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Industrialist Anand Mahindra is throwing a million-dollar challenge to solve two of India's most pervasive and intractable problems—traffic stress and electricity shortages. The chairman of the automobile-to-aerospace Mahindra Group is calling for competitive pitch to develop a driverless car and a do-it-yourself solar power kit from desi innovators.
In This Pic : Anand Mahindra
Pic Courtesy : BCCL
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This is part of Mahindra's first edition of the $1 million 'Rise Prize'—being unveiled on National Science Day later this week—to spur breakthrough Indian innovation which captures the mainstream imagination.
In This Pic : Anand Mahindra
Pic Courtesy : BCCL
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The boss of the $16 billion Mahindra Group hopes the new recognition—at Rs 6.2 crore, it's one of the heftiest awards in terms of prize money—would foster scientific thought that is aspirational and has potential to change everyday Indian life.
In This Pic : Anand Mahindra
Pic Courtesy : BCCL
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"We have to set our own benchmark or metrics to value innovations which impact a part of our lives. Our best minds are used to looking for recognition outside India. The objective is to trigger disruptive innovation in the country," Mahindra told TOI.
In This Pic : Anand Mahindra
Pic Courtesy : BCCL
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The inaugural Rise Prize will see Mahindra posing two challenges—a $700,000 one aimed at building a driverless car for the congested domestic roads, and a $300,000 challenge to develop a solar DIY kit for household energy needs.
In This Pic : Anand Mahindra
Pic Courtesy : BCCL
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