Mumbai, January 17, 2024: The second day of IEEMA's flagship event - BID 2024, witnessed 3 start-ups being awarded for their innovation at Electraverse; a part of IEEMA’s flagship event BID 2024. Electraverse featured ground-breaking ideas from 20 start-ups, three winners were announced. Trinano Technologies emerged as the Winner in the Solar materials segment, securing a prize of Rs. 10 Lakh, while Capattery (Battery Technology) and Baud (Gravity Storage) secured the Runner-Up positions, winning Rs. 5 Lakhs each. This competition is aimed at fuelling innovation and entrepreneurship in the electrical and electronics sectors. The competition witnessed over 100 entries, of which 20 were selected to participate in the event, 7 were shortlisted to showcase their innovations to an eminent jury and the top 3 were awarded. The 20 start-ups participating at BID 2024 have had a very encouraging response from the industry and received business queries from over 200 companies at BID 2024, during the very first day of Distribuelec 2024.
Mr. Rohit Pathak, Immediate Past President, of IEEMA, said, "Participating in BID 2024 is not just about showcasing technological advancements; it's a testament to our commitment to the 'Make in India' initiative. This event, organized by IEEMA, underscores our collective journey towards building an 'Atmanirbhar Bharat' in the realm of electrical manufacturing. We started Electraverse last year with an ambition to redirect young brains toward innovative solutions and provide them with a platform to solve the industry's problems. Our vision is to promote these solutions in India and give them to the world, fostering a culture of innovation and technological excellence."
Mr. Mustafa Wajid, Chairman E-Mobility and Charging Division, IEEMA, emphasized, "There are many technologies in the power sector that are yet to be discovered, and we wanted to provide a platform like Electraverse at BID 2024, where we can encourage young start-ups to create and showcase new technologies, and solutions, and potentially emerge as Unicorns in the power & allied sector. I congratulate all three winners of Electraverse and we are confident that of a much higher participation in the next edition of Electraverse"
IntELECT sessions at day 2 of BID 2024 focussed on the importance of Quality, Safety, Reliability & Innovation. This was in addition to the Reverse Buyer Seller Meet (RBSM) and Domestic Buyer Seller Meet (DBSM) which featured a diverse array of 200 international and 100 domestic buyers. This participation reflects the IEEMA’s commitment to catalysing growth in the electrical equipment manufacturing industry.
In another significant development, representatives of IEEMA and Vietnam’s HAMEE (Ho Chi Minh City Association of Mechanical and Electrical Enterprises) signed an MOU at BID 2024 to collaborate and exchange ideas for products, solutions, and demands in the power sector. This partnership between the two nations will facilitate the sharing of expertise and contribute to the global advancement of the power industry.
IEEMA remains steadfast in its commitment to driving excellence in the electrical and industrial electronics sector. BID 2024 stands as a testament to the industry's resilience and forward-looking vision.
IEEMA is the apex association of manufacturers of electrical and industrial electronics, as well as allied equipment in India. Established in 1948, IEEMA is the first ISO-certified industry association, encompassing the entire value chain in power generation, transmission, and distribution equipment, inclusive of new and renewable energy sectors.