Knowledge partner for CSR Foundation of an FMCG major to identify viable solutions to COVID

• Client Description: Client is an innovation-focused CSR Foundation of a leading FMCG company
• Opportunity: Client had launched a nationwide competition to identify and support entrepreneurs and organizations with innovative and scalable ideas in PPE and ventilators to help fight the COVID crisis. Praxis was engaged as a knowledge partner to help in the evaluation of applications, preparing a shortlist and presenting them to the jury

• Screened 1,600+ applications based on the stage of product development, the experience of the team, stage of regulatory approvals, etc. 
• Conducted commercial evaluation based on parameters such as cost competitiveness, access to raw materials, and manufacturing & distribution capabilities
• Collaborated with technical experts to further evaluate these applications on functional specifications, product viability, compliance with regulatory guidelines, etc. 
• Shortlisted 20 applicants for presentation to the jury. Compiled additional information based on detailed conversations with these applicants for presentation to the jury
• Carried out diligence to ascertain merits and accuracy of claims for applicants shortlisted by the jury and presented to the grant sub-committee

Key Insights / Outcomes

• The client took 3-4 months’ time to conduct similar ceremonies in the previous editions. Praxis team helped the client team complete the process in ~6 weeks without compromising on the robustness of the process