of senior Marico mentors, industry experts, management consultants, students from top B-School, Impact investors and Incubators / accelerators.
This is a structured, deep rooted mentoring program. We diagnose the critical business challenges that you might be facing, suggest and implement prototype solutions to the challenges and integrate the successful solutions into the business. The intervention leads to tangible results like increase in revenue, reduction of cost, setting up manufacturing lines, SOP’s and KPI’s, dash boarding etc. and the engagement ends when you are ready to scale up independently.
Watch this video to know more.
Organisations that have an innovative product / service / operational model that has potential to scale.
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.
Our cohort is diverse in terms industry and challenges, which gives you opportunity for cross learnings.
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 years of experience in their respective functions, who take time from their business-as-usual to support innovative organisations
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 Marico Innovation Foundation and the organization. The organisation's information will remain fully confidential with us.
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.
We strictly do 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 our resources 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 small fee to simply warrant skin in the game.
We strive towards the single goal of nurturing innovation in India. Scale-Up Program lies at the core of our existence. We take pride in achieving impact in the scale up journey of our member organizations and hence the innovation at hand.
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.
- MIF awards is one of the pioneers in recognising innovations and showcasing them to a relevant audience (comprising of top CXO's and innovation heads from India Inc. , entrepreneurs, venture funds and academia closely linked with the innovation ecosystem in India)
- To win program rewards like –
- Business and investment opportunities
- Mentoring sessions with industry stalwarts like Harsh Mariwala
- Curated Diagnostic Panel to solve for business challenges you might be facing
- Direct entry to our Scale-Up Program
- Facilitated ecosystem connects
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 10 years. All innovations that have been implemented during or after 2009 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
The application form for MIF Awards 2020 will be for 4 weeks till 31st July, 2019.
The process of evaluation of MIF Awards is divided in the following 5 stages:
a) Invitation of 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 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 does not offer any cash prize.
The final awards ceremony will be held in the last week of February 2020 in Mumbai.
You can write to us at innovationawards@marico.com
No, the application form needs to be filled online only.
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. The information will not be shared with or sold to any third party.
You will be informed by the 2nd week of December 2019.
No, the form does not permit saving the application.
You can read about the Terms and conditions for the awards on our website. By submitting the application form, you agree to the terms and conditions on our website.
You can read more about the MIF Awards on our website.
