Power2SME and TiE Announce the Winners of ‘Spirit of Manufacturing Awards’
July 26, 2014 - New Delhi, Delhi, India
Speaking on the occasion, Shri Madhav Lal said, “We are committed towards promoting start-ups and entrepreneurs in the country. In the recently announced Union Budget, the Government proposed the establishment of Rs.10, 000 crore fund to act as a catalyst for the start-up community. The National Manufacturing Competitive programme is an initiative designed to support MSMEs. We are also committed to promoting innovation and intend to have incubators in every district of the country. I believe that initiatives like the ‘Spirit of Manufacturing Awards’ provide the required motivation for innovators.”
Mr. R Narayan, Founder and CEO, Power2SME said, “We sincerely believe that SMEs have the potential to rescript the India growth story. It is imperative to not only reward, but also continuously motivate the functioning of this sector. We, at Power2SME are committed to empowering the SME community. I would like to thank TiE for partnering with us and am confident that we will to make a difference to manufacturing industry.”
- Excellence in Innovation and IT Adoption- Mr. Lalit Ahuja, Ahuja Corporation and Mr. Vinay Chadha, GVC Systems
- Best Social Impact-Mr. Sahil Dharia, Soothe Healthcare
- Woman Entrepreneur of the Year- Ms. Hiresha Verma, Hanzen International
- Young Entrepreneur of the Year- Mr. Aditya Singhal and Ms. Garima Narang, IML Jeans
The Eminent Jury:
- Shri Harkesh Kumar Mittal- Adviser and Member Secretary at National Science & Technology Entrepreneurship Development Board (NSTEDB)
- Mr. Amit Chaturvedi, President – Strategic Planning & Projects, Hero Corporate Services
- Mr. Ashish Gupta, COO and Country Head, Evalueserve
- Mr. R Narayan , Founder and CEO, Power2SME
The formal announcement of the ‘Spirit of Manufacturing Awards’ was made on October 5, 2013. This annual award series is aimed at encouraging innovation and entrepreneurship in the country and aspires to provide the necessary visibility, ecosystem and mentorship for new SME start-ups to scale their operations in their respective sectors. The awards were spread over 4 categories. There were over 170 applications received.
The rewards for the winners were a mix of financial, consulting, brand building as well as mentorship benefits. Access to advice from consulting major – Deloitte, Pro Bono Mentoring Engagement From TiE Delhi, Special Discount Packages from Power2SME for their suite of services, access to big ticket major TiE events like TiEcon were the major highlighting benefits.
Ms. Geetika Dayal, Executive Director, TiE Delhi-NCR concluded by saying, “TiE has always been committed to empowering entrepreneurs and applauding innovation, across industries. We are glad to have joined hands with Power2SME to roll out this initiative. We are committed to working towards motivating this niche industry.”
The selection and short listing was based on the innovative skills and their tangible impact in the way business is conducted. Facts and proofs in support with the business idea were compulsory. The expert panel reviewed the business structure, its success; the innovation and its retrospective impact on the business, amongst other critical parameters before short listing the companies.
Power2SME’s mission is to “Empower SMEs to enable the India growth story”. It has an innovative business model which enables the small and medium enterprises to obtain the most optimal pricing for their procurement needs. The company pools the demand of hundreds of SMEs for multiple products for their business needs, thus allowing it to not only obtain the most optimal pricing but also a larger pool of quality suppliers. It buys directly from the manufacturer and sells to the SME directly, cutting out the middle link of distributors and wholesalers. The services on offer go beyond being a match making platform. Power2SME takes complete ownership of the entire order process, including taking title of the goods and ensures quality of the raw material at the best price available to SMEs. Their team comprises of experienced and specialized professionals that negotiate the prices directly with manufacturers and can obtain prices that are significantly lower than the standard market prices. It also provides an online platform that is available to its SME customers and can be accessed without any charges. The portal allows the SMEs to track all their purchases as well as undertake transactional activity such as placing new enquiries, checking price quotes submitted by Power2SME, creating/uploading purchase orders, checking status of delivery, account statement, notification of payment due etc. Power2SME has SME clients with turnover ranging from Rs 5 crores to Rs 250 crores and works with established suppliers which include Indian Oil, Arcelor-Mittal, Azko Nobel, SAIL, GAIL, Jindal Steel, and Rathi Steel, several others. For more information, visit http://www.power2sme.com.
You can also us on Facebook (www.facebook.com/power2sme),
& Twitter (https://twitter.com/power2sme).
TiE is recognized as the global organization fostering entrepreneurship through mentoring, networking and education. The purpose of TiE is to encourage and nurture the next generation of entrepreneurs and add to the virtuous cycle of wealth creation spurring development and economic growth in vibrant yet under-developed regions. The Indus Entrepreneurs (TiE) was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 15,000 members, including over 2,500 charter members in 62 chapters across 18 countries. Delhi Chapter is among the largest and most vibrant across the vast TiE network. In the last 10 years, it has emerged as the forum of choice for startups, serial entrepreneurs, VC and angel investors, policy makers and academia. At the heart of the entrepreneurial ecosystem, TiE Delhi plays the role of an ecosystem builder by bringing in multiple stakeholders and values to align with the common goal to foster entrepreneurship.
The winners of the Spirit of Manufacturing Awards L to R- Mr. Lalit Ahuja, Ahuja Corporation; Mr. Sahil Dharia, Soothe Healthcare; Ms. Hiresha Verma, Hanzen International; Mr. Vinay Chadha, GVC Systems; and Mr. Aditya Singhal, IML Jeans
The Spirit of Manufacturing Award winners with Sh. Madhav Lal, Secretary, Ministry of MSME and Mr. R Narayan, Founder and CEO, Power2SME and Ms. Geetika Dayal, Executive Director, TiE Delhi-NCR
Source: Business Wire India