New Delhi [India], March 29 (ANI/NewsVoir): Power2SME in collaboration with TiE Delhi-NCR concluded the online award ceremony of the Spirit of Manufacturing Awards last week, on the side-lines of Unstoppable India: TiEconDelhi 2022. This year marks the 8th season of the awards.
Initiated in 2014, The Spirit of Manufacturing Awards are aligned with the Indian government's call to "Make In India" and seek to applaud innovations in the manufacturing industry and encourage young innovators in the manufacturing space to hone their skills with the right resources under the right leadership so they can be positioned on a fast growth trajectory.
With Pre-screening of all online applications for each category, followed by assessment of selected applications, the final list of top 16 contestants was generated. The selection of the final winners was announced on the basis of their presentation in front of a team of Jury members, comprising business experts and industry veterans, on March 24, 2022 and scores amalgamated from the previous rounds. The Jury evaluated each presentation on the basis of the Execution Strategy, Competitive Advantage, Management Depth, Sales & Marketing Strategy and the Financial Viability. Towards the end of presentations, the scores were tabulated to announce the winners from each category.
R Narayan, Founder and CEO, Power2SME elaborated that, "COVID-19 served as a huge setback for business not only across India but across the world. Manufacturing being among the worst hit, India's startups have shown resilience. We're glad to have been able to showcase their innovative offerings and solutions. The 8th season of the Spirit of Manufacturing Awards continue to applaud the entrepreneurial spirit of India. From robotics and automation to solving crucial social issues like waste management/water management, India's startups are building business models for the society as a whole."
Geetika Dayal, Executive Director, TiE Delhi-NCR speaking at the event said, "The Spirit of Manufacturing Awards, now in its 8th Season, was set up to put a spotlight on the innovative ventures in the manufacturing domain, in India. Our partner Power2SME has played a seminal role in anchoring this movement towards a self-reliant country. Every year we witness the quality of applications going up. The platform has evolved over the years, making the initiative stronger & a force to reckon with."
The winners were awarded across 5 categories based on the innovative skills and the tangible impact showcased. The categories included Social Impact, Young Entrepreneur, IT Adoption & Innovation, Woman Entrepreneur of the Year and Special Jury Award.
The first 'Buying Club' for SMEs in India, Power2SME, financially backed by Nandan Nilekani, Inventus Capital Partners, Kalaari Capital, the International Finance Corporation (IFC) and Accel Partners, began operations in 2012. Committed to empowering SMEs by increasing their profits, Power2SME focuses on reducing purchase prices for SMEs and enhancing productivity. Power2SME enables SME clients to focus on their core business of driving growth and expansion, while taking on the role of sourcing input raw materials at the most competitive price points across multiple products in categories such as Chemicals, Additives, Inks, Paints, Metals, Polymer Commodity, Polymer Engineering, etc. The company, today, has 12 offices spread across Chennai, Kolkata, Ahmedabad, Gurgaon, Bangalore, Pune, amongst others, with a team of 200-plus employees across India.
Power2SME works with established and trusted suppliers such as SAIL, TATA Steel, ESSAR Steel, Allied Strips, JSW, Rathi Steel, Victor Exim, Balaji Enterprise, POSCO Steel, Apollo Pipes, JSL, and many more.
For more details, please visit: www.power2sme.com.
TiE is a global not-for-profit organization dedicated to fostering entrepreneurship through mentoring, networking, education, incubation and funding. It is spread across a vast network of 61 Chapters in 14 countries. TiE Delhi-NCR is among the most active chapters across the vast TiE network. In over 2 decades, it has continuously taken the lead in creating an increasingly positive ecosystem for entrepreneurs and investors. TiE has a wide range of programs including TiEcon, Startup Expo, India Internet Day, Special Interest Groups (SIGs) across sectors, TiE Venture Studio a 9-week limited intensive curriculum for a curated cohort focused on early-stage founders & TiE Young Entrepreneurs.
For more details, please visit: delhi.tie.org | tiecon-delhi.org.
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