Overview
Marico Innovation Foundation (MIF) is a philanthropic institution founded in 2003 by Indian business leader Harsh Mariwala as the not-for-profit arm of Marico Limited. The organisation aims to foster India’s innovation ecosystem by identifying and supporting disruptive ideas with the potential to create large-scale social, economic and environmental impact. Its vision is to promote innovation that improves lives and enables scalable solutions to real-world challenges.
Mission and focus areas
Marico Innovation Foundation focuses on discovering and scaling high-impact innovations, particularly those addressing pressing development and sustainability challenges. Key thematic areas include climate adaptation, plastic waste management, clean technology and agriculture technology. By supporting entrepreneurial solutions in these sectors, the foundation contributes to sustainability-driven value creation and the development of technologies that address environmental and socio-economic issues.
The organisation works primarily with startups and innovators whose products or services can achieve large-scale impact. Its activities emphasise strengthening the broader innovation ecosystem through collaboration with industry partners, investors and mentors, thereby enabling scalable, sustainable business models and technological innovation.
Structure and governance
Marico Innovation Foundation operates as a philanthropic initiative linked to Marico Limited, with oversight from its founder and leadership team. The organisation collaborates with industry experts, entrepreneurs and mentors who contribute guidance and strategic support to emerging ventures. Its programmes involve partnerships with corporate organisations, investors and ecosystem stakeholders to help innovators develop and scale solutions.
The foundation also engages a network of mentors and advisors from industry and academia who provide operational and strategic expertise to supported startups. This collaborative model allows the organisation to combine philanthropic support with practical industry knowledge and networks.
Programs and offerings
Marico Innovation Foundation runs several flagship programmes designed to identify, recognise and accelerate impactful innovation. The Scale-Up programme is a no-equity accelerator that provides tailored mentorship and long-term support to startups generating between INR 1 and 100 crore in annual revenue. The programme focuses on sectors such as plastic waste management, clean technology and agriculture technology, helping ventures scale sustainably.
Another major initiative is Indian Innovation Icons, a biennial awards platform that recognises breakthrough innovations and provides winners with visibility, mentorship and industry connections. In addition, the foundation publishes insights, case studies and research through its knowledge resources, contributing to discussions on innovation, entrepreneurship and sustainability in India.
Mission
To identify disruptive impact innovations in India, and increase their chances of success and scale.
