Maxell Foundation would endeavor uncompromisingly to realize the following two objectives that would ultimately contribute towards a strong nation building, namely:
1.1 to recognize and reward entrepreneurs, business leaders and innovators from Maharashtra who have dared to dream big, explored new horizons, and through their work, have proven themselves to be the architects of change, and
1.2 to create awareness of their contributions to the growth of the state and thereby to inspire Generation Next to follow these singular examples of extraordinary entrepreneurial spirit and leadership and to transform their own potential into performance.
2.6 Excellence in Social Entrepreneurship & Special Recognition, and
2.7 Lifetime Achievement - The Award category may be increased and/or decreased depending upon the nominations/ recommendations. It is also open for the Advisory Board to create any such special or new Award Category depending upon the need.
3.1 Industriousness - Maxell will assess the extent and impact of personal effort by the individual and whether she/he surpassed normal limits in order to carve out a niche in the chosen domain.
3.2 Innovation - Creative and innovative thinking is also a factor to decide whether the contender has used it effectively to lead and distinguish his/her business from others.
3.3 Vision - Whether the enterprise is the realization of an ambitious vision that the individual cherished and worked to fructify.
3.4 Achievement - Maxell takes into consideration all the measurable and non-measurable achievements by the entrepreneur, ranging from commercial success and organizational growth to awards, citations from prominent institutions, even referrals from clients. (Includes overall success of individual and his/ her company/organization)
3.5 Overcoming challenges - This factor highlights the entrepreneur's fighting spirit. It could even be a single or the most overwhelming reason behind the success of the enterprise. Whether, the person faced cut-throat competition, production challenges or even a personal hardship, what matters is that he/she conquered such adversity with unrelenting courage and effort.
3.6 Dedication to chosen business or profession - The passion behind the pursuit is equally important. Maxell shall look for dedication and the personal or professional motivation behind the individual's work/expertise in the chosen field. The reason could even be the individual promoting his/her industry.
3.7 Corporate Social Responsibility - Every business is a part of the wider social structure that makes up the nation and the world. Hence, the individual/business leader should have contributed towards the betterment of society or improving the environment that we live in.
4.1 Prominent Members from the Business Community, Maxell Advisory Board, Maxell Advisory Council and Mentors through their network would make recommendations for the various categories of Maxell Awards. It is also open for deserving candidates to submit his/her name for nomination to the Maxell Advisory Board. These recommendations would be then considered by the Maxell Advisory Board and the final Awardees would be selected by consensus based on the aforesaid parameters and their discretion.
4.2 Conscious attempt would be made to select awardees from different regions and domain.
4.3 In case it becomes difficult to build consensus on any particular award winner, the senior-most member of the Advisory Board shall decide the Awardee (in consultation with the Managing Trustee, if required, and in line with the broader objective of Maxell Awards). His decision shall be final and binding on the Advisory Board.
In any event no Advisory Board Member would, publicly or privately, discuss his/her views about any candidates considered for the Maxell Awards.
4.4 Maxell Awards strives to equally encourage women entrepreneurs through all the aforesaid categories. Also, we will try to include entrepreneurs from remote parts of Maharashtra.
4.5 There shall be no entry fee for any nomination or recommendation.