Power2SME, TiE Delhi-NCR announce winners Spirit of Manufacturing Awards 2021

Power2SME in collaboration with TiE Delhi-NCR concluded the first-ever online award ceremony of the Spirit of Manufacturing Awards today, on the side-lines of Resurgence TiECon Delhi-NCR. This year marks the seventh season of the awards.

Initiated in 2014, The Spirit of Manufacturing Awards are aligned with the Indian government's call to "Make In India" and seek to applaud innovations in the manufacturing industry and encourage young innovators in the manufacturing space to hone their skills with the right resources under the right leadership so they can be positioned on a fast growth trajectory.

With Pre-screening of all online applications for each category, followed by the assessment of selected applications, the final list of top 15 contestants was generated. The selection of the final winners was announced on the basis of their presentation in front of a team of Jury members, comprising business experts and industry veterans, on January 20th, 2021 and scores amalgamated from the previous rounds.

The jury evaluated each presentation on the basis of the Execution Strategy, Competitive Advantage, Management Depth, Sales & Marketing Strategy and the Financial Viability. Towards the end of the presentations, the scores were tabulated to announce the winners from each category.

"This year served as a huge setback for business not only across India but across the world. Manufacturing being among the worst hit, India's startups have shown resilience. Given the scenario, we scouted for talent which was offering solutions relevant to the current times. We're glad to have been able to showcase their innovative offerings and solutions.

The seventh season of the Spirit of Manufacturing Awards continues to applaud the entrepreneurial spirit of India. From robotics and automation to solving crucial social issues like waste management/water management, India's startups are building business models for society as a whole," said R Narayan, Founder and CEO, Power2SME.

Geetika Dayal, Executive Director, TiE Delhi NCR expressed that "Every year we witness the bar of quality of manufacturing startups going up. It's heartening to see startups #MakeinIndia and Make a difference through their products across the sector. The Spirit of Manufacturing Awards was set up to put a spotlight on the innovative entrepreneurship of these ventures. We are glad to discover and hone young businesses in India and our continued partnership with Power2SME. The platform, has evolved over the years, and a new partner Western Digital joins us this year - making the initiative stronger and a force to reckon with."

The winners were awarded across five categories based on the innovative skills and the tangible impact showcased. The categories included Social Impact, Young Entrepreneur, IT Adoption & Innovation, Woman Entrepreneur of the Year and Special Jury Award.

The first 'Buying Club' for SMEs in India, Power2SME, financially backed by Nandan Nilek, Inventus Capital Partners, Kalaari Capital, the International Finance Corporation (IFC) and Accel Partners, began operations in 2012. Committed to empowering SMEs by increasing their profits, Power2SME focuses on reducing purchase prices for SMEs and enhancing productivity.

Power2SME enables SME clients to focus on their core business of driving growth and expansion, while taking on the role of sourcing input raw materials at the most competitive price points across multiple products in categories such as Chemicals, Additives, Inks, Paints, Metals, Polymer Commodity, Polymer Engineering, etc. The company, today, has eight offices spread across Chennai, Kolkata, Ahmedabad, Gurgaon, Bangalore, Pune, amongst others, with a team of 200+ employees across India.

Power2SME works with established and trusted suppliers such as SAIL, TATA Steel, ESSAR Steel, Allied Strips, JSW, Rathi Steel, Victor Exim, Balaji Enterprise, POSCO Steel, Apollo Pipes, JSL, and many more.

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( With inputs from ANI )