Can Indian billionaires announce an award like Samuel Yin?

30 January, 2013

Samuel Yin, one of the richest men in Taiwan, has come up with an award that will be awarded every two years starting 2014. The awards, said to be equivalent to Nobel Prize will be awarded in four different categories - sustainable development, bio-pharmaceutical science, sinology and the rule of law - to deserving people from various parts of the world. The winners will receive USD 1.7 million in each category - much bigger than what its Swedish counterpart offers.

Such efforts will improve the standard of sustainable development, biopharmaceutical science, sinology and the rule of law throughout the world. It could also be a wise thing for Indian billionaires to come up with such awards and help in the overall development of the country.

Anant, a marketing manager in a media firm when asked if any Indian billionaire can initiate an award like Samuel Yin, said, “It has to be Ratan Tata - now that he has both time and money. The TATAs always had the intent too - for building a nation and encouraging the budding achievers.” He further adds, “An award is a recognition that works as a stimulus to the motivation level. Right awards to right people can help bring out a talent pool within India in every field. For example The TATA NEN award that focused on identifying a lot of potential new businesses. Taking the Taiwanese Nobel Prize news in perspective - it is basically localization of the recognition. This helps in nurturing and recognizing talent at a grass root level. Many of these can probably become future contenders of Global Nobel Prize.”

But, not everyone shares the same belief. One such person, Nikunj, who is Planning Director - Digital in a leading ad agency, says, “I do not know how credible such an award (by Indian businessmen) can be. If there is an award there has to be some credibility attached to it.”

He further adds, “There are a lot of awards that are bestowed on people here. We do not even keep a count. They are backed by corporate houses or media houses.”

If there are too many awards in various fields also, then deserving award recipients will not be respected. A few corporate level awards are organized by The Times of India group, Manthan Awards by Digital Empowerment Foundation where corporates take an effort to award different people.