About Marico innovation foundation
Marico Innovation Foundation: Nurturing Exceptional Innovations for a Better Society
Innovation is the key to progress and growth. It is the driving force behind every successful business, organization, and society. However, not all innovations are created equal. Some have a greater impact than others, transforming entire industries and changing people's lives for the better. At Marico Innovation Foundation, we recognize the power of exceptional innovations and strive to nurture them for a better tomorrow.
Founded in 2003 by Harsh Mariwala, Marico Innovation Foundation (MIF) is a non-profit organization that aims to foster innovation in India by identifying and supporting exceptional innovators who have the potential to create significant social impact. MIF believes that innovation can be a powerful tool for solving some of India's most pressing challenges such as healthcare, education, agriculture, environment etc.
One path-breaking innovation has a domino effect in changing the entire ecosystem. At MIF we nurture such exceptional innovations that have positive impact on society.
MIF's mission is to create an ecosystem where innovators can thrive by providing them with access to funding, mentorship programs and networking opportunities with industry experts from various fields like technology , healthcare , agriculture etc . The foundation also works closely with government agencies , academic institutions , corporates etc., to promote innovation culture across India.
Over the years MIF has supported several innovative projects across various sectors like healthcare , education , environment etc . Some of these projects include:
1) Project Chirag - A solar-powered LED lamp designed specifically for rural households without access to electricity.
2) Swasth India - A mobile health platform that provides affordable primary healthcare services through telemedicine.
3) AgroStar - An e-commerce platform that connects farmers directly with suppliers of agricultural inputs like seeds & fertilizers.
4) Saral Designs - A startup focused on improving menstrual hygiene management among women in rural areas through innovative sanitary pads.
MIF's selection process is rigorous and involves a thorough evaluation of each project based on its potential impact, scalability, sustainability and innovation quotient. The foundation also provides ongoing support to the selected innovators through mentorship programs, networking opportunities and access to funding from various sources like government grants , corporate social responsibility funds etc.
In addition to supporting innovative projects, MIF also conducts various initiatives aimed at promoting innovation culture across India. These initiatives include:
1) Innovation Awards - An annual event that recognizes exceptional innovators across various sectors.
2) Innovation Bootcamps - A series of workshops aimed at providing aspiring innovators with the skills and knowledge needed to turn their ideas into reality.
3) Innovation Conclaves - A platform for industry experts , policymakers , academicians etc., to discuss emerging trends in innovation and share best practices.
MIF's efforts have been widely recognized both nationally and internationally. In 2018, MIF was awarded the prestigious Porter Prize for creating shared value through its innovative approach towards social impact. The foundation has also been featured in several media outlets including Forbes India , Economic Times etc.
In conclusion, Marico Innovation Foundation is a pioneering organization that is playing a crucial role in fostering innovation culture across India by identifying and supporting exceptional innovators who have the potential to create significant social impact. With its focus on nurturing innovations that can transform entire industries and change people's lives for the better, MIF is truly making a difference in building a better tomorrow for all of us.