Minds i
Mindsi signifies where Thought meets Action. This is when Innovation happens.
The challenge of Innovation is organized to Recognize, Reward, and Celebrate the successful commercialization of a Product / Process / Service / Platform, based on a Breakthrough Ideaor a Concept, discernibly contributing to our Growth (New Product / New Market / New Customer Segment / New Revenue) during a specific financial year.
The entire process of this contest will be governed and audited by an independent agency to protect the intellectual property rights of the participants and assure the fairness of the process of selection. Acropetal is promoting this challenge from the perspective of branding its business philosophy to "energize and drive excellence in innovation". It does not expect to capitalize on any of the IP that is gathered, generated, and evaluated during the challenge and does not expect any monetary or other benefits from the gains of the participants.
Innovation usually happens in collaboration. Furthermore, this challenge is about the Process of Innovation rather than innovation itself. Results need to be demonstrated, within an Organization, or a Value Chain, or in an Open Society (such as a new business start-up), as deemed fit. Hence, an entry is expected as a team (a minimum of 5 members but no restrictions on the number of maximum numbers). However, if an exception has to be made for an individual or a team less than 5 members, the challenge committee’s permission needs to be obtained at the time of registering for the competition. The decision of the panel will be final with respect to the discretion on the team size.
The judging criteria will be made available here with each criterion’s weightage for consideration. It is worthwhile to repeat here that this competition needs to see results with respect to growth (such as -New Products, New Markets, New Customers / Consumers / New Applications) that contributes significantly to the annual balance sheet. Therefore, entries in 2012 will reflect business performance for the financial year 2011 - 12.
Individuals, enterprises, and groups may submit more than one entry where the business innovation is unique and has demonstrably different results.
The idea behind constituting this award is to encourage, recognize, and celebrate people who are actually behind innovation- whether it is within organizations, across value chains, or in the open society. Usually one sees only the CXO's of organizations getting credit for their organizational growth and performance,to which the hierarchichally lower people in the enterprise might have strived hard to contribute to.
The winners will be felicitated in a media-supported annual global event. The selection of the winners will happen based on a pre-defined process, qualification mechanism and adjudged by an independent-industry panel, constituted by the Acropetal Management.
By the very nature of the challenge, each person or team can submit only one entry. However, should there be more entries, the qualification criteria should be borne in mind- the uniqueness of the entry should be some breakthrough innovation and contribute to the growth of Acropetal in the financial year considered.
By the very nature of the challenge, each person or team can submit only one entry. However, should there be more entries, the qualification criteria should be borne in mind- the uniqueness of the entry should be some breakthrough innovation and contribute to the growth of Acropetal in the financial year considered.
Innovation usually happens in collaboration. Furthermore, this challenge is about the Process of Innovation rather than innovation itself. Results need to be demonstrated, within an Organization, or a Value Chain, or in an Open Society (such as a new business start-up), as deemed fit. Hence, an entry is expected as a team (a minimum of 5 members but no restrictions on the number of maximum numbers). However, if an exception has to be made for an individual or a team less than 5 members, the challenge committee’s permission needs to be obtained at the time of registering for the competition. The decision of the panel will be final with respect to the discretion on the team size.
The judging criteria will be made available here with each criterion’s weightage for consideration. It is worthwhile to repeat here that this competition needs to see results with respect to growth (such as -New Products, New Markets, New Customers / Consumers / New Applications) that contributes significantly to the annual balance sheet. Therefore, entries in 2012 will reflect business performance for the financial year 2011 - 12.
- In the case of entries that are from within a company, the entries must be endorsed by the CEO or the CFO of the company along with the annual returns statement highlighting the growth contribution.
- Entries from individuals representing a start-up must be endorsed by their auditors along with the annual returns statement.
- Entries from individuals or smaller teams for whom an exception in the rules has been made, would also need to show either of the above endorsements and annual returns depending on whether they made an impact in the business as a professional or an entrepreneur.
Individuals, enterprises, and groups may submit more than one entry where the business innovation is unique and has demonstrably different results.
The qualification is a three-stage process:
- First stage is the initial screening, after which the shortlisted entries will be announced.
- The shortlisted teams and individuals will be expected to make a presentation virtually (teleconference or skype) to the panel. At this point in time, it is envisaged that 15 entries will be shortlisted. However, that number is not absolute and may increase or decrease depending on the quality of the entries.
- Based on the screening on the second stage, the final five entries will be selected. The innovators behind these entries will need to attend a week- long session for the final rounds in a chosen offsite destination. All the cost of travel and other logistics will be footed by Acropetal.
- The three teams that triumph in the last leg of the challenge will be honored in a media-facilitated grand annual ceremony, attended by distinguished customers, other industry CXO's, and other eminent people from society..
