Innovation That Creates Impact: Harsh Mariwala’s Vision for Marico Innovation Foundation
Harsh Mariwala’s Mission: Making Innovation Matter
For twenty years, the Marico Innovation Foundation (MIF) has been at the forefront of identifying and fostering innovative ideas in India. Founded by Harsh Mariwala, chairman of Marico Limited, the foundation has witnessed an exponential increase in applicants, growing from 700 applications in previous years to 1,200 in 2025. This surge underscores the increasing relevance of technology-driven innovations and the need for business mentorship in the Indian startup ecosystem.
Mariwala believes that true innovation must create an impact—a philosophy that has guided MIF’s initiatives. Speaking about the foundation’s work, he stated, “We are trying different ways to create impact. Ultimately, the whole objective is to create impact—innovation has to have an impact.”
The India Innovation Icon Awards, hosted biennially, recognize startups and established businesses that are driving change in the business and social sectors.
Marico Innovation Foundation: Harsh Mariwala’s Vision for Transforming Business Innovation
Technology as the Game Changer in Innovation
AI and Deep-Tech Startups Are Gaining Momentum: According to Mariwala, this year’s applications show a significant rise in deep tech startups, with artificial intelligence (AI) emerging as a game changer in various industries. The shift toward AI-driven solutions highlights the growing influence of cutting-edge technologies in business and social innovation.
From FMCG to Deep Tech: Over the years, MIF has expanded its reach from recognizing corporate giants like Tata Motors and IndiGo to supporting early-stage startups solving real-world challenges.
Previous Corporate Winners Include: 
Tata Motors – Awarded for launching the micro-truck Tata Ace. InterGlobe Aviation (IndiGo) – Recognized for innovative Z ladders, making passenger boarding more efficient.
2025 India Innovation Icon Award Winners
Business Category Winners:
Astrome Technologies: Advancing wireless telecom services in rural and remote areas. Chara Technologies: Developing rare-earth magnet-free electric motors for EVs and industrial applications. Indra Water: Providing a decentralized water treatment system for recycling sewage and industrial wastewater. Skyroot Aerospace: Enabling cost-effective, on-demand access to space for satellite operators.
Social Impact Category Winners:
AssisTech Foundation: Supporting disability technology startups. Rocket Learning: Enhancing early childhood education by upskilling Anganwadi workers. People’s Archive of Rural India (PARI): Documenting India’s rural stories in a digital archive.
These innovators are solving real-world challenges in sustainability, healthcare, education, and space technology.
Beyond Awards: A Catalyst for Growth
Mariwala envisions the Marico Innovation Foundation as a long-term accelerator that doesn’t take equity but instead provides mentorship, strategic guidance, and funding connections. This support system helps startups scale and sustain their businesses.
Key Benefits for Winning Startups: Mentorship from 30+ industry CEOs Strategic guidance on scaling businesses Networking opportunities with potential investors Access to market insights and coaching
Why Business Mentorship is Crucial? Mariwala believes that mentorship is often more valuable than funding. “Startups benefit more from getting advice on image building, coaching, and mentoring rather than just financial support.”
Scaling Startups: Lessons from Industry Experts
Case Study: Scaling a Startup the Right Way A startup working on solar-powered freeze-drying technology for fruits and vegetables initially planned to launch a consumer brand. However, Mariwala advised them to pivot toward the Horeca (Hotel, Restaurant, and Café) industry, which allowed them to establish a B2B revenue model before launching a brand. Today, that startup generates over ₹100 crore in revenue.
The Reality of Building a Consumer Brand According to Mariwala, launching an FMCG brand requires ₹1,000 crore in revenue, or at least ₹25 crore for marketing and branding expenses. This financial reality makes B2B business models more practical for early-stage startups.
Expanding the Accelerator Program
2025 Accelerator Cohort: MIF has selected 15 promising startups for its accelerator program, including Ishitva Robotics, a high-speed plastic waste recycling startup.
Ishitva Robotics: Developing automated waste sorting machines that can classify plastic waste by polymer, brand, and color at a rate of 6 tonnes/hour. Nationwide Waste Recycling Pilot Projects: The foundation has initiated waste recycling programs in Hyderabad and Raipur, testing household plastic waste recycling solutions. Future Expansion Plans: If successful, corporate partnerships will help scale this initiative across India.
Conclusion: Driving India’s Innovation Future
Harsh Mariwala’s vision for Marico Innovation Foundation is clear: Innovation should create impact. By nurturing deep tech startups, supporting social enterprises, and offering mentorship without taking equity, MIF is fostering an ecosystem of sustainable innovation in India.
What’s Next?
Expanding the accelerator program to support more high-impact startups. Strengthening corporate partnerships to scale waste recycling and sustainability initiatives. Enhancing mentorship programs to help startups navigate funding and scaling challenges.
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