IITMIC-KRIA’tive Innovation Awards 2022: IIT Madras Incubation Cell and Kria Law join hands to award exemplary innovations by young innovators!
CHENNAI 27th April 2022: The IIT Madras Incubation Cell (IITMIC), spearheading India’s leading deep tech startup ecosystem, in partnership with KRIA Law, a full-service law firm with its core in Intellectual Property Laws, hosted the inaugural edition of the annual “IITMIC-KRIA’tive Innovation Awards” coinciding with the World IP Day on April 26th, 2022.
In alignment with this year’s theme of ‘IP and Youth: Innovating for a Better Future’, applications were invited from young innovators & startup founders from all across India to present creative & pathbreaking innovations under the categories of Technology and Social Innovation.
Eighty (80) stellar applications were received across the breadth of 10 states including Tamil Nadu, Gujarat, Maharashtra, Telengana, Rajasthan, Jammu & Kashmir, Goa, Delhi, and more, in response to the application call.
Winning innovations were identified embodying solutions to challenge systemic societal issues through the varying applications of technology, bringing about social change or improvement in the welfare and wellbeing of individuals and communities. The awards also recognized and amplified the integral role played by intellectual property rights in encouraging innovation & creativity, specifically rewarding change driven by young innovators.
Speaking on the vision of this awards, Professor Ashok Jhunjhunwala, President, IIT Madras Incubation Cell (IITMIC) and IIT Madras Research Park (IITMRP), said, “The most important thing in innovation is to make sure R&D results in commercialization. We strongly believe that by giving youngsters the opportunity to present their innovations through initiatives like this we can help them in scaling and commercializing their innovation to create real largescale impact in society. We want them to win because when they win, India wins.”
With the ‘knowledge economy’ advancing, IP continues to play a prominent role in the entire technology life cycle, from initial R&D to market introduction (demonstration to diffusion), allowing startups to protect their innovations.
Adding his views on this, Mr. Anand Shetty, GM, Patent Group, Unilever said, “I thank IITMIC & Kria Law for conceptualizing the Innovation Awards on the grand occasion of the WIPD 2022. Congratulations to all the awardees. On this day, let us be determined to embed IP and innovation at the heart of everything that we do, and let us make a sincere effort to solve the needs of our planet and the society through our innovations”
Judging the young innovators in the category of “Technology innovations” were eminent members in the Indian startup and IP ecosystem including Mr. SK Murthy (Patent attorney, Intel India), Dr. Rajan Srikanth (Co-president, Keiretsu Forum & CMD, SmartKapital) and Prof. Smitha Srivastava (Faculty, Dep.t of Biotechnology, IIT Madras).
In the social innovation category, jury present included Ms. Poorna Pushkala (Marketing Head, Samunnati), Mr. Srinivas Ramanujan (CEO, Villgro Innovations) and Mr. Anand Shetty (GM – Patent Group, Unilever).
In addition to the monetary prizes, select finalists were also offered incubation at IITM Incubation Cell, based on the novelty of the innovation, commercial feasibility, and scalability.
The winners of the IITMIC-Kria’tive Innovation Awards announced under each category were:
Technological Innovation:
Winner: Mr. Paul Pradeep, Founder, Medcuore Medical Solutions Pvt Ltd
Innovation: Medcuore is developing an Eco-centric AI-IoT Integrated Smart Alert Indoor Air Quality Monitor, and an Anti-Microbial- 7 stage filtration module.
Runners up: Mr. Ikram Khan SI, Founder, ISMO Bio-Photonics Private Limited
Innovation: ISMO is developing a low-cost 3D printed organoid on a chip, which can be used for medical research and diagnostics.
Second runners up: Mr. Pranjal Mehta, Founder, Ubifly Technologies ( ePlane Company)
Innovation: ePlane Co is building India’s first and the world’s most compact flying electric taxi, designed to make cargo transmission and intra-city commute up to 10 times faster.
Social Innovation:
Winner: Mr. Nishanth S, Founder, Novatex Technologies Pvt Ltd
Innovation: A retrofit electromechanical based device to replace manual punch cards used in weaving machines, significantly saving time, costs and making it less labour intensive.
