Ratan Tata Brings XPRIZE to India

XPRIZE India

XPRIZE, a global leader in incentivized prize competitions, announced a formal expansion into India last week at an event in Mumbai attended by some of India’s most influential business leaders including Mr. Ratan Tata among others.

XPRIZE announced plans to launch multiple prizes in India over the next few years in the areas of water, energy, waste management, and food & nutrition, with an anticipated first prize addressing water sustainability, to launch in 2015 with the support of Coca-Cola India.

Guests at the event participated in an XPRIZE “Visioneering” process, where corporate leaders, philanthropists, heads of innovation and XPRIZE Trustees worked together in a unique series of brainstorming sessions to identify which of India’s Grand Challenges can best be solved through incentivized prize competitions.

Ratan Tata, chairman emeritus, Tata Sons and trustee at XPRIZE, along with Naveen Jain, founder & CEO of Inome, and Paresh Ghelani, chairman, BPG Motors, have been active in bringing XPRIZE to India. Mr. Tata said, “We are bringing XPRIZE to India with the belief that the next big innovations to solve some of the world’s Grand Challenges will come from India, directly impacting millions of people at the base of the pyramid. Through XPRIZE, we want to tap into this promise of potential and possibility.”

“We chose India as the first geographic location outside of the U.S. to launch our global development prizes because we believe India has technological and entrepreneurial capacities like no other country in the world,” said Zenia Tata, program director, global expansion, XPRIZE. “India is also going to provide XPRIZE the platform to meet scale and we are very excited about our global expansion and the impact we believe we are going to create.”

Venkatesh Kini, president of Coca-Cola India and South West Asia, said, “We are excited about this partnership and through it we hope to bring forth innovative solutions to the pressing issue of water sustainability to positively impact millions of lives in India and across the globe.”

XPRIZE board of Trustees also includes Elon Musk, Larry Page, James Cameron, Arianna Huffington, Ali Velshi, Wendy Schmidt, and Anousheh Ansari. Deloitte is the knowledge partner for XPRIZE in India. For more information, visit http://www.xprize.org/about/xprize-in-india

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This post was prepared by Solar Thermal Magazine staff.