Despite the sombre industry environment, the mood– at the meeting that had members logging in from across India, Singapore, Silicon Valley, Seattle — was ebullient as they focused on empirical metrics and deliverables such as profitability, exits and effectiveness of innovation to arrive at the final roster of awardees who best represent the current dynamics in the sector.
The ultimate goal was to pick winners displaying “innovation, grit, differentiation, integrity, and ambition,” according to Infosys chief executive and managing director Salil Parekh who led the ten-member jury.
The high-powered panel including startup entrepreneurs who have taken their companies public recently, had logged in well versed with a 103-page dossier comprising confidential data from the shortlisted companies drawn up by the ET editorial team. This helped set the stage for intense discussions in each of the nine categories with spirited comments and counter-comments flowing freely through the meeting that lasted for over two and half hours.
In several categories, like Bootstrap Champ, Midas Touch and Startup of the Year, the jury was split on their selections but the detailed debates ultimately yielded this year’s nine winners from among the 45 nominees.
The shortlist of five candidates in each category was trimmed to two or three companies after initial voting, following which the jurors debated the merits of each to arrive at a final consensus, by way of a secret ballot. The core strategy deployed by the jury this year was to look at real numbers and the impact being created by the companies more so in categories like Social Enterprise and Top Innovator.
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Parekh said, the jury discussions were of the “highest calibre, extremely inclusive, with different perspectives and points of views, coming from differing backgrounds and experiences, and then converging on the companies and individuals that stood out in each category.”
Noting that the jury which consisted of accomplished founders and operators had a good understanding of the nominees, Shailendra Singh, MD, Sequoia India and Southeast Asia, said,” it was truly diverse and nicely balanced. But the best part was that even in disagreements, the discussion was constructive and everyone was appreciative of each other’s views, and people were asking insightful questions to get to the best possible winners.”
In categories like Midas Touch for the Best Investor, the emphasis remained on actual deliverables such as the value of exits. Incisive back and forth between members marked the discussions in categories like Comeback Kid and Best on Campus with several participants making strong yet succinct arguments for their respective choices.
Keeping to the time-honoured tradition at ET Awards jury deliberations, direct contenders recused themselves while their candidatures were being discussed. While many other jurors with direct and indirect interest in the shortlisted companies, participated in the debates but refrained from casting a vote.
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