MIF's Cohort of Plastic Waste Innovators Deliver Climate Impact

Twelve start-ups have transformed revolutionary plastic waste administration options into new enterprise fashions, saving a whopping 124,360 tons of Carbon Dioxide emissions collectively within the final 12 months. These startups are half of the Marico Innovation Foundation (MIF)’s plastics portfolio that have been featured within the ‘Innovation in Plastics: The Potential and Possibilities’ playbook, in January 2023. MIF launched this and different information factors on the Plastics Program Roundup 2023-24, a day-long occasion, right here as we speak. This stock-taking reviewed the impression of MIF’s targeted intervention within the plastic waste administration worth chain offering alternatives to innovators to deal with the plastics downside.

Mr. Harsh Mariwala, MIF Team and MIF’s Cohort of Plastic Waste Innovators

According to the MIF’s playbook, Indias plastic consumption progress has been alarming, growing from 14 million tonnes in 2016-17 to twenty million tonnes in 2019-20. During the identical interval, the plastic waste output additionally doubled. What is extra disturbing is that regardless of producing 3.4 million tonnes of plastic waste yearly, India solely recycles 30%.

In this context, it’s notable how MIF-supported startups have made important strides in growing revolutionary options to deal with the problem of plastic waste. For occasion, Ibanss and Dharaksha have successfully managed 60 tons of agricultural waste utilizing biocraft innovation expertise and mycelium respectively. Other startups, together with Ishitva, Ibanss, Ricron, Padcare, Bintix, Dharaksha, and Angirus have collectively saved 124,360 tons of CO2 emissions, validating MIFs give attention to improvements that create social, financial, and environmental impression.

Then, there are others within the portfolio like Padcare which has recycled 37 tons of sanitary pads, preserving 74,000 km of landfill space. Ishitva Robotics AI-based sorting machine has sorted 100,000 tons of plastic waste, considerably impacting power conservation by saving 265,000 tons of oil barrels. Innovators like Ricron Panels and Angirus have recycled 1,338 tons of plastic waste by revolutionary development merchandise. Bintix, which focuses on family waste administration, has collected 360 tons of plastic waste, contributing to biodiversity conservation and waste discount whereas preserving 8,300 timber.

Harsh Mariwala, Founder, Marico Innovation Foundation, mentioned, “MIF is on the forefront of the innovation journey in plastic waste administration. Our dedication to innovation is what drives us to establish and deal with challenges for the brief, mid, and long run. This initiative generally is a game-changer for India as we transfer forward in addressing the plastics downside. In reality, I consider that by offering a nurturing surroundings that goes past capital, we will construct a prototype for plastic waste administration for the remaining of the world to deploy.“

Amit Chandra, Honorary Chairperson of the Governing Council of Marico Innovation Foundation, added, “Our Plastics Program has supported revolutionary options poised to revolutionize the waste administration sector. As consumerism continues to surge, there may be immense scope for improvements to deal with challenges throughout the worth chain.” He added, “MIF is proud to help the journey of disruptive innovators and contribute to ecosystem constructing for sustainable improvements.”

Suranjana Ghosh, Head of Marico Innovation Foundation, highlighted MIFs instrumental position in nurturing innovators within the plastic waste administration sector. “Since the launch of the playbook, MIF has taken the lead in following its suggestions, prioritizing the help, and nurturing of startups. This dedication has led to important strides, with our interventions leading to multi-crore deal orders alongside different value-driven initiatives for entrepreneurs. These endeavors underscore our dedication to driving tangible outcomes and fostering a thriving ecosystem for sustainable innovation,” she remarked.

About Marico Innovation Foundation

Marico Innovation Foundation is a philanthropic establishment dedicated to fostering and catalyzing India’s innovation panorama, and groundbreaking applied sciences which may create large-scale impression for hundreds of thousands of folks.

MIF’s mission is to establish disruptive improvements with the potential to create long-lasting socio-economic and environmental impression in India and supply them with complete help to extend their visibility, alternatives and likelihood of success.

Note: The impression numbers shared have been offered by the startups and are chargeable for their accuracy.

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