Private initiative to propel innovation of technology in India
Indian Mahindra group was listed 2012 on Forbes Global 2000 list on the biggest and most powerful listed companies in the world. In 2013 the Mahindra Group received the Financial Times “Boldness in Business” Award in the category Emerging Markets. This company has launched on February 28, 2014 India’s biggest innovation award (USD 1 million)
“Rise Prize” is the awards name to drive globally relevant, disruptive innovation, with the aim to build up a culture of innovation in India. The first focus lays on the Mobility Challenge, inviting solutions for driverless (autonomous) cars in India. The second is the Solar Challenge, aimed to make solar energy products more accessible. All forms part of Spark the Rise platform that seeks to catalyse innovation and entrepreneurship in India.
According to Anand Mahindra, Chairman of Mahindra Group, the company wants to provoke big disruptive ideas that can dramatically change lives, and by offering a big incentive for fresh thinking among the new generation of innovators in India. It is the company’s ambition to propel India in to the next orbit of Innovation and develop the nascent innovation ecosystem in India. Essentially, the company wants to catalyse the rise of world class, world beating innovations and technology from India.”
The “Spark the Rise” (STR) website’s new “Challenge” section will highlight critical global issues, which if solved, could prove to be game changing. These would range from transportation and renewable energy, to technology and healthcare, among others.
STR’s collaborative approach seeks to achieve scale by connecting people, partners, and resources. From development agencies and investors, incubators and accelerators, to research centres, and individuals who have the passion and drive to see India innovate.
Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency. It is a multinational group with a turnover of USD 16.7 billion headquartered in Mumbai, India with 180000 associates in over 100 countries. It operates in key industries that drive economic growth and enjoys a leadership position in tractors. It is engaged in farm equipment, utility vehicles, automotive and IT, agribusiness, aerospace, components, consulting services, defence, energy financial services, finance and insurance companies, industrial equipment, logistics, real estate, retail, steel, commercial vehicles, two wheeler, etc.