Power2SME in collaboration with TiE Delhi NCR concluded the 5thSeason of the Spirit of Manufacturing Awards at New Delhi, on the sidelines of TiE Global Summit 2018. Conceptualised in 2014, The Spirit of Manufacturing Awards are dedicated to encourage and applaud innovation in the manufacturing sector. The purpose of the award is to encourage young innovators in the manufacturing space and hone their skills with the right resources under the right leadership so they can be positioned on a fast growth trajectory. The Spirit of Manufacturing awards work as a platform to showcase some of the most promising start-ups in the manufacturing domain across the country.
This year over 1,000 nominations were received for the Spirit of Manufacturing awards, with nominations from women owned enterprises jumping over 20% as compared to last year. Of the 1,000+ nominations received top 25 entries were invited to present their business plan in front of a grand jury comprising of industry luminaries. The jury evaluated each presentation on the basis of their execution strategy, competitive advantage, management depth, sales & marketing strategy and the financial viability. Towards the end of the presentations, the scores were tabulated and winners from each category were announced.
Speaking on the occasion, Mr. R Narayan, Founder and CEO, Power2SME said that, “Through pioneering innovations, India, over the years, has emerged to be one of the leading hubs for nurturing successful start-ups and entrepreneurs. The Government’s flagship initiatives like ‘Make in India’ and ‘Skill India’ have been instrumental in supporting manufacturers and SMEs in the Indian Start-up landscape. Recognising unique ideas, products, business models and entrepreneurs at the fifth season of Spirit of Manufacturing awards is a reiteration of the potential and promise that the Indian manufacturing space exudes. With each passing year, the SOM initiative will aim to showcase and applaud inspiring business ideas in the manufacturing space.”
Ms. Lathika Pai, Country Head – Microsoft for Startups, graced the opulent ceremony as the keynote speaker and shared valuable insights on how India is emerging as a startup hub and a centre for entrepreneurship. Further, she stressed on how SMEs in the manufacturing sector have a crucial role to play in driving growth of the country’s economy.
Geetika Dayal, Executive Director, TiE Delhi NCR opined, “The start-up ecosystem is bustling with opportunities. TiE Delhi-NCR is glad to partner with Power2SME for the Spirit of Manufacturing Awards thereby helping enterprising businesses get felicitated & recognised. Now in its fifth year, the response has been overwhelming with a record number of entries. Through these awards, we aim to empower innovative business ideas by providing them with a platform to present their exceptional business propositions.”