VASVIK is a non-profit, non-government organisation established in 1974 and run by the Patel Family of Mumbai, who are the owners of the Patel Extrusion Group, with ISO 9002 certified companies. The Group has been the winner of various awards including the Jamnalal Bajaj award, Priyadarshini award, Arch of Europe award and the Cleo award of the USA.
The Vasvik Research awards are given with the aim of promoting industrial research, Science and technology in India.
VASVIK - the multi-purpose industrial research promoting centre was founded in 1974 with the aim to help promoting research to achieve economic prosperity and sustainable development. The nine annual awards each of cash prize of Rs. 1,51,000 and a citation are given to the Indian scientists for research in various fields. With the same aim in mind a new award is instituted from the year 2014, called “Dr. Mohan I. Patel VASVIK Award for Leadership in Leveraging Scientific and Technological Research for Economical Growth”.
A memento and a citation to be given to an eminent person from industry who has made use of indigenous R & D work for industrial growth and contributed to economic prosperity of India.
Consideration will be given to efforts made for encouragement and implementation of industrial R & D work and achieving industrial and economic growth by import substitution and/or export of products/services, saving/earning foreign exchange, increased production, cost reduction etc.