Ministry of Shipping today announced Mumbai based start up Sagar Defence Engineering as the winner of the maiden ‘MIS 2016 – DP World Prize’ contest. The winner will be awarded a prize money of Rs. 15 Lakh at the Maritime India Summit 2016 to support its project.
‘MIS 2016 – DP World Prize’ which was organized as part of Maritime India Summit, received an overwhelming response from participants across the country of which final five entries from Mumbai, Chennai, Hyderabad, Bangalore and Bhubaneswar were shortlisted. These five shortlisted start-ups made a presentation before an eminent jury chaired by Mr. Deepak Parekh, Chairman, HDFC.
Sagar Defence Engineering, founded by Capt. Nikunj Parashar and his team in May 2015 has developed the first unmanned marine surface vehicle, which has been inducted in the Indian navy. This system caters to broad range of applications in unmanned Marine, Submarine and Airborne Industries relating to various commercial sectors like oil, Gas, Inland waterways, Oceanography, Disaster management and scientific research.
The winner Capt. Nikunj Parashar said that, “in time to come unmanned marine vehicle will not only save time, money and increase productivity, but also save human lives out at sea and on battlefronts! We will be utilizing this prize money to build our first Unmanned Surface Vehicle for Oil & Gas sector which is scheduled to be launched in October.”
Speaking on the occasion Mr. Deepak Parekh, Chairman, HDFC said, “the ‘MIS 2016 – DP World Prize’ contest is an aggregator platform to motivate young entrepreneurial talent present in our country. All the five shortlisted participants showcased excellent entrepreneurial skills through the fresh innovative concepts and ideas submitted by them.