~ TomorrowLAB aims to promote entrepreneurial DNA amongst students and provide support in generating breakthrough innovation ideas ~
~ ‘Steel the Show’ team from IIM Shillong declared winner of the B-Plan Contest ~
~ ‘KHEL’ team from NID, Madhya Pradesh declared winner of the Design contest ~
Mumbai, April 6, 2023: Tata Steel announced the winners of its first-ever TomorrowLAB competition for B-school, design school, and engineering school students. The competition aims to proliferate entrepreneurial DNA for the future of India and provide support in generating breakthrough consumer-led innovation ideas.
The competition had two tracks: the B-plan contest and the Design contest. The B-plan contest had three broad themes: innovation for smarter living, innovation for the bottom of the pyramid, and innovation for a better way of life with some focus areas such as: Waste to Wealth, Last Mile Solutions, Sustainable Packaging, Smart City Solutions etc. This competition is driven by the Innovent department of the Company which works towards fostering a culture of innovation across the organisation. Under this department, the business concepts are developed after thorough market research and successful pilots are subsequently taken up for scale.
‘Steel the Show’ team from IIM Shillong emerged as the winner of the B-Plan contest while ‘KHEL’ team from NID, Madhya Pradesh bagged the top slot in the Design contest.
Dr. Debashish Bhattacharjee, Vice President, Technology & New Materials Business, Tata Steel, said: “TomorrowLAB is a unique opportunity for students to innovate, build their entrepreneurship skills and gain valuable experience. We believe this platform will help us identify and nurture the next generation of talent to create solutions of tomorrow. Congratulations to the winners as well as the participants who presented some truly innovative ideas that will help shape the future of India.”
Chanakya Chaudhary, Vice President, Corporate Services, Tata Steel, said: “We are thrilled with the overwhelming response and innovative ideas showcased by the participants in TomorrowLAB. This competition reflects our commitment to fostering a culture of innovation and entrepreneurship, and we are confident that these young minds will continue to drive India’s growth story. Congratulations to all the winners and participants for their outstanding efforts.”
This edition of TomorrowLAB saw a total of 4,095 team registrations and the participation of 12,280 students. The B-plan contest had three rounds and out of all the submissions received, 21 teams were shortlisted and mentored by Tata Steel Innovent team members. Six ideas were selected for the national grand finale, and the top two ideas received cash awards of Rs 1 lakh and Rs 50,000, respectively, along with certificates and mementos. The Design contest had two rounds, and the top four ideas were presented to the jury. The top two ideas received cash awards of Rs 50,000 and Rs 25,000, respectively, along with certificates and mementos. All top 25 teams received certificates and mementos from Tata Steel.
The competition underlines Tata Steel’s thrust on innovation and entrepreneurial DNA to meet future Indian market demands and strengthens the Company’s overall positioning and idea pipeline. It has also opened up new avenues for innovation.