Press release

For immediate release:

Tata Group Chairman wins The Economist’s Innovation Award for Business Process Innovation

• The Economist is pleased to announce that Ratan Tata, Chairman of the Tata Group, is the winner of this year’s Business Process Innovation Award. Tata has forged a company that is shaping businesses across the globe and changing the way Indian companies conduct business. The company is also responsible for inventing the Tata Nano, the world’s lowest-cost car. Innovative methods through which the car is designed and manufactured enable Tata Motors to offer a more affordable, safe and efficient form of mobility to families in emerging markets.

• Ratan Tata along with seven additional award winners from the other categories will be recognised for turning their innovative ideas into reality at The Economist’s Eighth Annual Innovation Awards Ceremony and Summit, held in London on October 29th & 30th. October 29th sees the Innovation Awards Ceremony at the Science Museum and on October 30th the Eighth Annual Innovation Summit occurs at the Dorchester Hotel. This unique Awards Ceremony and Summit is the only event of its kind focusing on the interface between innovation and business.

• The Economist’s Eighth Annual Innovation Summit provides an opportunity for delegates to meet the greatest thinkers and doers of this world in an inspirational setting, take away content relevant to their business environment and hear from the 2009 Innovation Awards winners. The speaker line-up includes Lesa B. Roe, Director, NASA’s Langley Research Centre and Bright Simons, co-founder of mPedigree, which developed a simple system that allows people to establish whether medicines are counterfeit or not.  

• The Tata Nano Europa, the Tata Nano’s European counterpart will also be making its first ever appearance in the UK at the Summit.

• Journalists may book a place at The Economist’s Eighth Annual Innovation Summit by contacting Hayley Raffill at Waggener Edstrom on + 44 (0)207 632 3858, mobile 07813 346395 or email hraffill@waggeneredstrom.com

Judge's quote: 
Ratan Tata reshaped Tata Group through his personal drive, ambition, and innovative thinking to be one of India’s most successful companies. Aside from the business impact he has had, he has transformed the image of India in the eyes of much of the world. Recently he introduced the Nano, an automobile that sells for only 2500 USD and is thus affordable for the middle class of India and other developing countries. Analysts often cite Tata Group as a model company from a developing nation that is reshaping the globe. The Economist Innovation awards are important as they aim to highlight the work of innovative individuals in many disciplines – as such Ratan Tata is a worthy recipient of this year's Business Process Award - Marvin Caruthers, Distinguished Professor of Chemistry and Biochemistry, University of Colorado

Sponsor’s quote:
"Innovative ideas are everywhere,” said Mark Langley, executive vice president and COO of the Project Management Institute. "What we salute with the Business Process Award is rarer: the implementation, through effective projects and programs that translates ideas into lasting change. Tata Motors’ Nano challenges the way automobiles have been made and marketed for a hundred years. The application of project management is testimony to Tata Group’s record of refining its processes, from boardroom to manufacturing floor, and promises transformation of an industry facing a billion new customers over the next generation.”

Tom Standage, The Economist’s Business Editor, talks about Ratan Tata’s winning entry:
http://www.economistconferences.co.uk/innovation/businessprocessaward

###ENDS###

For press enquiries please contact:

Anna-Louise Maloney
Economist Conferences
26 Red Lion Square
London
WC1R 4HQ
United Kingdom
Tel:+ 44 (0)20 7576 8139
Email:anna-louisemaloney@economist.com

Hayley Raffill
Account Manager
Waggener Edstrom Worldwide - London
Healthcare Practice
Tel:+44 (0)20 7632 3858
Email:hraffill@waggeneredstrom.com