Runners up: Mr. Divanshu Kumar, founder of Solinas Integrity Pvt Ltd
Innovation: Solinas uses robotics for pipeline inspection solutions ensuring sanitation, clean drinking water and aim to save 1000s of human lives that are lost while cleaning septic tanks.
Second runners up: Mr. Lokeshwar Reddy, Co-founder, Road Pilot Technologies Pvt Ltd and Mr. Pravin Kumar, Founder, Dextroware Devices Pvt Ltd
Innovation:
Road pilot technologies is introducing the first mobile app in the Indian trucking industry, which serves as a platform to connect and fulfil the needs of Truck Owners, Truck Drivers, Mechanics, & Dhaba’s.
Dextroware’s head-wearable device enables handsfree operation of computers & smartphones, specifically designed for people with upper-limb disabilities or injuries thus enabling accessibility to education, jobs and other opportunities.
The event also brought forth insightful exchanges from a stellar IP industry expert lineup through a panel discussion on “Innovation to Commercialization” exploring the various technological, business, and social perspectives of IPs in technological development & commercial deployment.
Mr. Bharath M.S, Founder, KRIA Law said, “KRIA Law had the pleasure of collaborating with IIT Madras Incubation Cell to conclude the first Annual IITMIC-KRIA’tive Innovation Awards, with the theme of IP and Youth Innovating for a better future. The interactions between the industry stalwarts, were also most relevant for the young entrepreneurs, Startups and Incubatees on many nuances of Innovation, IP protection, commercialization and bridging the gaps between Corporates and University based R&D centres.”
Panelists featured included Prof. Ashok Jhunjhunwala (President, IITMRP and IITMIC), Mr. Murugavel Janakiraman (Founder CEO, Matrimony.com) and Mr. Anand Shetty (GM, Patent Group, Unilever), moderated by Mr. Bharath M.S (Founder, KRIA Law).
With the inaugural edition of the IITMIC-Kria’tive Innovation Awards underway, the IITM Incubation Cell in its 10th year now with an impressive track record of 260 deep-tech startups in its portfolio valued at over Rs 30,000 Crores, continues to bring forward more initiatives to support & benefit young, aspiring entrepreneurs at various stages of their startup journey.
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ABOUT IITM INCUBATION CELL
IITM Incubation Cell (IITMIC) has emerged as India’s leading Deep Technology Startup hub with Innovation and Impact as key differentiators/drivers. Over the last 9 years of its operations, IITMIC has overseen over 255 new incubations, founded by IITM members (faculty, staff, students, and alumni) and external entrepreneurs (50%). The companies span the breadth of deep tech areas in globally critical domains, including manufacturing, robotics, energy, e-mobility, IoT, AI/ML, space, healthcare, water, agri-tech. Today, the incubated startups are together valued at over ₹30,000 crores and have created over 6200 direct jobs.
For more information about IITM Incubation Cell visit: www.incubation.iitm.ac.in
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ABOUT IIT MADRAS RESEARCH PARK
IIT Madras Research Park is India’s first University-based Research Park and a Section 8 Not-for-Profit Company home to 75+ R&D companies, 250+ Startups and 9 Centre of Excellence. Envisioned to “Bringing unlike minds together”, the Research Park primarily focuses on pioneering Industry-Academia interaction leading to commercialization of scalable and unique technology-based solutions, several of which have found wide market reach. The Research Park holds high eminence for epitomizing an innovation paradigm ecosystem across geographical boundaries, driving the roadmap towards achieving mammoth technological goals for India through its flagship project- 10X.
For more information, visit: https://respark.iitm.ac.in/
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ABOUT KRIA LAW
KRIA Law is a full-service law firm with its core in Intellectual Property Laws, headquartered in Chennai, India focusing on providing “KRIAtive” and innovative solutions to clients through a holistic approach combining experience and expertise in various practice areas that includes intellectual property and information technology, litigation & dispute resolution, commercial, taxation, competition and anti-trust and general civil disputes. KRIA Law provides a wide range of legal, regulatory, and advisory services to its clients.
Read more about KRIA Law here: https://kria.law/
