GIBSS wins the ‘Innovation for India Awards 2016’, by Marico Innovation Foundation (MIF) . - March-2016

GIBSS wins the ‘Innovation for India Awards 2016, held by the Marico Innovation Foundation (MIF) under the business category. The awards were governed by a rigorous evaluation process of Ernst & Young and a distinguished Jury chaired by Dr. R A Mashelkar, Honorary Chairman of the Governing Council, MIF. The function was presided by the Chief Guest, Mr. Amitabh Kant, Secretary, Department of Industrial Policy and Promotion (DIPP) – Government of India.

This year’s winners culled from 202 nominations (in the business category), were narrowed down by the distinguished jury in two rounds and arrived at ‘India’s Best Innovations’ on the basis of Uniqueness of the concept, Impact, Potential to scale and Practicality of the Innovation.

Award winners in the earlier editions have been Indigo Airlines, Tata Power, Reliance Industries, Tata Chemicals, Zydex and Redbus among others.

The Jury was impressed by the savings and the scale of opportunity that geo-thermal technology possesses. The Jury appreciated that the technology is not restricted to certain parts of the country and can be implemented across all subtropical climate countries. The awards were presented by Mr. Ashwin Dani, Non-Executive Vice Chairman, Asian Paints.

Mr. Arun Shenoy, Co-Founder and Executive Director-Business Operations said, “It’s a great honour and privilege to receive the award from the Marico Innovation Foundation. It’s great to contribute to a culture of building scalable and sustainable social innovations. The geothermal innovation has the potential to reduce India’s electricity demand by 35% and India’s industrial water demand by 30% and greenhouse gas emissions reduction equivalent to planting half a billion trees”.

Mandar Kaprekar, Co-Founder and Executive Director - Technology & Projects, said “Our geothermal innovation offers up to 60% energy saving and 100% water saving with payback in the range of 2 years. Our effort over the last 6 years has been to build innovations that create economic, environmental and social impact to help realize our vision of making every single building in India, a sustainable energy plus building’’.