Celebrating India's Growth Catalysts At BW SME World's 5th Emerging Business Summit & Awards

BW SME World successfully concluded its 5th Emerging Business Summit & Awards, a prestigious event that recognises and celebrates the best emerging businesses in India. This year's edition of the summit was a testament to the resilience, innovation, and transformative power of India's micro, small, and medium enterprises (MSMEs) sector.

Moreover, the sector faces numerous obstacles. Despite facing challenges like restricted access to funding and capital, subpar infrastructure, and rivalry from large corporations, the industry remains a significant contributor to employment and GDP. By tackling these difficulties and establishing a conducive atmosphere, the government can unlock the complete potential of MSMEs to drive India's economic expansion.

Nonetheless, the MSME sector is now poised to play a vital role in enhancing India's capabilities and propelling the nation closer to its goal of becoming a $5 trillion economy.

The Initiative

The BW Emerging Business Summit & Awards served as a platform to recognize and honour outstanding emerging businesses in India. Regardless of leadership gender or industry sector, all participants played a crucial role in stabilising India's financial landscape after the pandemic.

The Process

The event witnessed an overwhelming response, with numerous nominations spanning various sectors, highlighting unique and impactful companies that are driving and shaping India's economy. Over 500 SME professionals were engaged in the process, resulting in more than 100 entries. These entries were rigorously evaluated, leading to a shortlist of over 50 deserving nominees. The shortlisted candidates had the opportunity to present their achievements and contributions before a distinguished jury panel.

The Jury

The esteemed jury, chaired by Manoj Mittal, Managing Director & Chief Executive Officer of IFCI, featured renowned industry figures including Karan Ahluwalia, Executive Director & Head - Entertainment, Media, Sports and Luxury, Waterfield Advisors; Sunil Srivastav, Former Dy MD, Corporate Accounts Group, State Bank of India; Uday Sodhi, Founding Partner, Kurate Digital Consulting; Sushma Morthania, Director General, India SME Forum; Anil Khaitan, Chairman & Managing Director, Sunil Healthcare, Former President, PHDCCI; Arijit Ray, CEO & Founder, The Unlock Company; Arvind Gupta, Co-founder & Head, Digital India Foundation; Ajay Srinivasan, Former CEO, Aditya Birla Capital and Annurag Batra, Chairman & Editor-in-Chief, BW Businessworld & Founder, exchange4media, who diligently assessed the entries based on criteria such as achievements, mission, vision, implementation, and elevator pitch.

The Winners

The Emerging Business Summit & Awards showcased remarkable achievements across various categories, recognizing both companies and individuals who have made significant contributions to India's growing business landscape. Aye Finance earned the top accolade for ‘Best MSME Financing Institution,’ highlighting its crucial role in supporting the growth of micro, small, and medium-sized enterprises. In the realm of digital innovation, Imperative Business Ventures was honored as the ‘Best Digitally Enabled Enterprise,’ signifying its prowess in leveraging technology for business advancement.

Siddharth Ayare, the CEO of Search Ends, secured the Gold award for Best Product and Service by Emerging Enterprise. Jeena Criticare Logisitics, led by Anil Agarwal, Ashish Kumar, and Prakash Singh, was recognised with the Silver award, while Tapaswini Swain of CSM Technologies clinched the Bronze.

The event also highlighted innovation, with Multi Decor India, led by Pradeep Choudhary and Shiuli Choudhary, earning the Gold for ‘Most Innovative Products by Emerging Enterprise.’ New Street Tech, under the leadership of Shrish Lal, secured the Silver, and Elanpro, led by Sanjay Jain and Shashank Joshi, earned the Bronze in this category.

Social impact was another crucial dimension recognized at the awards. Ostrich Mobility Instruments, led by Venukrishnan Unnikrishnan, was honored as the ‘Best Emerging Enterprise Creating Social Impact,’ demonstrating its commitment to making a positive difference in society. Suta, co-founded by Sujata Biswas and Taniya Biswas, was awarded the Silver for their significant contributions to this cause.

Aakanksha Bhargava, the CEO of P M Relocations (PMR), received the Silver award for ‘Young Leader of the Year (Under 40) Creating Emerging Business,’ while Divij Bajaj, Founder & CEO of Power Gummies, secured the Bronze in this category. Additionally, women leaders in emerging enterprises were celebrated, including Shubhika Jain of RAS Luxury Skincare, Taniya Biswas of Suta, Mayurakshi Das of ElixirAI (La Mere), and Anita Tejwani of TheySway, each receiving recognition for their exceptional contributions.

The ‘Leader of The Year Creating Emerging Business’ award was presented to Dr. Kishore Indukuri, the Managing Director of Sids Farm, while Sudhanshu Agarwal, Director of Citykart Ventures, was honored as the "Young Leader of the Year (under 40) Creating Emerging Business.’ Sujata Biswas of Suta also earned the Gold for ‘Women Leader in Emerging Enterprise.’

Finally, Prismatic Softwares, led by Sambprasad Kuvalekar, stood out with the Gold award for ‘Most Innovative Emerging Enterprise.’ These awards collectively celebrated the remarkable achievements and contributions of emerging businesses and leaders in India.

BW SME World's 5th Emerging Business Summit & Awards highlighted the remarkable potential of India's MSME sector in driving economic growth and innovation. These businesses are not just creating wealth; they are also positively impacting society and paving the way for India's prosperous future.