Samsung and CNBC-TV18 are back with the ‘Samsung Innovation Quotient’ – Season 2

Jun 06, 2012

~ A nationwide hunt to recognise India’s finest Innovators ~

Mumbai, June 06, 2012: After the huge success of the first season, Samsung and CNBC-TV18 are back with Season 2 of ‘Samsung Innovative Quotient’. This is a platform that recognises innovators from across the nation who have created an indigenous product or solution that fulfills a mass need in a unique and scalable way.

Samsung Innovative Quotient is based on the concept of "Innovation for Development" -unique innovations that will benefit society at large and pave the way for development through a comprehensive approach. Thus the aim of ‘Samsung Innovative Quotient’- 2, is to hunt and give recognition to innovators who are selflessly working towards the betterment and development of society.

A common myth that ‘Samsung Innovative Quotient’ – 2 hopes to change is that Social Ventures cannot be profitable. ‘Samsung Innovative Quotient’ – 2 believes that since an innovation will benefit society at large, and the innovator has spent time, effort and money on the same, it is important that society gives due recognition to the innovator. The other important aspect of ‘Samsung Innovative Quotient’- 2 is the ‘Design Audit’, in which a design firm will help the finalists design their products to be presentable and essentially, more marketable.

‘Samsung Innovative Quotient’- 2 will not only search for such an innovation, but also help the finalists in nurturing their product and making it ready for the market while trying to get them funding as well. Bringing together entrepreneurs, innovators and experts will ensure that this is a platform for great innovations that are also self supporting at the same time.

The nominations process began on 1st June 2012. To register log on to http://www.siq.moneycontrol.com/index.php

Speaking on the launch of the initiative, Suresh Venkat, Editor - Technology & Spl. Projects, CNBC TV18 said “With the overwhelming response received during the first season, from innovators across the country, we were compelled to launch season 2 on a bigger, better and larger scale. Thus ‘Samsung Innovative Quotient – 2’ is conceptualised with the thought “Innovation for Development” that will not only benefit society at large but also prove to be profitable for the individual. We are proud to have created this platform for individuals who have braved the times, set new benchmarks and brought a lot of credence to their business and society.

Stated Mr. B D Park, President & CEO, South West Asia HQ, Samsung Electronics, “Samsung as a brand thrives on innovation. We also believe that the spirit of innovation can be channelised to lead to the development of community, which is the essence of Samsung’s Corporate Social Responsibility programs. With the Samsung Innovation Quotient, we are creating a platform that recognises the best of innovations that make a difference in the lives of the Indian community.”

The innovations submitted for the ‘Samsung Innovation Quotient’ will be evaluated on criteria like Originality of idea ,Feasibility of the business model given the market opportunity and the venture ,Scalability, potential for growth or replication of the venture as well as Reach, depth and quality of social impact amongst others.

The partners associated with this initiative are Knowledge and Process Partners - Intellecap, Social Innovation Partner – Ashoka Organisation, Print Partner - Entrepreneur, Mall Partner - High Street Phoenix, Bang Design - Design Partner, Café Partner- Barista Lavazza, Radio Partner - 104.8 FM sabse Filmi.

About Samsung Electronics Co., Ltd.
Samsung Electronics Co., Ltd. is a global leader in semiconductor, telecommunication, digital media and digital convergence technologies with 2011 consolidated sales of US$143.1 billion. Employing approximately 206,000 people in 197 offices across 72 countries, the company operates two separate organisations to coordinate its nine independent business units: Digital Media & Communications, comprising Visual Display, Mobile Communications, Telecommunication Systems, Digital Appliances, IT Solutions, and Digital Imaging; and Device Solutions, consisting of Memory, System LSI and LED. Recognised for its industry-leading performance across a range of economic, environmental and social criteria, Samsung Electronics was named the world’s most sustainable technology company in the 2011 Dow Jones Sustainability Index. For more information, please visit www.samsung.com