Chennai | Schaeffler India, a leading motion technology company in partnership with ‘Buddy4Study Foundation’ has announced the winners of its 2024 edition of the ‘Schaeffler India Social Innovator Fellowship Program’. The initiative aims to recognise and reward social entrepreneurs developing unique sustainable solutions that have the potential to positively impact and benefit society at large. It is also part of Schaeffler India’s flagship Corporate Social Responsibility (CSR) initiative HOPE, reinforcing its commitment to Healthcare, Occupational skill development, Preservation of Heritage & Environment and Empowerment of society.
Marking its third edition, this year’s fellowship program invited applicants between the ages of 18 – 35 across different institutions including IITs, IIMs, NITs, non-profit organizations, and early-stage startups, to pitch their ideas and prototype solution across six key categories. These include Environmental Sustainability, Renewable Energy, Carbon Neutrality, Circular Economy, Natural Resource Management, and Application of Technology in the Social Sector.
Eligible participants included individuals or groups who undergo a rigorous screening process, which encompasses stringent evaluations and multiple rounds of live video prototype demonstrations.
The top 10 exceptional projects were awarded a fellowship grant of Rs. 1.5 lakh, each. Additionally, winners were conferred with a 24-week hybrid mentorship at IIMA Ventures formerly (IIMA-CIIE), a startup incubator founded by the Indian Institute of Management, Ahmedabad. Winners also gain the opportunity to connect and benefit from Schaeffler India’s network of industry partners, and fellow innovators in the program.
Since its enrolment opened in July 2024, the program has received over 276 registrations from over 25 states, including the Northeast, West Bengal, Jammu & Kashmir, and more, with 78 shortlisted applicants for assessment.
Harsha Kadam, MD and CEO of Schaeffler India emphasized the company’s focus on motion technology as a driver for positive change and stated, “At Schaeffler India, we are dedicated to advancing motion to foster a sustainable, efficient, and resilient world. The remarkable response to this year’s Social Innovator Fellowship Program highlights the potential of India’s youth to be agents of transformative change. Sustainability and innovation are inherently linked, and through this initiative, we are committed to nurturing young innovators who will help shape the future of India, where both people and the planet can thrive.”
The Social Innovator Fellowship Program embodies Schaeffler India’s commitment to integrating sustainability and innovation as a catalyst for tackling social challenges and fostering impactful community development. By supporting innovation that addresses sustainability challenges, the company is not only advancing its technological leadership but also contributing to India’s broader environmental and social goals.
The award ceremony was graced by Mr Munish Bhatia, Co-Founder, India Accelerator & CEO, Bharat Ventures, and Mr Praveen Bhadada, CXO Advisor and Mentor along with the Leadership Team of Schaeffler India.
Schaeffler India’s dedication to social innovation extends beyond this program. Through its CSR initiative, HOPE, the company consistently explores new ways to empower communities. The company is also actively involved in initiatives aligned with its sustainability goals, including promoting STEM education in underserved communities, supporting Water Conservation, Agroforestry & Climate Resilient Agriculture, and investing in projects that contribute to Community Health. These initiatives reflect Schaeffler’s broader vision of integrating motion technology with sustainable practices to drive progress and societal well-being.
