Tata Sons and the New York Academy of Sciences today announced the Tata Transformation Prize to recognize and support promising scientists in India who are developing innovative technological solutions to critical societal challenges.The new prize will be awarded each year to three scientists for innovations in each of three areas: food security, sustainability, and healthcare. Each winner will each receive Rs 2 crores and will be honoured at a ceremony in India in December."This prize will accelerate breakthrough innovations by the Indian scientific community," said Natarajan Chandrasekaran, Chairman of the Board of Tata Sons. "We hope this prize will help bring the transformational work of Indian scientists to light, reward them appropriately, and encourage them in taking solutions to market. The Tata Transformation Prize is one small way in which we will promote science and scientists to solve India's national problems."Applicants for the prize must be active researchers with a doctoral degree, or equivalent, and be employed by an eligible university, institute, or other research organization in India. Applicants must propose technologies addressing food security, sustainability, or healthcare challenges with a focus on digital and technological transformation. Prize winners will be scientists whose proposed innovations re-imagine traditional practices and business models, transform technological paradigms, improve public trust, and promote an open and connected world."Pathbreaking research takes place in India, resulting in important advances in science around the world," said Professor Nicholas Dirks , President and CEO of the New York Academy of Sciences. "This prize is focused not only on science, but on innovative discoveries that put science to work for the betterment of society, to solving major global challenges in three core areas. We are so pleased to be working with Tata, and Chairman N. Chandrasekaran, to support scientific and technical innovation in India. It will also raise national and international awareness of India's strengths in scientific research and development."The Tata Transformation Prize is the latest in a series of prominent awards and scholarship programs the Academy and its partners present each year to accomplished early-career and established scientists around the world. These initiatives, along with education and professional development programs for students and young scientists, reflect the Academy's broader commitment to strengthening and diversifying the pipeline for skilled and talented scientists globally.Click here for more information about the Tata Transformation Prize.Founded by Jamsetji Tata in 1868, the Tata Group is a global enterprise, headquartered in India, comprising 30 companies across ten verticals. The group operates in more than 100 countries across six continents, with a mission 'To improve the quality of life of the communities we serve globally, through long-term stakeholder value creation based on Leadership with Trust'.Tata Sons is the principal investment holding company and promoter of Tata companies. Sixty-six per cent of the equity share capital of Tata Sons is held by philanthropic trusts, which support education, health, livelihood generation and art and culture.In 2021-22, the revenue of Tata companies, taken together, was USD 128 billion (Rs 9.6 trillion). These companies collectively employ over 935,000 people.Each Tata company or enterprise operates independently under the guidance and supervision of its own board of directors. There are 29 publicly-listed Tata enterprises with a combined market capitalisation of USD 311 billion (Rs 23.6 trillion) as on March 31, 2022. Tata Group Companies include Tata Consultancy Services, Tata Motors, Tata Steel, Tata Chemicals, Tata Consumer Products, Titan, Tata Capital, Tata Power, Indian Hotels, Tata Communications, Tata Electronics, Air India and Tata Digital.The New York of Academy of Sciences is an independent, not-for-profit organization that since 1817 has been committed to advancing science for the benefit of society. With more than 20,000 Members in 100 countries, the Academy advances scientific and technical knowledge, addresses global challenges with science-based solutions, and sponsors a wide variety of educational initiatives at all levels for STEM and STEM-related fields. The Academy hosts programs and publishes content in the life and physical sciences, the social sciences, nutrition, artificial intelligence, computer science, and sustainability. The Academy also provides professional and educational resources for researchers across all phases of their careers. Please visit us online at www.nyas.org.NOTE TO NEWS EDITORS:To access to video content of Tata Chairman, N. Chandrasekaran and New York Academy of Sciences President, Nicholas Dirks, please download video soundbites & b-roll footage direct from this link https://vimeo.com/785591166/e87c114a47.Media Contacts:New York Academy of SciencesKamala Murthy Kmurthy@nyas.orgTata SonsHarsha Ramachandra harsha.r@tata.comVideo - https://www.youtube.com/watch?v=5XI75JXXOrwThis story is provided by PRNewswire.will not be responsible in any way for the content of this article. (ANI/PRNewswire)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor