Innovation award named after sachet revolution pioneer invites entries from Indian entrepreneurs

CHENNAI: The tide of startups and entrepreneurship in India has certainly added to ranking the country as the fifth largest economy in the world today. India's entrepreneurship startup ecosystem has mushroomed drastically since 2016, ranking India as the third largest startup ecosystem after the US and China.

At CavinKare, which is a diversified FMCG major, they understand the immense potential of small businesses which have transformed into being the backbone of our economy and drivers of local innovation. In association with the Madras Management Association (MMA), the FMCG brand has now opened nominations for the 13th Edition of the ChinniKrishnan Innovation Awards 2024.

“The ChinniKrishnan Innovation Awards is a nationally recognised annual awards instituted in memory of my father, late R ChinniKrishnan, who is fondly known as the ‘father of the sachet revolution’. It was established to recognise and celebrate the outstanding entrepreneurs across the country, honouring the uniqueness, scalability, sustainability, and societal benefits of their innovations,” explains CK Ranganathan, Chairman and Managing Director, CavinKare.

Companies with an annual turnover of not more than Rs 50 crores in FY 2022-23 can apply for the awards. Beyond recognising these entrepreneurs with awards and rewards, CavinKare also provides comprehensive support in areas such as marketing, finance, design, packaging, patent application, R&D, and human resources.

The ChinniKrishnan Innovation Awards were instituted back in 2011, and since then, the brand has witnessed a remarkable evolution in the entrepreneurial landscape.

Ranganathan says. “In the early years, our focus was primarily on recognising established small and medium businesses (SMBs). However, over time, there has been a significant surge in innovative startups, reflecting a broader national trend.”

The ChinniKrishnan Innovation Award has celebrated the entrepreneurial spirit by honouring over 50 entrepreneurs across various categories from different parts of the country, which underscores the dynamic and ever-growing entrepreneurial landscape in India.

“A notable indicator of this growth is the significant increase in the number of nominations we receive each year. We are now witnessing more than 200 entrepreneurs nominating themselves for the awards annually, showcasing not only the increasing number of startups and entrepreneurs in the country but also the growing credibility and recognition of the award property itself,” he adds.

Ranganathan believes that entrepreneurship embodies a relentless spirit, an unwavering commitment to innovation, and a steadfast dedication to integrity.

“It is about embracing resilience in the face of adversity, learning from setbacks to emerge stronger and more determined. Another key quality of an entrepreneur is exceptional leadership. Entrepreneurs today need to guide teams with vision, clarity and inspiration towards ambitious goals,” says Ranganathan.

Above all, he also opines that entrepreneurship is a commitment to creating value—solving problems, meeting needs, and enriching lives. “In my journey as an entrepreneur, these qualities converge to define not just a business venture, but a transformative path that inspires and empowers others to dream, innovate, and achieve,” he says.

The entrepreneurial spirit in Tamil Nadu is nothing short of inspiring, representing a dynamic blend of tradition and cutting-edge innovation. This heritage of calculated risk-taking and building businesses from the ground up is deeply woven into the fabric of the local culture.

Ranganathan explains, “What stands out in Tamil Nadu is the remarkable quality of its entrepreneurs. Moreover, the startup ecosystem here is experiencing a significant influx of participation from women entrepreneurs, driven by their growing financial independence. Entrepreneurs in Tamil Nadu possess a keen sense of value creation, meticulously understanding their customers' needs, and often prioritising affordability and accessibility.”

Moreover, these entrepreneurs in the state also exhibit a profound resourcefulness, a trait refined through generations of navigating competitive markets.

“This resourcefulness not only translates into innovative solutions but also emphasises operational efficiency. The ability to maximise available resources distinguishes Tamil Nadu’s entrepreneurs, making their contributions vital in addressing contemporary challenges,” he adds.

According to Ranganathan, successful entrepreneurs are a combination of inherent traits and cultivated skills.

“The ChinniKrishnan Innovation Awards showcase this beautifully. We see young individuals with exciting ideas alongside seasoned entrepreneurs who have honed their craft over the years. Both possess the spark of entrepreneurial spirit but at different stages of development. I believe that if one is passionate about a problem or opportunity, resources are available to help turn the idea into reality,” he says.

When asked about an entrepreneur's journey that he admires, Ranganathan says, “I admire Elon Musk as a radical thinker.”

Winners of the ChinniKrishnan Innovation Awards will be awarded a cash prize of Rs 1 lakh. The last date to submit nomination entries is July 8.

The nominees can apply for the awards at https://ckinnovationawards.in or by giving a missed call to +91 97899 60398.