The winners of the annual Big Idea competitions hosted by V-Guard Industries Ltd were announced on Saturday, November 20, 2021. This year’s Big Idea Business Plan and Big Idea Tech design competition finals were held on November 18, 19 and 20 2021 and saw over 300 applications from top business and engineering schools across the country. Indian Institute Of Management, Nagpur won first prize and first place in business plan competition and SVKMS NMIMS, Mukesh Patel School Of Technology Management & Engineering, Mumbai declared first and second finalists respectively out of a total of 22 teams pre-selected for the grand final. The Delhi International Institute of Management and the Indian Institute of Management, Sambalpur were qualified for the Special Jury Prize.
Muthoot Institute of Technology, Vaikoli won first prize in the Big Idea Tech design competition. St Joseph College of Engineering and Technology, Palai and Christ College of Engineering, Irinjalakuda were declared first and second finalists.
The themes of this year’s competition were “The business models of tomorrow that will bridge the digital-physical divide to usher in a better future” for the B-Plan competition and “How V-Guard can enable better quality of living with thoughtful and intelligent products that bring home a brighter future “for the engineering design competition. This was intended to enable participants to present insightful and innovative ideas for the growth of the company in alignment with the business strategy of V-Guard. The winners of the business plan competition received cash prizes worth Rs. 2,00,000, Rs. 1,000,000, Rs. 50,000 for the top three positions respectively with trophies and certificates of appreciation. The winners of Big Idea Tech received a cash prize worth 100,000 Rs. 50,000, Rs. 25,000 for the top three positions respectively. Two teams qualified in. ur the special jury of the business plan competition and received a prize worth 25,000 rupees. The shortlisted teams presented their ideas and competition plans at an organized virtual event.
The four-member jury committee that chose the Plan B winners was chaired by Mr. Rajesh Nair, Business Manager, EY LLP, Kochi, as well as V. Ramachandran, Director and COO, V- Guard, Sudarshan Kasturi, Senior Vice President and Chief Financial Officer. , V-Guard and Mr. Narender Singh Negi, Vice President – R&D (Electronics). The ideas presented by the participants were judged on parameters such as ingenuity, practicality of application, feasibility, simplicity and the positive impact that this can have on the activities of V-Guard and its consumers. Mr. Kochhouseph Chittilappilly, Chairman Emeritus, and Mr. Mithun Chittilappilly, Managing Director of V-Guard Industries Ltd. honored the farewell ceremony and rewarded the winners.
The jury that judged the technical design competition includes Mr. Narender Singh Negi, Vice President – R&D (Electronics), Mr. Prasad Sudhakar Teni, Senior General Manager – Home Appliances and Mr. James M Varghese, General Manager – R&D ( industrial design).
The event created a platform for interaction with key V-Guard executives, where young minds can discuss and understand business challenges to refine their thinking process and foster a spirit of innovation within them.
Shares of V-Guard Industries Limited were last trading on BSE at Rs. 236.90 from the previous close of Rs. 249.80. The total number of shares traded during the day was 55,784 in more than 3,601 trades.
The action hit an intraday high of Rs. 249.80 and an intraday low of 233.90. The net turnover during the day was Rs. 13,423,757.00.