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Last updated: 20 Oct, 2015  

Power2SME and TiE Announce Winners of '˜Spirit of Mfg Awards'

NewsVoir | 19 Oct, 2015
Power2SME in collaboration with TiE Delhi NCR concluded season 2 of the Spirit of Manufacturing Awards today at Taj Palace, New Delhi. Mr. Pramod Bhasin, CEO, Genpact as Chief Guest, inaugurated the ceremony and shared his valuable insights on role of manufacturing SMEs in contributing towards India’s growth story.


The Spirit of Manufacturing platform is dedicated to the entrepreneurs in the manufacturing industry and is designed to re-iterate the importance of the manufacturing sector and the need of innovation in this space.


Speaking on the occasion, Mr. Pramod Bhasin said, “At the time when noise of Make in India campaign is gripping the nation and manufacturing SMEs are emerging as powerhouse, it is imperative to recognize heroes of the industry. I am glad to be a part of the Spirit of Manufacturing Awards and to have witnessed inspiring stories of some young manufacturing businesses.”


Mr. R Narayan, Founder and CEO, Power2SME elaborated that “The SMEs in India have huge potential to bring the next leg of growth and need of the hour is to acknowledge them, make them bankable. The Spirit of Manufacturing Awards is a platform created to achieve this aim and the second season witnessed some of the motivating journeys among manufacturing SMEs.” He further added that “We are glad to have partnered with TiE Delhi NCR for the awards and their efforts make this platform more valuable for the industry. We at Power2SME are committed to empower SMEs and make them bankable.”

This annual award series is aimed at encouraging innovation and entrepreneurship in the country and aspires to provide the necessary visibility, ecosystem and mentorship for new SME start-ups to scale their operations in their respective sectors. The award ceremony received support from Dalmia Bharat Group as Sponsor and Intellecap as Partner.



1. YOUNG ENTREPRENEUR OF THE YEAR: Sourabh Bansal, Founder and MD, Magicrete


2. IT ADOPTION AND INNOVATION: Ayush Sinhal, Director, Crystal Power


3. INTERNATIONAL BUSINESS LEADER: Dr. Sandip Patil, Founder, E-Spin Nanotech


4. SOCIAL IMPACT: Sumita Ghose, Founder & MD, Rangsutra


5. WOMAN ENTREPRENEUR OF THE YEAR: Pragati Sawhney, Founder, Chockriti


6. SPECIAL JURY AWARD: Mausami, Ambastha, Founder Director, Thread Sol

Jury Members


1. Mr. Ajay Chowdhry, Chairman IIT Patna, Co-founder, HCL


2. Mr. Sunil Bhalla, Co-founder & Director, Lava Mobiles


3. Mr. Priyank Narayan, Director of Entrepreneurship, Ashoka University


4. Ms. Sudha Sarin, VP – Marketing & Communications, Power2SME


Ms. Geetika Dayal, Executive Director, TiE Delhi-NCR concluded by saying, “TiE has always been committed to empowering entrepreneurs and applauding innovation, across industries. As India Inc is warming up to the idea of Make in India, the Spirit of Manufacturing awards is an initiative that celebrates the innovation among manufacturing startups. We, at TiE, are undertaking initiatives to work towards and motivate this niche industry.”


The season 2 of the Spirit of Manufacturing Awards received total of 200 nominations for 5 categories, which were reviewed by esteemed jury members. The selection and short listing was based on the innovative skills and their tangible impact in the way business is conducted. While the applications were invited for 5 categories but post reviewing the enthralling business presentations during Jury Round, the jury members decided to create 6th category of ‘Special Jury Award’. Facts and proofs in support with the business idea were compulsory. The expert panel reviewed the business structure, its success; the innovation and its retrospective impact on the business, amongst other critical parameters before short listing the companies.


About Power2SME

The first ‘Buying Club’ for SMEs in India, Power2SME, an Inventus Capital Partners, Kalaari Capital and Accel Partners funded company began operations in 2012. Committed to empowering SMEs by increasing their profits, Power2SME focuses on reducing purchase prices for SMEs and enhancing productivity. Power2SME enables SME clients to focus on their core business of driving growth and expansion, while taking on the role of sourcing input raw materials at the most competitive price points across multiple products in categories such as Chemicals, Additives, Inks, Paints, Metals, Polymer Commodity, Polymer Engineering, etc.


Power2SME works with large, established and trusted suppliers so clients are assured about product quality. The present suppliers include companies such as SAIL, IOCL, GAIL, AkzoNobel, Haldia, etc.


About TiE

TiE is recognized as the global organization fostering entrepreneurship through mentoring, networking and education. The purpose of TiE is to encourage and nurture the next generation of entrepreneurs and add to the virtuous cycle of wealth creation spurring development and economic growth in vibrant yet under-developed regions. The Indus Entrepreneurs (TiE) was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently 15,000 members, including over 2,500 charter members in 62 chapters across 18 countries. Delhi Chapter is among the largest and most vibrant across the vast TiE network. In the last 10 years, it has emerged as the forum of choice for startups, serial entrepreneurs, VC and angel investors, policy makers and academia. At the heart of the entrepreneurial ecosystem, TiE Delhi plays the role of an ecosystem builder by bringing in multiple stakeholders and values to align with the common goal to foster entrepreneurship.

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