Tata Steel announces the winners of the third edition of its competition ‘TomorrowLAB’

Mumbai, March 12, 2024

~ Team ‘Invictus’ from IIT Kharagpur declared winner of the student track ~

~ Team ‘Juley Cabins’ from Tata Steel Nest-In declared winner of the employee track ~

~ The competition is designed to proliferate entrepreneurial DNA among Tata Steel employees and the student community ~

Tata Steel announces the winners of the third edition of TomorrowLAB, a unique business competition designed to proliferate entrepreneurial DNA amongst employees of Tata Steel and the student community for the future of India. The three-month-long competition, which included two separate tracks for business & technology school students and Tata Steel employees, concluded with a thrilling grand finale held virtually on March 8, 2024.

The winners were declared by the 4-member jury that included Ashish Anupam, Vice President, Long Products; Dr Debashish Bhattacharjee, Vice President, Technology and R&D; Chanakya Chaudhary, Vice President, Corporate Services and Peeyush Gupta, Vice President, TQM, Group Strategic Procurement & Supply Chain.

Team ‘Invictus’ from IIT Kharagpur emerged as the winner of the student track while Team ‘Juley Cabins’ from Nest-In bagged the top slot in the employee track.

The winning team from the student track were presented with a cash prize of Rs 1 lakh and the winning team from the employee track were presented with a cash prize of Rs 60,000. Mementoes and Certificates of Achievement were also presented to the national finalists.

Ashish Anupam, Vice President, Long Products, Tata Steel, said: “The third edition of TomorrowLAB saw a record number of enthusiastic participants with several compelling entries from students and Tata Steel employees. We congratulate all the winners and the participants for their spirited performance and making this edition a grand success. TomorrowLAB represents the true spirit of Tata Steel and our constant pursuit of innovation to strengthen the future of India. We look forward to the future editions of TomorrowLAB that will bring out the best ideas and business plans students and our employees can offer.”

The third edition of TomorrowLAB saw a total of ~25,000 participants including 155 employees from Tata Steel. The winners were selected from the three finalist teams from each of the two tracks - The Student track and the Employee track. The participants from both tracks had submitted their business plans around the three themes – Innovation for ‘infrastructure & building’, ‘energy & environment’, and ‘rural India’.

The competition was held in three rounds, from which 25 teams were shortlisted for the pre-finale. They were mentored by Tata Steel Innovent team members after which the ideas were presented to jury. Six ideas (3 from the employee track and 3 from the student track) out of 25 were selected for the National Grand Finale.

The competition was designed to generate breakthrough and innovative ideas that re-emphasise Tata Steel’s thrust on innovation, build the entrepreneurial DNA to meet future Indian market demands, strengthen Tata Steel’s overall positioning and idea pipeline, and open up new avenues for innovations.

Disclaimer

Statements in this press release describing the Company’s performance may be “forward-looking statements” within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company’s operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors.

For queries and information

Sarvesh Kumar,
Chief Corporate Communications, Tata Steel,
E-mail : sarvesh.kumar@tatasteel.com

About Tata Steel

Tata Steel group is among the top global steel companies with an annual crude steel capacity of 35 million tonnes per annum.
It is one of the world's most geographically diversified steel producers, with operations and commercial presence across the world.
The group recorded a consolidated turnover of ~US$30.3 billion in the financial year ending March 31, 2023.
A Great Place to Work-Certified^TMorganisation, Tata Steel Limited, together with its subsidiaries, associates, and joint ventures, is spread across five continents with an employee base of over 77,000.
Tata Steel has announced its major sustainability objectives including Net Zero Carbon by 2045.
The Company has been on a multi-year digital-enabled business transformation journey intending to be the leader in ‘Digital Steel making by 2025’. The Company has received the World Economic Forum’s Global Lighthouse recognition for its Jamshedpur, Kalinganagar and IJmuiden Plants.
Tata Steel aspires to have 25% diverse workforce by 2025. The Company has been recognised with the World Economic Forum’s Global Diversity Equity & Inclusion Lighthouse 2023.
The Company has been a part of the DJSI Emerging Markets Index since 2012 and has been consistently ranked amongst top 10 steel companies in the DJSI Corporate Sustainability Assessment since 2016.
Tata Steel’s Jamshedpur Plant is India’s first site to receive ResponsibleSteel^TM Subsequently, its Kalinganagar and Meramandali plants have also received the certification. In India, Tata Steel now has more than 90% of its steel production from ResponsibleSteel^TM certified sites.
Received Prime Minister’s Trophy for the best performing integrated steel plant for 2016-17, 2023 Steel Sustainability Champion recognition from worldsteel for six years in a row, 2022 ‘Supplier Engagement Leader’ recognition by CDP, Top performer in Iron and Steel sector in Dun & Bradstreet's India's top 500 companies 2022, Ranked as the 2023 most valuable Mining and Metals brand in India by Brand Finance, ‘Most Ethical Company’ award 2021 from Ethisphere Institute, and ‘Best Corporate for Promotion of Sports’ recognition at the Sportstar Aces Awards 2024.
Received 2023 ERM (Enterprise Risk Management) Award of Distinction at the RIMS ERM Conference 2023, ‘Masters of Risk’ - Metals & Mining Sector recognition at The India Risk Management Awards for the seventh consecutive year, and Award for Excellence in Financial Reporting FY20 from ICAI, among several others.