Winners of the annual Big Idea Contests organised by V-Guard Industries Ltd were announced on Saturday ,20th November 2021. This year’s Big Idea Business Plan and Big Idea Tech design contests finals were held on 18th, 19th and 20th Nov 2021 and witnessed more than 300 entries from top business schools and engineering colleges from across the country. Indian Institute Of Management, Nagpur won the first prize and first runner up position in Business Plan contest and SVKMS NMIMS, Mukesh Patel School Of Technology Management & Engineering, Mumbai declared first and second runner ups respectively in the contest from a total of 22 teams shortlisted for the grand finale. International Management Institute, Delhi and Indian Institute Of Management, Sambalpur were qualified for the special jury award.
Muthoot Institute of Technology, Vaikoli has bagged first prize in Big Idea Tech design contest. St Joseph College of Engineering and Technology, Palai and Christ College of Engineering, Irinjalakuda were declared first & second runner up.
This year’s competition themes were “Tomorrow’s business models that will bridge the gap between Digital and Physical to usher in a better tomorrow” for B-Plan Contest and “How can V-Guard enable a better quality of life with thoughtful and smart products that will bring home a better tomorrow” for Tech Design Contest. This was meant for the participants to present insightful and innovative ideas for business growth in alignment with the business strategy of V-Guard.
The Business Plan contest winners were awarded cash prizes worth Rs. 2,00,000,Rs. 1,00,000, Rs. 50,000 for the top three positions respectively along with trophies and certificates of appreciation. Big Idea tech winners received cash prize worth Rs.100,000, Rs. 50,000, Rs. 25,000 for the first three positions
respectively. Two teams qualified for special jury in Business Plan contest and received prize worth Rs.25,000. Shortlisted teams presented their competitive ideas and plans in a virtual event held.
The Four-member Jury Committee who chose the B Plan winners was headed by Rajesh Nair, Business Leader, EY LLP, Kochi along with V. Ramachandran, Director & COO, V-Guard, Sudarshan Kasturi, Sr. Vice President & CFO, V-Guard and Narender Singh Negi, Vice President – R&D (Electronics). The ideas presented by the participants were judged on parameters such as ingenuity, practicality of application, feasibility, simplicity and the positive impact it can have on V-Guard’s business and its consumers. Kochouseph Chittilappilly, Chairman Emeritus, & Mithun Chittilappilly, Managing Director, V-Guard Industries Ltd. graced the valedictory function and awarded the winners.
The jury who judged the tech design contest include Narender Singh Negi, Vice President – R&D (Electronics), Prasad Sudhakar Teni, Sr. General Manager – Home Appliances and James M Varghese, GM – R&D (Industrial Design). The event has created a platform for interaction with top leaders of V-Guard, wherein the young minds can discuss and understand the business challenges to fine tune their thought process and foster a spirit of innovation in them.
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