Tata Innovista trophy handed over to Mr. Viresh Oberoi, CEO & MD, mjunction services limited

mjunction's Head Client Acquisition, Mr Tapas Chakraborty, today handed over the Tata Innovista regional winner trophy to the CEO & MD Mr Viresh Oberoi, in Kolkata.

mjunction, jointly with Tata Global Beverages, won the southern regional round in the "Promising Innovation" category, to move up to the finals.

Mr Chakraborty, who represented mjunction at the regional round in Bangalore, said mjunction had to contend with strong entries like TCS and Titan to win this round. In fact, mjunction is the lone winner in the "Promising Innovation" category from this region, as opposed to multiple winners in the three other categories.

At the presentation ceremony, Dr Nirmalya Kumar, member of the Group Executive Council of Tata Sons, said that one of the key enablers for innovation is a breaking down of the hierarchy barrier, so that each and every employee is empowered to go ahead with the ideas. Innovation also demands a quick prototype and a low turnaround time. When an idea is deliberated upon beyond a point, it no longer remains an innovation, he said. And that is why an innovation need not always be a successful business idea. He thus made a differentiation between an "innovative idea" and a "business idea".
mjunction's entry of Supplier Offer Site (SOS) was considered innovative as it breaks a 300-year-old tradition of forward auctions in sale of tea. The fact that reverse auctions made it a win-win situation for both buyer and supplier, made it a winning entry.