Bill Gates conferred with lifetime achievement award

Gates was conferred with the lifetime achievement award at the TiE Global Summit 2020 held virtually.

Microsoft-founder Bill Gates on Thursday said innovation is the key to solve some of the toughest challenges the world is facing.

Gates was conferred with the Lifetime Achievement Award at the TiE Global Summit 2020 held virtually.

"It is an honour to receive this prestigious award from TiE. I always believe innovation is the key to solving the world's toughest challenges whether it is stopping a pandemic, avoiding climate disaster, or just raising human productivity, he said in a recorded message.

Innovators cannot make on their own and need partners and supporters to help them make sure their best ideas make it from the lab to the marketplace, he added.

Along with the Lifetime Achievement Award, TiE has announced various awards under various categories as part of its global summit.

Earlier in March, Microsoft announced that co-founder Bill Gates has left the company's board to devote more time to philanthropy. The 64-year-old stopped being involved in day-to-day operations at the firm more than a decade ago, turning his attention to the foundation named after him and his wife Melinda.

Gates left his CEO position in 2000, handing the company reins to Steve Ballmer to devote more time to his charitable foundation. He gave up the role of Chairman at the same time Satya Nadella became Microsoft's third CEO in 2014. 

"It's been a tremendous honour and privilege to have worked with and learned from Bill over the years," said Microsoft chief executive Satya Nadella in a release.

Bill Gates, Founder of Microsoft.

"I am grateful for Bill's friendship and look forward to continuing to work alongside him," Nadella said.

In 2019, Gates added $16.6 billion to his wealth, which is now pegged at over $107 billion.

In an earlier exclusive interview to PTI, he had specifically complimented India's Aadhaar identity system and the country's performance in the financial services and pharma sectors.

(Disclaimer: Additional background information has been added to this PTI copy for context)

Edited by Megha Reddy