Inspiring Innovation. Sharing Solutions.
Identify, test and scale innovations with a development impact in India
Other Challenges
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- The Millennium Alliance is an inclusive platform to identify, test and scale innovations with a development impact in India.
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Geography Focus
India
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Reward
- Solver : Up to USD 750,000
Grant, debt or equity plus incubation and acceleration support - Connector : National visibility
First connector of the Winners will receive national visibility on ennovent's Global Network
- Solver : Up to USD 750,000
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Clients and Partners
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Download
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Contact Details
Archana Verma
archana.verma@ennovent.com
+91 9175979353
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Brief
There is no dearth of Innovations happening at grass root level and these are the ones affecting the people at the BoP, but many a times the benefits of such Innovations do not percolate down their target customer segment. And that is one of the primary reasons behind the widening disparity between the rich and the poor in India. The need of the hour is to focus on the BoP and find opportunities, not only from a marketing perspective but also from the perspective of uplifting citizens and bringing them to the mainstream. Entrepreneurship that brings Innovative Products to the market is the best bet to achieve this aim.
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Selection criteria
Letters of Interest (LOIs) will be evaluated based on the following parameters:
- The degree to which the solution demonstrates: Possibility of significant development impact for millions of individuals within ten years;
- Development status and time required for the innovation to be market ready;
- Feasibility to be more cost-effective and efficient than competing alternatives
- Project team and partner organization(s) (if applicable) offer the opportunity to bring skills and expertise necessary
- Need and demand for the solution at the BOP level
- Completeness of the LoI.
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Evaluation process
1. Screening of LOIs: The Letters of Interest (LOIs) will be screened using the selection criteria. The shortlisted applicants will be contacted on or before Nov 15th, 2012 for submission of full application forms.
2.Expert Selection: An Expert Panel will individually review all the applications, screen and rank them. The highest ranking applications from each category will be selected as winners and awarded on Feb 15th, 2013.
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Organizer details
Profile
Established in 1927, Federation of Indian Chambers of Commerce and Industry (FICCI), is the largest and oldest apex business organisation in India. Its history is closely interwoven with India’s struggle for independence, its industrialization, and its emergence as one of the most rapidly growing global economies. FICCI has contributed to this historical process by encouraging debate, articulating the private sector’s views and influencing policy.
A non-government, not-for-profit organisation, FICCI is the voice of India’s business and industry.
Ennovent is supporting the Millennium Alliance Awards on behalf of FICCI.
