Vaibhav Global Limited successful conclusion of 1st 'Hackademic' event: An innovation initiative by VGL for engineering students

Vaibhav Global Limited, in collaboration with Manipal University (Jaipur), Atal Incubation Centre (AIC), and Niti Aayog, conducted an innovation series- 'Hackademic'- a platform for talented engineering students across India to showcase their innovative product ideas. The event started in May 2022 and proceeded through different qualifying stages. The response was commendable and encouraging.

This initiative has provided students with an opportunity to experience a complete product development lifecycle from ideation to commercialization. This is our first step towards building an 'industry-academic collaboration' and encouraging young innovators across the country.

We received 155 entries from 48 universities all over India, including IITs, and NITs. Post clearing the 'Prototype Development' and 'Prototype Implementation' stages, we shortlisted top 5 finalists as follows. The best-adjudged ideas were rewarded with cash prizes and gift hampers.

"The end goal of this tech event is to bring together innovative aspirants from many backgrounds to create a commercially viable solution. The budding innovators who participated in this event were extremely driven to achieve their visions. The results were impressive and provided an excellent example of what is possible when the young minds were trying to solve a challenge. In conclusion, as we wrap up our 'Hackademic' we will be back again the next year keeping up with the same momentum to empower budding innovators," says Kulathendral, Chief Innovation Officer, Vaibhav Global Limited.

A Glimpse of today's event:

Vaibhav Global Limited (VGL) is listed on stock exchanges in India (BSE: 532156, NSE: VAIBHAVGBL, ISIN - INE884A01027). VGL is an omni-channel E-tailer of fashion jewellery, accessories, and lifestyle products in developed markets with direct access to ~127 million households (FTE) through its TV home shopping networks - Shop LC in US, Shop TJC in UK and Shop LC in Germany. The Company's ecommerce websites in the US, in the UK and in Germany, complement TV coverage and diversify customer engagement. Our SEZ Unit in Jaipur is LEED Platinum Certified which reassures our commitment of employing sustainable business practices. We are also a 'Great Place To Work®' certified organization across India, US, UK, and Greater China. Our 2 manufacturing units of India and 2 US' facilities are operating on renewable energy sources. The Company is committed to 'Delivering Joy' to all the stakeholders. Through its flagship One for One Program now "Your Purchase Feeds..." where a meal is provided for every piece sold at the retail channels, the Company has provided over 69 million meals in US, UK and India since program's inception with a current run rate of ~50k meals being donated every single school day.

Safe Harbor

Certain statements in this document may be forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local political or economic developments, technological risks, and many other factors that could cause our actual results to differ materially from those contemplated by the relevant forward-looking statements. Vaibhav Global Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.

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( With inputs from ANI )