Established just six months ago by parent company, Innovative Infratech Solutions (P) Ltd. (IISPL), Ösel Technology (P) Ltd. has won the prestigious Startup of the Year award 2019, instituted by the Associated Chambers of Commerce and Industry of India (ASSOCHAM), an apex chamber for commerce and Industry in India. This is the 7th edition of the ceremony titled, ASSOCHAM’s MSMEs Excellence Awards & Summit, in which, Startup of the Year award is one of the 9 categories recognized for excellence.
Ösel Recognized as a Vital MSME
The award was received by Mr. Mukesh Sinha, Director, IISPL, from the Union Minister for MSME (Micro Small and Medium Enterprises), Mr. Nitin Gadkari, at a glittering function held in Hotel Le Meridian, New Delhi, on 30 January 2020. ASSOCHAM has instituted this award to recognize the vital contribution of startups in boosting economic growth in the country. It recognizes MSMEs as the second largest employment generating segment in India that require low investments, have flexibility in operations and are capable of developing appropriate indigenous technology.
Boost to Indigenous Manufacturing Capacity
Ösel is a research-driven enterprise offering end-to-end digital signage solutions leveraging its strengths in R&D, designing, software development and servicing support for its customers. IISPL established Ösel for manufacturing LED display solutions after identifying a major supply gap in this market segment in India. This is a very promising market that needs to fulfil its potential because of supply constraints and total dependence on imports. Ösel’s indigenous production capacity will promote self-reliance as required by Make in India and also boost import substitution to save precious forex.
Most Viable Alternative for Polluting PVC Flex Signage
Ösel’s endeavour to indigenize production of digital LED display solutions is the best that technology can offer to prevent the dangerous pollution from static polyvinyl chloride (PVC) flex signage which accounts for over 95% of India’s out of home (OOH) media market. PVC flex signage screens are the worst form of single use plastic (SUP) as they contain very high levels of dioxin, considered very harmful for humans and other life forms. They pose a serious health and environmental risk since India uses over 2 billion square feet of PVC flex every month and almost all of it is disposed of most unhygienically.