Tuesday, November 2, 2010

WSJ's Awards: Indian Innovations

The Jury is out on the Wall Street Journal's Asian Innovation Awards. From nearly 300 entries from the region, the Journal's independent panel of judges selected 12 finalists (see post below). Tata's Water Purifier was selected for the top prize. 

Picture Credit: Asian Wall Street Journal

Rural ATMs: A WSJ Innovation Award Finalist
Posted on June 30, 2010

For the Wall Street Journal's 2010 Asian Innovation awards there were 300 nominations from China, India, Hong Kong, Australia, Singapore and elsewhere in Asia
Three indian companies are among the 12 finalists. Vortex's ATMs, Gramateller, is one of them. As I would have expected all the three innovations from India comes from India's burgeoning private sector companies.

At the bottom of the pyramid, low-cost, low energy consumption, ruggedness and reliability are prime considerations. The reasons justifying the need for an ATM need not necessarily be the number of transcations, it could be authentication in locales where literacy is low. Fingerprint authentication capability becomes a prime consideration.

It requires innovation to build these products to meet tough and challenging requirements. This ATM uses a patent pending “Gravity Assisted Friction Feed” technique for reliable cash dispensing and a patented "Sheet Separation Apparatus" technology to dispense even soiled notes. It operates under power fluctuations, power failures and can hook up to solar power. It does not need air-conditioning and has an operating temprature range of between 0°C to 50°C.

This is Vortex India's GrammaTeller, a product of collaboration innovation between Indian technology universities, venture capatialist and entrepreneurs. Another classic example of inclusive innovation, and utility focused innovation.
If you enjoyed reading this, consider buying India's Innovation Blueprint

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