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V-Guard Announces Winners of Annual Big Idea 2023 Contest

In Business
September 26, 2023

The 13th edition of V-Guard’s prestigious annual Big Idea contests for students from management and engineering institutions culminated on Saturday (September 22, 2023). The finals of this year’s Big Idea Business Plan and Tech Design contests took place from September 21st to 23rd, 2023, showcasing over 300 entries from leading institutions across different parts of the country. This year’s contest theme, “The Hygienic, Multi-tasking, Intuitive Kitchen for a Better Tomorrow,” challenged young minds to harness technologies like 5G, AI, IoT, and more to create a safer and more efficient kitchen life.

In the Business Plan contest, Arshad Allauddin Pimpare, Souvik Mondal and Akash Hirugade from IIM Trichy clinched the first prize, while IIM Kashipur and NITIE Mumbai secured the positions of first and second runners-up respectively. IIM Ranchi, T.A. PAI Management Institute Manipal, IIM Bodhgaya earned the special jury award for outstanding submission.

Krishna Prasad, Abhijith Jithesh and Vaibhav Krishna from Muthoot Institute of Technology and Science emerged as the winner of the Big Idea Tech Design contest. The first and second runner-up positions were secured by The L N M Institute of Information Technology, Jaipur and Kongu Engineering College Erode respectively. The LNM Institute of Information Technology and National Institute of technology, Rourkela earned the special jury award for outstanding submission.

A total of 31 teams were shortlisted for the Business Plan contest, while 14 teams advanced to the Tech Design segment. Finalists were tasked with presenting innovative and insightful ideas aligned with V-Guard’s business strategy for sustainable growth.

The winners of the Business Plan contest were bestowed with cash prizes of Rs. 2,00,000, Rs. 1,00,000, and Rs. 50,000 for the top three positions, along with trophies and certificates of recognition.

In the Big Idea Tech Design contest, the winners received cash prizes of Rs. 100,000, Rs. 50,000, and Rs. 25,000 for the first, second, and third positions respectively. Additionally, two teams in the Business Plan contest received a special jury award, each carrying a prize money of Rs. 25,000.

The shortlisted teams presented their competitive concepts and strategies during the grand event held in Kochi. These ideas were evaluated based on criteria including originality, practical applicability, feasibility, simplicity, and their potential positive impact on V-Guard’s business and its consumers.

Kochouseph Chittilappilly, Chairman Emeritus of V-Guard Industries Ltd., graced the valedictory function and felicitated the winners.

The four-member Jury Committee responsible for selecting the winners of the Business Plan contest included Rajesh Nair, Associate Director, EY, Sudarshan Kasturi, Director & CFO, Narender Singh Negi, Vice President- R&D (Electronics) and Arif Mohammad Kooliyat, Vice President, NPD.

The presentations for the Tech Design contest, tailored for engineering and design students, were evaluated by a panel consisting of Narender Singh Negi, Vice President- R&D (Electronics), Arif Mohammad Kooliyat, Vice President, NPD, Prasad Teni, Sr General Manager- Home Appliances, and James M Varghese Sr General Manager & Head- ID.

The Big Idea contest has evolved into a platform for young, dynamic minds to engage with top leaders at V-Guard. This opportunity allows them to deliberate on business challenges, refine their thought processes, and cultivate an atmosphere of innovation.