Kochi: V-Guard’s prestigious annual Big Idea contest, now in its 14th edition, successfully concluded on Saturday, September 28, 2024. This year’s event attracted nearly 1,500 entries from leading management and engineering institutions across India. The Business Plan contest finals were held on September 27 and 28, while the Tech Design contest finals took place on September 26. In total, 28 teams were shortlisted for the Business Plan contest, and 20 teams advanced to the Tech Design segment.
The theme for the 2024 Business Plan contest, “Winning the Future: Innovative Strategies to Shape Tomorrow’s Homes with V-Guard Home Appliances,” challenged students to present groundbreaking plans focused on revolutionizing home appliances. Participants addressed key areas like health, convenience, sustainability, and efficiency to cater to the evolving needs of modern consumers. Meanwhile, the Tech Design contest theme, “Designing Tomorrow’s Innovative Kitchen with V-Guard’s Appliances,” encouraged young minds to envision and create cutting-edge kitchen appliances that not only enhance the culinary experience but also promote sustainability and improve efficiency.
In the Business Plan contest, Sameer Pimpare, Anshuman Biswas, Poojan Agrawal from Symbiosis Institute of Business Management, Pune secured the first prize, while Meera Nair M, Kinjal Panwar, Jithin R from Indian Institute of Management Visakhapatnam and Anshuman Thapliyal, Devansh Gupta, Bhavyaraj Singh from Mukesh Patel School of Technology Management and Engineering, NMIMS Mumbai claimed second and third place respectively. Bansi Madlani, Aeshna Anand, Piyush Sharma (Indian Institute of Management Shillong, Meghalaya), Mehul Vijay, Rishika Soni, Aayushi Prajapati (Indian Institute of Management Bodh Gaya, Bihar) were awarded the special jury prize for an outstanding submission.
In the Tech Design contest, Shivnesh More, Varad Patil from MIT Institute of Design, Pune emerged victorious. The first and second runner-up positions were secured by Komal Jain from World University of Design, Haryana and Basil Yeldho, Boyal Gijo, Albin Biju Varghese from Muthoot Institute of Technology & Science, Kerala respectively, while Divyansh Bansal, Abhi Sanghi, Archit Khurana (The LNM Institute of Information Technology, Jaipur), Pasupathi, Aravind S (KPR Institute of Engineering and Technology, Tamilnadu) earned the special jury award for their exceptional innovation.
The top three winners of the Business Plan contest were awarded cash prizes of Rs. 3,00,000, Rs. 2,00,000, and Rs. 1,00,000, along with trophies and certificates of recognition. In the Tech Design contest, the winners received cash prizes of Rs. 1,50,000, Rs. 75,000, and Rs. 50,000, respectively, for the first, second, and third positions.
The grand event, held in Kochi, saw the shortlisted teams present their innovative concepts and strategies. These ideas were evaluated based on criteria such as originality, practical applicability, feasibility, simplicity, and their potential positive impact on V-Guard’s business and consumers.
The Jury Committee for the Business Plan contest comprised Sudarshan Kasturi (CFO), Rajesh Nair (Partner – EY LLP), Arif Mohd (VP – NPD), and Narender Singh Negi (VP – R&D Electronics). The Tech Design contest presentations were evaluated by Arif Mohd (VP – NPD), Narender Singh Negi (VP – R&D Electronics), James Varghese (Sr GM & Head – Industrial Design), and Anoop Singh (Sr GM & Head – R&D – Water Heater). Mr. Mithun Chittilappilly, Managing Director, V-Guard Industries Ltd. graced the valedictory function and awarded the winners
The Big Idea contest has grown into a vibrant platform for young, dynamic minds to engage with V-Guard’s leadership, fostering an environment of innovation and creative problem-solving. It offers students a unique opportunity to address real-world business challenges, sharpen their thinking, and make an impact.